Declared Dividend • May 18
Dividend of CN¥0.05 announced Dividend of CN¥0.05 is the same as last year. Ex-date: 20th May 2026 Payment date: 20th May 2026 Dividend yield will be 0.8%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 9.8% to bring the payout ratio under control. However, EPS has declined by 42% over the last 5 years so the company would need to reverse this trend. Board Change • May 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. 9 experienced directors. 3 highly experienced directors. VP & Non-Independent Director Pengliang Han was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.07 (vs CN¥0.08 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.07 (down from CN¥0.08 in 1Q 2025). Revenue: CN¥363.1m (up 14% from 1Q 2025). Net income: CN¥44.6m (down 8.5% from 1Q 2025). Profit margin: 12% (down from 15% in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Mar 31
Huabao Flavours & Fragrances Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Huabao Flavours & Fragrances Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 74% 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 Earnings have declined by 52% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (93% payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 21
Full year 2025 earnings released: EPS: CN¥0.14 (vs CN¥0.48 loss in FY 2024) Full year 2025 results: EPS: CN¥0.14 (up from CN¥0.48 loss in FY 2024). Revenue: CN¥1.34b (down 1.4% from FY 2024). Net income: CN¥83.8m (up CN¥380.1m from FY 2024). Profit margin: 6.3% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Mar 20
Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 10, 2026 Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 10, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Announcement • Dec 31
Huabao Flavours & Fragrances Co., Ltd. to Report Fiscal Year 2025 Results on Mar 21, 2026 Huabao Flavours & Fragrances Co., Ltd. announced that they will report fiscal year 2025 results on Mar 21, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.15 (vs CN¥0.11 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.15. Revenue: CN¥389.8m (down 5.3% from 3Q 2024). Net income: CN¥63.6m (down 6.1% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Announcement • Sep 30
Huabao Flavours & Fragrances Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Huabao Flavours & Fragrances Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 21
Second quarter 2025 earnings released: CN¥0.048 loss per share (vs CN¥0.058 profit in 2Q 2024) Second quarter 2025 results: CN¥0.048 loss per share (down from CN¥0.058 profit in 2Q 2024). Revenue: CN¥286.5m (down 13% from 2Q 2024). Net loss: CN¥35.4m (down 202% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Jul 02
Huabao Flavours & Fragrances Co., Ltd. to Report First Half, 2025 Results on Aug 19, 2025 Huabao Flavours & Fragrances Co., Ltd. announced that they will report first half, 2025 results on Aug 19, 2025 New Risk • Jun 07
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 Earnings have declined by 38% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Mar 31
Huabao Flavours & Fragrances Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Huabao Flavours & Fragrances Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Mar 30
Full year 2024 earnings released: CN¥0.48 loss per share (vs CN¥0.62 profit in FY 2023) Full year 2024 results: CN¥0.48 loss per share (down from CN¥0.62 profit in FY 2023). Revenue: CN¥1.36b (down 8.6% from FY 2023). Net loss: CN¥296.3m (down 178% from profit in FY 2023). 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 15% per year, which means it has not declined as severely as earnings. Announcement • Mar 29
Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 18, 2025 Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 18, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Announcement • Dec 31
Huabao Flavours & Fragrances Co., Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Huabao Flavours & Fragrances Co., Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.11 (vs CN¥0.18 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.11 (down from CN¥0.18 in 3Q 2023). Revenue: CN¥411.6m (up 7.1% from 3Q 2023). Net income: CN¥67.8m (down 38% from 3Q 2023). Profit margin: 17% (down from 28% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 25% 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 18% After last week's 18% share price decline to CN¥16.75, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 31x in the Chemicals industry in China. Total loss to shareholders of 55% over the past three years. Announcement • Sep 30
Huabao Flavours & Fragrances Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Huabao Flavours & Fragrances Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥16.65, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 29x in the Chemicals industry in China. Total loss to shareholders of 56% over the past three years. Announcement • Sep 25
