Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥26.57, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 27x in the Media industry in China. Total loss to shareholders of 6.2% over the past three years. Declared Dividend • Jul 27
Dividend of CN¥0.19 announced Shareholders will receive a dividend of CN¥0.19. Ex-date: 30th July 2026 Payment date: 30th July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 73% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 30
Citic Press Corporation to Report First Half, 2026 Results on Aug 25, 2026 Citic Press Corporation announced that they will report first half, 2026 results on Aug 25, 2026 Announcement • Jun 04
Citic Press Corporation, Annual General Meeting, Jun 26, 2026 Citic Press Corporation, Annual General Meeting, Jun 26, 2026, at 14:30 China Standard Time. Location: 18F, Block A, No. 27, Dongsanhuan North Road, Chaoyang District, Beijing China Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥30.46, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 29x in the Media industry in China. Total loss to shareholders of 8.1% over the past three years. Reported Earnings • Apr 28
First quarter 2026 earnings released: EPS: CN¥0.22 (vs CN¥0.29 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.22 (down from CN¥0.29 in 1Q 2025). Revenue: CN¥402.2m (down 4.0% from 1Q 2025). Net income: CN¥41.6m (down 23% from 1Q 2025). Profit margin: 10% (down from 13% in 1Q 2025). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Buy Or Sell Opportunity • Apr 20
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to CN¥36.78. The fair value is estimated to be CN¥28.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.2%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Announcement • Mar 31
Citic Press Corporation to Report Q1, 2026 Results on Apr 28, 2026 Citic Press Corporation announced that they will report Q1, 2026 results on Apr 28, 2026 Major Estimate Revision • Mar 23
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥1.81b to CN¥1.78b. EPS estimate also fell from CN¥1.09 per share to CN¥0.923 per share. Net income forecast to grow 35% next year vs 49% growth forecast for Media industry in China. Consensus price target down from CN¥35.50 to CN¥34.36. Share price fell 17% to CN¥30.00 over the past week. Reported Earnings • Mar 18
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.68 (up from CN¥0.62 in FY 2024). Revenue: CN¥1.70b (flat on FY 2024). Net income: CN¥130.1m (up 9.6% from FY 2024). Profit margin: 7.6% (up from 7.0% in FY 2024). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Media 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 10% per year. New Risk • Feb 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 8.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥42.74, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 26x in the Media industry in China. Total returns to shareholders of 95% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥31.15 per share. Buy Or Sell Opportunity • Feb 25
Now 37% overvalued after recent price rise Over the last 90 days, the stock has risen 46% to CN¥42.74. The fair value is estimated to be CN¥31.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 8.7% in 2 years. Earnings are forecast to grow by 65% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥34.70, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 28x in the Media industry in China. Total returns to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥31.15 per share. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥32.35, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Media industry in China. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥30.46 per share. Announcement • Dec 31
Citic Press Corporation to Report Fiscal Year 2025 Results on Mar 17, 2026 Citic Press Corporation announced that they will report fiscal year 2025 results on Mar 17, 2026 Board Change • Dec 25
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent director Jian Su was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.19 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.19 in 3Q 2024). Revenue: CN¥418.5m (up 4.4% from 3Q 2024). Net income: CN¥39.7m (up 6.5% from 3Q 2024). Profit margin: 9.5% (in line with 3Q 2024). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 21
Now 20% overvalued Over the last 90 days, the stock has fallen 8.3% to CN¥28.93. The fair value is estimated to be CN¥24.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Earnings per share has declined by 8.8%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. Announcement • Sep 30
Citic Press Corporation to Report Q3, 2025 Results on Oct 30, 2025 Citic Press Corporation announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jul 02
Citic Press Corporation to Report First Half, 2025 Results on Aug 28, 2025 Citic Press Corporation announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 24
Citic Press Corporation Approves Cash Dividend for 2024 Citic Press Corporation at its Annual General Meeting held on 22 May 2025 approved cash dividend of CNY 3.18000000 per 10 shares (tax included) for 2024. Announcement • Apr 30
