Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥32.30, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 21x in the Chemicals industry in China. Total loss to shareholders of 1.3% over the past three years. Announcement • Jun 30
Hangzhou Oxygen Plant Group Co., Ltd. to Report First Half, 2026 Results on Aug 28, 2026 Hangzhou Oxygen Plant Group Co., Ltd. announced that they will report first half, 2026 results on Aug 28, 2026 Announcement • Jun 05
Hangzhou Oxygen Plant Group Co.,Ltd. Announces Final Cash Dividend on A Shares for the Year 2025, Payable on June 9, 2026 Hangzhou Oxygen Plant Group Co.,Ltd. announced final profit distribution plan of cash dividend/10 shares A shares (tax included) of CNY 3.00000000 for the year 2025. Payment date: 09 June 2026. Record date: 08 June 2026. Ex-date: 09 June 2026. Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Jianhua Yao was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 28
Hangzhou Oxygen Plant Group Co., Ltd., Annual General Meeting, May 19, 2026 Hangzhou Oxygen Plant Group Co., Ltd., Annual General Meeting, May 19, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Announcement • Mar 31
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 11, 2026 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 11, 2026 Announcement • Oct 14
Hangzhou Oxygen Plant Group Co.,Ltd. Approves Interim Cash Dividend for 2025 Hangzhou Oxygen Plant Group Co.,Ltd. held its 3rd Extraordinary General Meeting of 2025 on 10 October 2025, approved interim Cash dividend/10 shares (tax included): CNY 1.00000000 for 2025. Announcement • Sep 30
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Announcement • Jul 02
Hangzhou Oxygen Plant Group Co.,Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Apr 22
Hangzhou Oxygen Plant Group Co.,Ltd. Approves Dividend for the Year 2024 Hangzhou Oxygen Plant Group Co.,Ltd. approved at its AGM held on 18 April 2025 the cash dividend/10 shares (tax included) of CNY 3.00000000 for the year 2024. Announcement • Mar 31
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Mar 30
Hangzhou Oxygen Plant Group Co.,Ltd. Proposes Final Cash Dividend for 2024 Hangzhou Oxygen Plant Group Co.,Ltd. announced on 28 March 2025 the final profit distribution proposal for 2024 as Cash dividend/10 shares (tax included) of CNY 3.00000000. Announcement • Mar 28
Hangzhou Oxygen Plant Group Co.,Ltd., Annual General Meeting, Apr 18, 2025 Hangzhou Oxygen Plant Group Co.,Ltd., Annual General Meeting, Apr 18, 2025, at 14:30 China Standard Time. Location: Floor A, Executive Building, No. 799, Xiangfu Road, Qingshanhu Subdistrict, Lin'an District, Hangzhou, Zhejiang China Announcement • Jan 16
Hangzhou Oxygen Plant Group Co.,Ltd. (SZSE:002430) agreed to acquire 51% stake in Hangzhou New Century Mixed Gases Co., Ltd. from Shen Jianlin and Jia Yehua for approximately CNY 130 million. Hangzhou Oxygen Plant Group Co.,Ltd. (SZSE:002430) agreed to acquire 51% stake in Hangzhou New Century Mixed Gases Co., Ltd. from Shen Jianlin and Jia Yehua for approximately CNY 130 million on January 15, 2025. Hangzhou Oxygen Plant Group will use its own funds for the acquisition.
As of June 30, 2024, Hangzhou New Century Mixed Gases Co., Ltd. reported total assets of CNY 62.42 million and total common equity of CNY 54.38 million.