Huabao Flavours & Fragrances Co., Ltd. Approves Interim Dividend for the Year 2024 Huabao Flavours & Fragrances Co., Ltd. approved at its EGM held on 23 September 2024 the interim cash dividend/10 shares (tax included) of CNY 1.20000000 for the year 2024. Announcement • Aug 30
Huabao Flavours & Fragrances Co., Ltd. Proposes Profit Distribution for the First Half of 2024 Huabao Flavours & Fragrances Co., Ltd. announced on 29 August 2024 the profit distribution proposal for the first half of 2024 as follows: Cash dividend per 10 shares (tax included): CNY 1.20000000. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.058 (vs CN¥0.17 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.058 (down from CN¥0.17 in 2Q 2023). Revenue: CN¥329.3m (down 6.2% from 2Q 2023). Net income: CN¥34.6m (down 68% from 2Q 2023). Profit margin: 11% (down from 31% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Announcement • Jun 29
Huabao Flavours & Fragrances Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Huabao Flavours & Fragrances Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Board Change • May 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Pengliang Han was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.17 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.12 (down from CN¥0.17 in 1Q 2023). Revenue: CN¥332.4m (down 2.8% from 1Q 2023). Net income: CN¥76.8m (down 25% from 1Q 2023). Profit margin: 23% (down from 30% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Huabao Flavours & Fragrances Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Huabao Flavours & Fragrances Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 New Risk • Mar 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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 Earnings have declined by 17% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (97% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (26% net profit margin). Announcement • Mar 27
Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 16, 2024 Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 16, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: CN¥0.62 (vs CN¥1.18 in FY 2022) Full year 2023 results: EPS: CN¥0.62 (down from CN¥1.18 in FY 2022). Revenue: CN¥1.48b (down 22% from FY 2022). Net income: CN¥379.0m (down 48% from FY 2022). Profit margin: 26% (down from 38% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥16.11, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 59% over the past three years. Announcement • Feb 01
Huabao Flavours & Fragrances Co., Ltd. Provides Earnings Guidance for the Year Ended December 31, 2023 Huabao Flavours & Fragrances Co., Ltd. provided earnings guidance for the year ended December 31, 2023. For the period, the company expects net profit attributable to company's shareholders of RMB 300,000,000 to RMB 440,000,000, decrease of the current year compared to the previous year: 39.30% to 58.62%. Announcement • Dec 29
Huabao Flavours & Fragrances Co., Ltd. to Report Fiscal Year 2023 Results on Mar 28, 2024 Huabao Flavours & Fragrances Co., Ltd. announced that they will report fiscal year 2023 results on Mar 28, 2024 Announcement • Nov 08
Huabao Flavours & Fragrances Co., Ltd. Announces Interim Dividend on A Shares for the Year 2023, Payable on 13 November 2023 Huabao Flavours & Fragrances Co., Ltd. announced interim cash dividend/10 shares (tax included) of CNY 2.00000000 on A shares for the year 2023. Record date is 10 November 2023. Ex-date is 13 November 2023. Payment date is 13 November 2023. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.22 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.18 (down from CN¥0.22 in 3Q 2022). Revenue: CN¥384.5m (down 17% from 3Q 2022). Net income: CN¥109.3m (down 19% from 3Q 2022). Profit margin: 28% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 25% per year. Announcement • Oct 28
Huabao Flavours & Fragrances Co., Ltd. Approves 2023 Interim Profit Distribution Huabao Flavours & Fragrances Co., Ltd. at its 1st Extraordinary General Meeting of 2023 on 26 October 2023, during which the following proposal was/were approved: Cash dividend/10 shares (tax included): CNY 2.00000000. Announcement • Sep 30
Huabao Flavours & Fragrances Co., Ltd. to Report Q3, 2023 Results on Oct 30, 2023 Huabao Flavours & Fragrances Co., Ltd. announced that they will report Q3, 2023 results on Oct 30, 2023 Announcement • Sep 02