Citic Press Corporation, Annual General Meeting, May 22, 2025 Citic Press Corporation, Annual General Meeting, May 22, 2025, at 14:30 China Standard Time. Location: 18F, Block A, No. 27, Dongsanhuan North Road, Chaoyang District, Beijing China Reported Earnings • Apr 26
First quarter 2025 earnings released: EPS: CN¥0.29 (vs CN¥0.20 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.29 (up from CN¥0.20 in 1Q 2024). Revenue: CN¥418.7m (up 4.2% from 1Q 2024). Net income: CN¥54.3m (up 43% from 1Q 2024). Profit margin: 13% (up from 9.4% in 1Q 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Media 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 increased by 17% per year, which means it is well ahead of earnings. New Risk • Apr 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 8.0% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥25.88, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 23x in the Media industry in China. Total returns to shareholders of 20% over the past three years. Announcement • Mar 31
Citic Press Corporation to Report Q1, 2025 Results on Apr 26, 2025 Citic Press Corporation announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Mar 19
Citic Press Corporation Proposes Final Cash Dividend for 2024 Citic Press Corporation announced profit distribution proposal for 2024: final Cash dividend/10 shares (tax included): CNY 3.18000000. Price Target Changed • Mar 19
Price target increased by 7.9% to CN¥32.24 Up from CN¥29.88, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of CN¥32.60. Stock is down 1.2% over the past year. The company is forecast to post earnings per share of CN¥1.03 for next year compared to CN¥0.62 last year. Reported Earnings • Mar 18
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.62 (up from CN¥0.61 in FY 2023). Revenue: CN¥1.69b (down 1.7% from FY 2023). Net income: CN¥118.7m (up 2.0% from FY 2023). Profit margin: 7.0% (up from 6.8% in FY 2023). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Dec 31
Citic Press Corporation to Report Fiscal Year 2024 Results on Mar 18, 2025 Citic Press Corporation announced that they will report fiscal year 2024 results on Mar 18, 2025 Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥36.55, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 21x in the Media industry in China. Total returns to shareholders of 45% over the past three years. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.19 (vs CN¥0.18 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.19 (up from CN¥0.18 in 3Q 2023). Revenue: CN¥400.9m (down 2.9% from 3Q 2023). Net income: CN¥37.2m (up 5.1% from 3Q 2023). Profit margin: 9.3% (up from 8.6% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Sep 30
Citic Press Corporation to Report Q3, 2024 Results on Oct 30, 2024 Citic Press Corporation announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to CN¥30.42, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Media industry in China. Total loss to shareholders of 4.2% over the past three years. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.29 (vs CN¥0.26 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.29 (up from CN¥0.26 in 2Q 2023). Revenue: CN¥403.0m (down 9.6% from 2Q 2023). Net income: CN¥55.0m (up 13% from 2Q 2023). Profit margin: 14% (up from 11% in 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CN¥29.86, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 17x in the Media industry in China. Total returns to shareholders of 4.8% over the past three years. Declared Dividend • Aug 02
Dividend reduced to CN¥0.31 Dividend of CN¥0.31 is 12% lower than last year. Ex-date: 7th August 2024 Payment date: 7th August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 77% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 29
Citic Press Corporation to Report First Half, 2024 Results on Aug 30, 2024 Citic Press Corporation announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Jun 02
Citic Press Corporation, Annual General Meeting, Jun 27, 2024 Citic Press Corporation, Annual General Meeting, Jun 27, 2024, at 14:30 China Standard Time. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.22 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.20 (down from CN¥0.22 in 1Q 2023). Revenue: CN¥402.1m (down 5.8% from 1Q 2023). Net income: CN¥37.9m (down 9.9% from 1Q 2023). Profit margin: 9.4% (in line with 1Q 2023). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Media industry in China. 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 11% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Citic Press Corporation to Report Q1, 2024 Results on Apr 29, 2024 Citic Press Corporation announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥36.03, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 20x in the Media industry in China. Total loss to shareholders of 14% over the past three years. Major Estimate Revision • Mar 21
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥2.22b to CN¥1.90b. EPS estimate fell from CN¥1.29 to CN¥0.833 per share. Net income forecast to grow 36% next year vs 35% growth forecast for Media industry in China. Consensus price target broadly unchanged at CN¥32.63. Share price rose 12% to CN¥34.23 over the past week. Reported Earnings • Mar 15