The deal has been approved by the board of Hangzhou Oxygen Plant Group. Announcement • Dec 31
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.33 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.24 (down from CN¥0.33 in 3Q 2023). Revenue: CN¥3.63b (up 8.7% from 3Q 2023). Net income: CN¥238.1m (down 27% from 3Q 2023). Profit margin: 6.6% (down from 9.8% in 3Q 2023). 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 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 28
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to CN¥24.66. The fair value is estimated to be CN¥20.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has declined by 5.0%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 61% in the next 2 years. New Risk • Sep 30
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: Minor Risks High level of debt (42% net debt to equity). Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • Sep 30
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥19.53, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.59 per share. New Risk • Aug 29
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.25 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.23 (down from CN¥0.25 in 2Q 2023). Revenue: CN¥3.42b (up 8.5% from 2Q 2023). Net income: CN¥233.2m (down 6.3% from 2Q 2023). Profit margin: 6.8% (down from 7.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% 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 5% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Aug 14
Hangzhou State-Owned Capital Investment and Operation Co., Ltd., Hangzhou Yuhang State-owned Capital Investment Management Group Co., Ltd., Hangzhou West Railway Station Hub Development Co., Ltd. and Hangzhou Chengxi Kechuang Investment Development Co., Ltd. agreed to acquire Hangzhou Hangyang Energy Management Services Co., Ltd. from Hangzhou Oxygen Plant Group Co.,Ltd. (SZSE:002430) for CNY 31.3 million. Hangzhou State-Owned Capital Investment and Operation Co., Ltd., Hangzhou Yuhang State-owned Capital Investment Management Group Co., Ltd., Hangzhou West Railway Station Hub Development Co., Ltd. and Hangzhou Chengxi Kechuang Investment Development Co., Ltd. agreed to acquire Hangzhou Hangyang Energy Management Services Co., Ltd. from Hangzhou Oxygen Plant Group Co.,Ltd. (SZSE:002430) for CNY 31.3 million on August 13, 2024. The transaction has been approved by the board of Hangzhou Oxygen Plant Group. Announcement • Jun 29
Hangzhou Oxygen Plant Group Co.,Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Declared Dividend • May 10
Dividend of CN¥0.80 announced Shareholders will receive a dividend of CN¥0.80. Ex-date: 15th May 2024 Payment date: 15th May 2024 Dividend yield will be 3.7%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (86% 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 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 69% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.28 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.21 (down from CN¥0.28 in 1Q 2023). Revenue: CN¥3.31b (flat on 1Q 2023). Net income: CN¥204.0m (down 26% from 1Q 2023). Profit margin: 6.2% (down from 8.4% in 1Q 2023). Revenue is forecast to grow 14% 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 3% per year whereas the company’s share price has fallen by 4% per year. Announcement • Mar 30
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Announcement • Mar 28
Hangzhou Oxygen Plant Group Co.,Ltd., Annual General Meeting, Apr 19, 2024 Hangzhou Oxygen Plant Group Co.,Ltd., Annual General Meeting, Apr 19, 2024, at 14:30 China Standard Time. Location: Tower A, Executive Building, No. 799, Xiangfu Road, Qingshanhu Subdistrict, Lin'an District, Hangzhou, Zhejiang China Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥1.24 (vs CN¥1.25 in FY 2022) Full year 2023 results: EPS: CN¥1.24. Revenue: CN¥13.3b (up 4.0% from FY 2022). Net income: CN¥1.22b (flat on FY 2022). Profit margin: 9.1% (in line with FY 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Chemicals industry in China. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥27.49, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 13x in the Chemicals industry in China. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥46.40 per share. Announcement • Dec 30
Hangzhou Oxygen Plant Group Co.,Ltd. to Report Fiscal Year 2023 Results on Mar 28, 2024 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report fiscal year 2023 results on Mar 28, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.33 (vs CN¥0.53 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.33 (down from CN¥0.53 in 3Q 2022). Revenue: CN¥3.34b (down 7.0% from 3Q 2022). Net income: CN¥326.1m (down 38% from 3Q 2022). Profit margin: 9.8% (down from 15% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% 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 5% per year whereas the company’s share price has increased by 3% per year. Announcement • Sep 14
Hangzhou Oxygen Plant Group Co.,Ltd. Approves Interim Cash Dividend for the Year 2023 Hangzhou Oxygen Plant Group Co.,Ltd. announced that at its Extraordinary General Meeting held on 12 September 2023, approved interim cash dividend/10 shares (tax included) of CNY 2.00000000 for the year 2023. New Risk • Aug 26
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 98% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Announcement • Aug 25
Hangzhou Oxygen Plant Group Co.,Ltd. Proposes Dividend for the First Half of 2023 Hangzhou Oxygen Plant Group Co.,Ltd. proposed Cash dividend/10 shares (tax included): CNY 2.00000000 for the first half of 2023. New Risk • Aug 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Jun 07
Hangzhou Oxygen Plant Group Co.,Ltd. Approves Board Elections Hangzhou Oxygen Plant Group Co.,Ltd. at its EGM held on June 5, 2023 approved election of Tian Baichen and Tong Jun as non-independent directors. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥35.65, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Chemicals industry in China. Total returns to shareholders of 220% over the past three years. Upcoming Dividend • May 02
