Announcement • Jun 30
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report First Half, 2026 Results on Aug 26, 2026 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report first half, 2026 results on Aug 26, 2026 New Risk • Jun 25
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 9.0% 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 Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Earnings have declined by 70% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Heping Cao was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 31
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Fiscal Year 2025 Results on Mar 31, 2026 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Sep 30
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Announcement • Jul 02
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report First Half, 2025 Results on Aug 29, 2025 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Apr 25
Jiangxi Black Cat Carbon Black Inc.,Ltd, Annual General Meeting, May 19, 2025 Jiangxi Black Cat Carbon Black Inc.,Ltd, Annual General Meeting, May 19, 2025, at 14:00 China Standard Time. Location: No. 9, Zijing Road, Changnan Avenue, Jingdezhen, Jiangxi China Announcement • Mar 31
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Q1, 2025 Results on Apr 25, 2025 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 31
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Fiscal Year 2024 Results on Apr 25, 2025 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: CN¥0.001 loss per share (vs CN¥0.037 loss in 3Q 2023) Third quarter 2024 results: CN¥0.001 loss per share (improved from CN¥0.037 loss in 3Q 2023). Revenue: CN¥2.39b (flat on 3Q 2023). Net loss: CN¥516.4k (loss narrowed 98% from 3Q 2023). Profit margin: 0% (up from net loss in 3Q 2023). Revenue is forecast to grow 13% 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, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 29
Second quarter 2024 earnings released: CN¥0.079 loss per share (vs CN¥0.18 loss in 2Q 2023) Second quarter 2024 results: CN¥0.079 loss per share (improved from CN¥0.18 loss in 2Q 2023). Revenue: CN¥2.53b (up 14% from 2Q 2023). Net loss: CN¥58.2m (loss narrowed 56% from 2Q 2023). Revenue is forecast to grow 12% 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, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Announcement • Jun 29
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report First Half, 2024 Results on Aug 29, 2024 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report first half, 2024 results on Aug 29, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.005 (vs CN¥0.14 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.005 (up from CN¥0.14 loss in 1Q 2023). Revenue: CN¥2.38b (up 8.1% from 1Q 2023). Net income: CN¥3.75m (up CN¥107.7m from 1Q 2023). Profit margin: 0.2% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% 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, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Announcement • Mar 30
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Q1, 2024 Results on Apr 30, 2024 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Mar 29
Jiangxi Black Cat Carbon Black Inc.,Ltd, Annual General Meeting, Apr 29, 2024 Jiangxi Black Cat Carbon Black Inc.,Ltd, Annual General Meeting, Apr 29, 2024, at 14:00 China Standard Time. Location: No. 9, Zijing Road, Changnan Avenue, Jingdezhen, Jiangxi China Reported Earnings • Mar 29
Full year 2023 earnings released: CN¥0.33 loss per share (vs CN¥0.012 profit in FY 2022) Full year 2023 results: CN¥0.33 loss per share (down from CN¥0.012 profit in FY 2022). Revenue: CN¥9.45b (down 4.5% from FY 2022). Net loss: CN¥242.9m (down CN¥251.8m from profit in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Announcement • Dec 30
Jiangxi Black Cat Carbon Black Inc.,Ltd to Report Fiscal Year 2023 Results on Mar 29, 2024 Jiangxi Black Cat Carbon Black Inc.,Ltd announced that they will report fiscal year 2023 results on Mar 29, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: CN¥0.037 loss per share (vs CN¥0.043 loss in 3Q 2022) Third quarter 2023 results: CN¥0.037 loss per share (improved from CN¥0.043 loss in 3Q 2022). Revenue: CN¥2.37b (down 11% from 3Q 2022). Net loss: CN¥27.4m (loss narrowed 12% from 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Chemicals industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 25
Second quarter 2023 earnings released: CN¥0.18 loss per share (vs CN¥0.11 profit in 2Q 2022) Second quarter 2023 results: CN¥0.18 loss per share (down from CN¥0.11 profit in 2Q 2022). Revenue: CN¥2.22b (down 21% from 2Q 2022). Net loss: CN¥131.9m (down 268% from profit in 2Q 2022). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. New Risk • Jul 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 6.9% 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 Interest payments are not well covered by earnings (0.3x net interest cover). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • May 06