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.61 (down from CN¥0.66 in FY 2022). Revenue: CN¥1.72b (down 4.7% from FY 2022). Net income: CN¥116.4m (down 7.7% from FY 2022). Profit margin: 6.8% (down from 7.0% in FY 2022). Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Media 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 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to CN¥31.88, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Media industry in China. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥23.90, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Media industry in China. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥10.83 per share. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥30.34, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Media industry in China. Total loss to shareholders of 15% over the past three years. Announcement • Dec 29
Citic Press Corporation to Report Fiscal Year 2023 Results on Mar 15, 2024 Citic Press Corporation announced that they will report fiscal year 2023 results on Mar 15, 2024 Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥33.82, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Media industry in China. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥32.38, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 19x in the Media industry in China. Total loss to shareholders of 30% over the past three years. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.095 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.095 in 3Q 2022). Revenue: CN¥413.0m (down 13% from 3Q 2022). Net income: CN¥35.4m (up 94% from 3Q 2022). Profit margin: 8.6% (up from 3.8% in 3Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media 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 only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Citic Press Corporation to Report Q3, 2023 Results on Oct 26, 2023 Citic Press Corporation announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: CN¥0.26 (vs CN¥0.25 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.26 (up from CN¥0.25 in 2Q 2022). Revenue: CN¥445.9m (up 2.2% from 2Q 2022). Net income: CN¥48.8m (flat on 2Q 2022). Profit margin: 11% (in line with 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 27% 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 • Jul 22
Citic Press Corporation Announces Final Dividend on A Shares for the Year 2022, Payable on July 25, 2023 Citic Press Corporation announced final cash dividend/10 shares (tax included) of CNY 3.52000000 on A shares for the year 2022. Record date is July 24, 2023. Ex-date is July 25, 2023. Payment date is July 25, 2023. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥46.75, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 20x in the Media industry in China. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥34.49, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 21x in the Media industry in China. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.47 per share. Announcement • May 13
Citic Press Corporation, Annual General Meeting, May 30, 2023 Citic Press Corporation, Annual General Meeting, May 30, 2023, at 14:30 China Standard Time. Agenda: To consider 2022 work report of the board of directors; to consider 2022 annual report and its summary; to consider 2022 annual accounts; to consider 2022 profit distribution plan; to consider Confirmation of 2022 continuing connected transactions and 2023 estimated continuing connected transactions; to consider amendments to the Company's articles of association; and to consider 2022 work report of the supervisory committee. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥30.35, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Media industry in China. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.40 per share. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥33.05, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 22x in the Media industry in China. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.33 per share. Reported Earnings • Mar 30
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.66 (down from CN¥1.27 in FY 2021). Revenue: CN¥1.80b (down 6.3% from FY 2021). Net income: CN¥126.1m (down 48% from FY 2021). Profit margin: 7.0% (down from 13% in FY 2021). Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥31.40, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 21x in the Media industry in China. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥24.11 per share. Price Target Changed • Mar 02
Price target increased by 7.1% to CN¥26.83 Up from CN¥25.06, the current price target is an average from 4 analysts. New target price is 17% above last closing price of CN¥22.99. Stock is down 14% over the past year. The company is forecast to post earnings per share of CN¥1.12 for next year compared to CN¥1.27 last year. Board Change • Jan 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Zhiyue Zhang 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. Price Target Changed • Dec 20
Price target decreased to CN¥25.06 Down from CN¥27.78, the current price target is an average from 4 analysts. New target price is 27% above last closing price of CN¥19.73. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥1.16 for next year compared to CN¥1.27 last year. Buying Opportunity • Dec 14