Upcoming dividend of CN¥0.80 per share at 2.0% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 08 May 2023. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 2.0%. Within top quartile of Chinese dividend payers (2.0%). In line with average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥40.55, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Chemicals industry in China. Total returns to shareholders of 260% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.09 per share. Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: CN¥1.25 (vs CN¥1.24 in FY 2021) Full year 2022 results: EPS: CN¥1.25 (up from CN¥1.24 in FY 2021). Revenue: CN¥12.8b (up 7.8% from FY 2021). Net income: CN¥1.21b (up 1.4% from FY 2021). Profit margin: 9.5% (in line with FY 2021). Revenue is forecast to grow 21% 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 26% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Mar 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 8.3%. The fair value is estimated to be CN¥44.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to grow by 48% in 2 years. Earnings is forecast to grow by 54% in the next 2 years. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Director Xintu Lei was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.53 (vs CN¥0.38 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.53 (up from CN¥0.38 in 3Q 2021). Revenue: CN¥3.59b (up 7.3% from 3Q 2021). Net income: CN¥522.8m (up 44% from 3Q 2021). Profit margin: 15% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% 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 28% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.43 (vs CN¥0.40 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.43 (up from CN¥0.40 in 2Q 2021). Revenue: CN¥3.44b (up 7.3% from 2Q 2021). Net income: CN¥420.9m (up 9.2% from 2Q 2021). Profit margin: 12% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 20%, 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 25% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥36.55, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 222% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥38.64 per share. Buying Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be CN¥39.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 36% in 2 years. Earnings is forecast to grow by 47% in the next 2 years. Board Change • Jun 09
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Xintu Lei was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • May 19
Now 21% undervalued Over the last 90 days, the stock is up 1.7%. The fair value is estimated to be CN¥35.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 36% in 2 years. Earnings is forecast to grow by 47% in the next 2 years. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CN¥0.33 (vs CN¥0.31 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.33 (up from CN¥0.31 in 1Q 2021). Revenue: CN¥2.73b (up 14% from 1Q 2021). Net income: CN¥322.0m (up 7.7% from 1Q 2021). Profit margin: 12% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 17%, compared to a 43% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 26% per year. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. Independent Director Jing Liu is the most experienced director on the board, commencing their role in 2021. 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 • Mar 31
Full year 2021 earnings released: EPS: CN¥1.24 (vs CN¥0.87 in FY 2020) Full year 2021 results: EPS: CN¥1.24 (up from CN¥0.87 in FY 2020). Revenue: CN¥11.9b (up 19% from FY 2020). Net income: CN¥1.19b (up 42% from FY 2020). Profit margin: 10% (up from 8.4% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 47% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥29.60, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 161% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥30.68, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 217% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.38 (vs CN¥0.24 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥3.34b (up 21% from 3Q 2020). Net income: CN¥362.5m (up 56% from 3Q 2020). Profit margin: 11% (up from 8.4% in 3Q 2020). The increase in margin was 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 38% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥0.40 (vs CN¥0.29 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥3.21b (up 24% from 2Q 2020). Net income: CN¥385.4m (up 37% from 2Q 2020). Profit margin: 12% (up from 11% 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 42% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥39.70, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 22x in the Machinery industry in China. Total returns to shareholders of 220% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.62 per share. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥37.97, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 21x in the Machinery industry in China. Total returns to shareholders of 154% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥61.22 per share. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.31 (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¥2.41b (up 29% from 1Q 2020). Net income: CN¥298.9m (up 128% from 1Q 2020). Profit margin: 12% (up from 7.0% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS CN¥0.90 (vs CN¥0.66 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥10.0b (up 23% from FY 2019). Net income: CN¥866.1m (up 36% from FY 2019). Profit margin: 8.6% (up from 7.8% in FY 2019). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥27.10, the stock is trading at a trailing P/E ratio of 30.1x, down from the previous P/E ratio of 36.5x. This compares to an average P/E of 33x in the Machinery industry in China. Total returns to shareholders over the past year are 121%. Reported Earnings • Feb 10
Full year 2020 earnings released: EPS CN¥0.90 (vs CN¥0.66 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥10.0b (up 23% from FY 2019). Net income: CN¥866.1m (up 36% from FY 2019). Profit margin: 8.6% (up from 7.8% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Feb 10
Revenue beats expectations Revenue exceeded analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 8.5%, compared to a 26% growth forecast for the Machinery industry in China. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥32.09, the stock is trading at a trailing P/E ratio of 41.1x, up from the previous P/E ratio of 34x. This compares to an average P/E of 33x in the Machinery industry in China. Total returns to shareholders over the past year are 144%. Is New 90 Day High Low • Jan 27
New 90-day low: CN¥25.44 The company is down 5.0% from its price of CN¥26.75 on 29 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.88 per share. Is New 90 Day High Low • Nov 16
New 90-day high: CN¥31.02 The company is up 65% from its price of CN¥18.76 on 18 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.78 per share. Is New 90 Day High Low • Oct 31
New 90-day high: CN¥28.80 The company is up 57% from its price of CN¥18.39 on 31 July 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.79 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥749.5m, up 2.4% from the prior year. Total revenue was CN¥9.43b over the last 12 months, up 19% from the prior year. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 15% share price gain to CN¥25.87, the stock is trading at a trailing P/E ratio of 38.1x, up from the previous P/E ratio of 33.1x. This compares to an average P/E of 44x in the Machinery industry in China. Total returns to shareholders over the past year are 102%. Is New 90 Day High Low • Oct 10
New 90-day high: CN¥24.74 The company is up 67% from its price of CN¥14.80 on 10 July 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.88 per share. Is New 90 Day High Low • Sep 21
New 90-day high: CN¥23.86 The company is up 73% from its price of CN¥13.82 on 23 June 2020. The Chinese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.82 per share. Announcement • Jul 25
Hangzhou Oxygen Plant Group Co.,Ltd. to Report First Half, 2020 Results on Aug 21, 2020 Hangzhou Oxygen Plant Group Co.,Ltd. announced that they will report first half, 2020 results on Aug 21, 2020 