Huabao Flavours & Fragrances Co., Ltd. Proposes Profit Distribution for the First Half of 2023 Huabao Flavours & Fragrances Co., Ltd. announced on 31 August 2023 the profit distribution proposal for the first half of 2023 as Cash dividend/10 shares (tax included): CNY 2.00000000. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.30 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.17 (down from CN¥0.30 in 2Q 2022). Revenue: CN¥351.2m (down 28% from 2Q 2022). Net income: CN¥109.5m (down 40% from 2Q 2022). Profit margin: 31% (down from 38% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 26% per year. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.35 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.17 (down from CN¥0.35 in 1Q 2022). Revenue: CN¥341.8m (down 18% from 1Q 2022). Net income: CN¥102.9m (down 52% from 1Q 2022). Profit margin: 30% (down from 52% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% 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. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.50, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 1.7% 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. 5 non-independent directors. Independent Director Ze Quan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.22 (vs CN¥0.36 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.22 (down from CN¥0.36 in 3Q 2021). Revenue: CN¥464.2m (up 3.9% from 3Q 2021). Net income: CN¥135.5m (down 40% from 3Q 2021). Profit margin: 29% (down from 50% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.30 (vs CN¥0.42 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.30 (down from CN¥0.42 in 2Q 2021). Revenue: CN¥485.9m (up 8.1% from 2Q 2021). Net income: CN¥182.9m (down 28% from 2Q 2021). Profit margin: 38% (down from 57% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Buying Opportunity • Aug 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.4%. The fair value is estimated to be CN¥29.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years. Earnings per share has declined by 6.2%. Buying Opportunity • Aug 03
Now 20% undervalued Over the last 90 days, the stock is up 3.9%. The fair value is estimated to be CN¥29.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years. Earnings per share has declined by 6.2%. Board Change • Jul 31
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. 5 non-independent directors. Independent Director Ze Quan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥24.56, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 7.3% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥26.31, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Chemicals industry in China. Negligible returns to shareholders over past three years. Buying Opportunity • Apr 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be CN¥28.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years. Earnings per share has declined by 6.2%. Revenue is forecast to grow by 28% in a year. Earnings is forecast to grow by 42% in the next year. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.35 (down from CN¥0.44 in 1Q 2021). Revenue: CN¥416.4m (down 11% from 1Q 2021). Net income: CN¥216.2m (down 21% from 1Q 2021). Profit margin: 52% (down from 59% in 1Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 28%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year. Announcement • Apr 26
Huabao Flavours & Fragrances Co., Ltd. Announces (A Shares) Dividend for 2021, Payable on April 29, 2022 Huabao Flavours & Fragrances Co., Ltd. announced 2021 final profit distribution plan to be implemented (A shares). For the period the Company announced Cash dividend/10 shares (tax included): CNY 13.20000000. Record date: 28 April 2022. Ex-date: 29 April 2022. Payment date: 29 April 2022. Announcement • Apr 20
Huabao Flavours & Fragrances Co., Ltd. Approves 2021 Profit Distribution Plan Huabao Flavours & Fragrances Co., Ltd. approved 2021 profit distribution plan. The detailed profit distribution plan are as follows: Cash dividend/10 shares (tax included): CNY 13.20000000. Announcement • Mar 31
Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 15, 2022 Huabao Flavours & Fragrances Co., Ltd., Annual General Meeting, Apr 15, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 annual report and its summary; to consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider Reappointment of audit firm; to consider Cash management with some idle raised funds; to consider Purchase of wealth management products with some idle proprietary funds; and to consider other matters. Announcement • Mar 29
Huabao Flavours & Fragrances Co., Ltd. Proposes Final Cash Dividend for the Year 2021 Huabao Flavours & Fragrances Co., Ltd. proposed final cash dividend/10 shares (tax included): CNY 13.20000000 for the year 2021. Reported Earnings • Mar 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.63 (down from CN¥1.92 in FY 2020). Revenue: CN¥1.94b (down 7.3% from FY 2020). Net income: CN¥1.00b (down 15% from FY 2020). Profit margin: 52% (down from 56% in FY 2020). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 23%, compared to a 47% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Announcement • Mar 10