Jiangxi Black Cat Carbon Black Inc.,Ltd, Annual General Meeting, May 22, 2023 Jiangxi Black Cat Carbon Black Inc.,Ltd, Annual General Meeting, May 22, 2023, at 14:00 China Standard Time. Agenda: To consider 2022 work report of the board of directors; to consider 2022 work report of the supervisory committee; to consider 2022 annual report and its summary; to consider 2022 annual accounts; to consider 2022 profit distribution plan; to consider 2022 internal control evaluation report; to consider Reappointment of 2023 audit firm; to consider 2023 application for total credit line to banks and relevant authorization; to consider Provision of guarantee for subsidiaries in 2023; to consider 2023 estimated amount of continuing connected transactions; and to consider Repurchase and cancellation of the locked restricted stocks granted to some plan participants and adjustment of the repurchase price. Reported Earnings • Apr 29
First quarter 2023 earnings released: CN¥0.14 loss per share (vs CN¥0.014 loss in 1Q 2022) First quarter 2023 results: CN¥0.14 loss per share (further deteriorated from CN¥0.014 loss in 1Q 2022). Revenue: CN¥2.21b (up 19% from 1Q 2022). Net loss: CN¥104.0m (loss widened CN¥93.5m from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of the Supervisory Board Qi You was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: CN¥0.043 loss per share (vs CN¥0.013 profit in 3Q 2021) Third quarter 2022 results: CN¥0.043 loss per share (down from CN¥0.013 profit in 3Q 2021). Revenue: CN¥2.65b (up 43% from 3Q 2021). Net loss: CN¥30.9m (down 410% from profit in 3Q 2021). Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Chemicals industry in China are expected to grow by 18%. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.25 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11 (down from CN¥0.25 in 2Q 2021). Revenue: CN¥2.81b (up 34% from 2Q 2021). Net income: CN¥78.6m (down 57% from 2Q 2021). Profit margin: 2.8% (down from 8.8% in 2Q 2021). Over the next year, revenue is forecast to grow 4.4%, compared to a 42% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥15.06, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 213% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥10.97, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Chemicals industry in China. Total returns to shareholders of 131% over the past three years. Reported Earnings • Apr 27
First quarter 2022 earnings released: CN¥0.014 loss per share (vs CN¥0.37 profit in 1Q 2021) First quarter 2022 results: CN¥0.014 loss per share (down from CN¥0.37 profit in 1Q 2021). Revenue: CN¥1.85b (flat on 1Q 2021). Net loss: CN¥10.4m (down 104% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 4.3%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥11.14, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 35x in the Chemicals industry in China. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥10.33, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 34x in the Chemicals industry in China. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥7.94, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 35x in the Chemicals industry in China. Total returns to shareholders of 29% over the past three years. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS CN¥0.013 (vs CN¥0.10 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.86b (up 34% from 3Q 2020). Net income: CN¥9.97m (down 86% from 3Q 2020). Profit margin: 0.5% (down from 5.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥7.49, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 32x in the Chemicals industry in China. Total returns to shareholders of 6.5% over the past three years. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥0.25 (vs CN¥0.089 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥2.10b (up 90% from 2Q 2020). Net income: CN¥185.0m (up CN¥250.1m from 2Q 2020). Profit margin: 8.8% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.37 (vs CN¥0.005 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥1.86b (up 69% from 1Q 2020). Net income: CN¥275.1m (up CN¥279.1m from 1Q 2020). Profit margin: 15% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorated over the past week After last week's 20% share price decline to CN¥7.19, the stock trades at a trailing P/E ratio of 53.9x. Average trailing P/E is 36x in the Chemicals industry in China. Total loss to shareholders of 14% over the past three years. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS CN¥0.13 (vs CN¥0.38 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥5.56b (down 15% from FY 2019). Net income: CN¥97.0m (up CN¥373.4m from FY 2019). Profit margin: 1.7% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 96% 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. Is New 90 Day High Low • Feb 20
New 90-day high: CN¥8.95 The company is up 36% from its price of CN¥6.60 on 20 November 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 20% over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: CN¥7.86 The company is up 38% from its price of CN¥5.69 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: CN¥7.50 The company is up 34% from its price of CN¥5.58 on 21 October 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: CN¥5.87 The company is up 8.0% from its price of CN¥5.42 on 13 August 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. Reported Earnings • Oct 20
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥145.5m, with losses narrowing by 13% from the prior year. Total revenue was CN¥5.30b over the last 12 months, down 24% from the prior year. Is New 90 Day High Low • Oct 12
New 90-day high: CN¥5.85 The company is up 26% from its price of CN¥4.65 on 14 July 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 2.0% over the same period. 