Now 22% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be CN¥26.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 10.0%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 64% in the next 2 years. Announcement • Dec 13
Citic Press Corporation Announces Executive Appointments Citic Press Corporation at its 1st Extraordinary General Meeting of 2022 on 09 December 2022 approved: Wang Feiyue and Zhang Zhiyue as independent directors. Price Target Changed • Nov 16
Price target decreased to CN¥25.06 Down from CN¥27.78, the current price target is an average from 4 analysts. New target price is 22% above last closing price of CN¥20.62. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥1.16 for next year compared to CN¥1.27 last year. Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Director Jun Song 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 25
Third quarter 2022 earnings released: EPS: CN¥0.26 (vs CN¥0.30 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.26 (down from CN¥0.30 in 3Q 2021). Revenue: CN¥479.0m (up 5.7% from 3Q 2021). Net income: CN¥49.1m (down 13% from 3Q 2021). Profit margin: 10% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Price Target Changed • Oct 25
Price target decreased to CN¥25.06 Down from CN¥27.78, the current price target is an average from 4 analysts. New target price is 45% above last closing price of CN¥17.32. Stock is down 46% over the past year. The company is forecast to post earnings per share of CN¥1.19 for next year compared to CN¥1.27 last year. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.25 (vs CN¥0.43 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.25 (down from CN¥0.43 in 2Q 2021). Revenue: CN¥436.4m (down 8.9% from 2Q 2021). Net income: CN¥48.7m (down 40% from 2Q 2021). Profit margin: 11% (down from 17% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 26%, compared to a 14% growth forecast for the Media 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 fallen by 23% per year, which means it is performing significantly worse than earnings. Announcement • Aug 04
Citic Press Corporation Announces Final Profit Distribution Plan for 2021, Payable on 10 August 2022 Citic Press Corporation announced 2021 final profit distribution plan to be implemented (A shares): cash dividend (tax included) of CNY 5.08000000 per ten shares. Record date is 09 August 2022. Ex-date is 10 August 2022 and payment date is 10 August 2022. Announcement • Jun 23
Citic Press Corporation Approves Cash Dividend for the Year 2021 Citic Press Corporation held its Annual General Meeting of 2021 on June 21, 2022, approved Cash dividend (tax included) of CNY 5.08000000 per 10 shares for the year 2021. Announcement • Jun 02
Citic Press Corporation, Annual General Meeting, Jun 21, 2022 Citic Press Corporation, Annual General Meeting, Jun 21, 2022, at 14:30 China Standard Time. Agenda: 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 annual report and its summary; to consider 2021 profit distribution plan; to consider 2022 estimated continuing connected transactions; to consider renewal of a financial service agreement with a company; to consider cash management with idle proprietary funds; and to transact such other business issues. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥22.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Media industry in China. Total loss to shareholders of 46% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥11.64 per share. Major Estimate Revision • May 04
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥2.16b to CN¥2.08b. EPS estimate also fell from CN¥1.49 per share to CN¥1.21 per share. Net income forecast to grow 30% next year vs 28% growth forecast for Media industry in China. Consensus price target of CN¥28.43 unchanged from last update. Share price was steady at CN¥18.09 over the past week. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.22 (down from CN¥0.33 in 1Q 2021). Revenue: CN¥411.5m (down 13% from 1Q 2021). Net income: CN¥41.0m (down 35% from 1Q 2021). Profit margin: 10.0% (down from 13% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 19%, compared to a 14% growth forecast for the industry in China. Price Target Changed • Apr 27
Price target decreased to CN¥29.36 Down from CN¥32.23, the current price target is an average from 5 analysts. New target price is 64% above last closing price of CN¥17.90. Stock is down 58% over the past year. The company is forecast to post earnings per share of CN¥1.49 for next year compared to CN¥1.27 last 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. 2 experienced directors. 3 highly experienced directors. Member of the Supervisory Board Yan Gao is the most experienced director on the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Buying Opportunity • Apr 13
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be CN¥28.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Price Target Changed • Apr 06
Price target decreased to CN¥32.23 Down from CN¥37.52, the current price target is an average from 5 analysts. New target price is 29% above last closing price of CN¥24.95. Stock is down 42% over the past year. The company is forecast to post earnings per share of CN¥1.41 for next year compared to CN¥1.27 last year.