Huabao Flavours & Fragrances Co., Ltd. (SZSE:300741) agreed to acquire ShangHai YiFang Rural Technology Holdings Co.,Ltd from Hangzhou Keli Enterprise Management Partnership Enterprise (Limited Partnership) for RMB 121.5 million. Huabao Flavours & Fragrances Co., Ltd. (SZSE:300741) agreed to acquire ShangHai YiFang Rural Technology Holdings Co.,Ltd from Hangzhou Keli Enterprise Management Partnership Enterprise (Limited Partnership) for RMB 121.5 million on March 8, 2022. Announcement • Jan 28
Huabao Flavours & Fragrances Co., Ltd. Announces Investigation Against A Director and Co-Chairman Huabao International Holdings Limited has further been informed by Huabao Flavours & Fragrances Co., Ltd, a non-wholly owned subsidiary of the Company with its shares listed on the ChiNext Market of the Shenzhen Stock Exchange that a case filing notice of Hengyang County Supervisory Committee was received by Huabao Flavours on 27 January 2022 and that Mr. LAM Ka Yu ("Mr. Lam"), a director of Huabao Flavours, is currently under investigation for suspected disciplinary violations. Mr. Lam is also the son of Ms. Chu Lam Yiu ("Ms. Chu") (the chairlady, chief executive officer, executive director and controlling shareholder (approximately 71% interest in the Company's shares as at the date of this announcement) of the Company), the Co-chairman and executive director of the Company. In addition, Huabao Flavours had learned from his family that Mr. Lam is currently placed under residential surveillance at a designated by Changsha County Police Bureau. The board of the Company (the "Board") is now assessing the current situations and will consider making necessary arrangements regarding the executive duties currently undertaken by Ms. Chu and Mr. Lam. Once the decision is made, the Company will publish further announcement(s) to keep the shareholders of the Company and the public informed of the development in this matter. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 24% share price decline to CN¥35.12, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥56.01, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 116% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 32% share price gain to CN¥55.34, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 109% over the past three years. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.36 (vs CN¥0.44 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥447.0m (down 12% from 3Q 2020). Net income: CN¥223.8m (down 18% from 3Q 2020). Profit margin: 50% (down from 54% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.42 (vs CN¥0.45 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥449.6m (down 8.3% from 2Q 2020). Net income: CN¥255.9m (down 7.6% from 2Q 2020). Profit margin: 57% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥43.02, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 24% share price gain to CN¥49.49, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 29% over the past three years. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.44 (vs CN¥0.44 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥467.1m (up 4.9% from 1Q 2020). Net income: CN¥273.8m (up 1.8% from 1Q 2020). Profit margin: 59% (down from 60% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS CN¥1.92 (vs CN¥2.01 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¥2.09b (down 4.2% from FY 2019). Net income: CN¥1.18b (down 4.5% from FY 2019). Profit margin: 56% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year. Is New 90 Day High Low • Mar 08
New 90-day low: CN¥45.01 The company is down 28% from its price of CN¥62.66 on 08 December 2020. The Chinese market is up 1.0% 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. Announcement • Feb 20
Huabao Flavours & Fragrances Co., Ltd. to Report Fiscal Year 2020 Results on Mar 20, 2021 Huabao Flavours & Fragrances Co., Ltd. announced that they will report fiscal year 2020 results on Mar 20, 2021 Is New 90 Day High Low • Jan 29
New 90-day low: CN¥47.80 The company is down 8.0% from its price of CN¥52.00 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 22% over the same period. Is New 90 Day High Low • Jan 14
New 90-day low: CN¥48.41 The company is down 5.0% from its price of CN¥51.13 on 16 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: CN¥61.56 The company is up 19% from its price of CN¥51.52 on 04 September 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: CN¥58.48 The company is up 11% from its price of CN¥52.80 on 20 August 2020. The Chinese market is down 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. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.22b, largely unchanged from the prior year. Total revenue was CN¥2.13b over the last 12 months, down 3.1% from the prior year. Announcement • Aug 01
Huabao Flavours & Fragrances Co., Ltd. to Report First Half, 2020 Results on Aug 22, 2020 Huabao Flavours & Fragrances Co., Ltd. announced that they will report first half, 2020 results on Aug 22, 2020 
