Declared Dividend • Jun 08
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 11th June 2026 Payment date: 11th June 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 26
Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announces an Equity Buyback for CNY 400 million worth of its shares. Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announces a share repurchase program. Under the program, the company will repurchase up to CNY 400 million worth of its A shares. The shares will be repurchased at a price not more than CNY 20 per share. The company will made repurchases through company’s own funds. The purpose of the program is to use 60% of repurchased shares for ESOP or equity incentives and 40% shares to cancel and reduce registered capital. Shares not used within 3 years after the completion of the repurchase will be cancelled. The program is subject to shareholders approval. The program will be valid for 12 months from shareholders approval. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥13.79, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Pharmaceuticals industry in China. Total loss to shareholders of 53% over the past three years. Announcement • Apr 24
Zhejiang Jiuzhou Pharmaceutical Co., Ltd, Annual General Meeting, May 18, 2026 Zhejiang Jiuzhou Pharmaceutical Co., Ltd, Annual General Meeting, May 18, 2026, at 14:00 China Standard Time. Location: No. 99, Waisha Road, Jiaojiang District, Taizhou, Zhejiang China Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.28 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.19 (down from CN¥0.28 in 1Q 2025). Revenue: CN¥1.20b (down 19% from 1Q 2025). Net income: CN¥172.1m (down 31% from 1Q 2025). Profit margin: 14% (down from 17% in 1Q 2025). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 23% per year. Announcement • Mar 30
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Q1, 2026 Results on Apr 24, 2026 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Dec 26
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Fiscal Year 2025 Results on Apr 24, 2026 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report fiscal year 2025 results on Apr 24, 2026 Reported Earnings • Oct 17
Third quarter 2025 earnings released: EPS: CN¥0.25 (vs CN¥0.17 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.25 (up from CN¥0.17 in 3Q 2024). Revenue: CN¥1.29b (up 7.4% from 3Q 2024). Net income: CN¥221.8m (up 42% from 3Q 2024). Profit margin: 17% (up from 13% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 21% per year. Announcement • Sep 30
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Q3, 2025 Results on Oct 16, 2025 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report Q3, 2025 results on Oct 16, 2025 Price Target Changed • Aug 08
Price target increased by 21% to CN¥20.31 Up from CN¥16.75, the current price target is an average from 5 analysts. New target price is 12% above last closing price of CN¥18.17. Stock is up 30% over the past year. The company is forecast to post earnings per share of CN¥1.05 for next year compared to CN¥0.68 last year. Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: CN¥0.31 (vs CN¥0.27 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.31 (up from CN¥0.27 in 2Q 2024). Revenue: CN¥1.38b (up 7.2% from 2Q 2024). Net income: CN¥275.6m (up 16% from 2Q 2024). Profit margin: 20% (up from 19% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥19.68, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 23x in the Pharmaceuticals industry in China. Total loss to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥28.36 per share. Announcement • Jun 30
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report First Half, 2025 Results on Aug 06, 2025 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report first half, 2025 results on Aug 06, 2025 New Risk • Apr 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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: Minor Risks Dividend is not well covered by cash flows (436% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Apr 11
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.68 (down from CN¥1.16 in FY 2023). Revenue: CN¥5.16b (down 6.6% from FY 2023). Net income: CN¥606.1m (down 41% from FY 2023). Profit margin: 12% (down from 19% in FY 2023). Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Announcement • Apr 11
Zhejiang Jiuzhou Pharmaceutical Co., Ltd, Annual General Meeting, May 08, 2025 Zhejiang Jiuzhou Pharmaceutical Co., Ltd, Annual General Meeting, May 08, 2025, at 14:00 China Standard Time. Location: No. 99, Waisha Road, Jiaojiang District, Taizhou, Zhejiang China Announcement • Mar 28
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Q1, 2025 Results on Apr 15, 2025 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report Q1, 2025 results on Apr 15, 2025 Announcement • Mar 22
Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announces an Equity Buyback for CNY 200 million worth of its shares. Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at a price not more than RMB 20 per share. The company will made repurchases through company’s own funds. The purpose of the program is subsequent implementation of the equity incentive plan. The program will be valid for 12 months. Announcement • Dec 27
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Fiscal Year 2024 Results on Apr 11, 2025 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report fiscal year 2024 results on Apr 11, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.39 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (down from CN¥0.39 in 3Q 2023). Revenue: CN¥1.20b (down 9.2% from 3Q 2023). Net income: CN¥155.9m (down 55% from 3Q 2023). Profit margin: 13% (down from 26% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Q3, 2024 Results on Oct 25, 2024 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report Q3, 2024 results on Oct 25, 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¥14.46, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Pharmaceuticals industry in China. Total loss to shareholders of 72% over the past three years. Announcement • Sep 10
Frontage Laboratories (Shanghai) Co. Ltd. agreed to acquire remaining 25% stake in Frontage Laboratories (Suzhou) Co.,Ltd. from Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) for CNY 19.6 million. Frontage Laboratories (Shanghai) Co. Ltd. agreed to acquire remaining 25% stake in Frontage Laboratories (Suzhou) Co.,Ltd. from Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) for CNY 19.6 million on September 9, 2024. Upon completion, Frontage Laboratories (Shanghai) Co. Ltd. will own 100% stake in Frontage Laboratories (Suzhou) Co.,Ltd. As of June 30, 2024, Frontage Laboratories (Suzhou) Co.,Ltd. reported total assets of CNY 48.55 million and total common equity of CNY 29.7 million. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.27 (vs CN¥0.38 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.27 (down from CN¥0.38 in 2Q 2023). Revenue: CN¥1.29b (down 14% from 2Q 2023). Net income: CN¥238.2m (down 30% from 2Q 2023). Profit margin: 19% (down from 23% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 28
Price target decreased by 13% to CN¥20.15 Down from CN¥23.20, the current price target is an average from 4 analysts. New target price is 65% above last closing price of CN¥12.25. Stock is down 55% over the past year. The company is forecast to post earnings per share of CN¥1.28 for next year compared to CN¥1.16 last year. Declared Dividend • Jun 29
Dividend of CN¥0.50 announced Shareholders will receive a dividend of CN¥0.50. Ex-date: 4th July 2024 Payment date: 4th July 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (45% 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 28% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 28
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report First Half, 2024 Results on Aug 27, 2024 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report first half, 2024 results on Aug 27, 2024 Buy Or Sell Opportunity • Jun 04
Now 22% overvalued Over the last 90 days, the stock has fallen 26% to CN¥15.00. The fair value is estimated to be CN¥12.34, however this is not to be taken as a sell 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 23%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.26 (vs CN¥0.32 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.26 (down from CN¥0.32 in 1Q 2023). Revenue: CN¥1.48b (down 16% from 1Q 2023). Net income: CN¥236.8m (down 16% from 1Q 2023). Profit margin: 16% (in line with 1Q 2023). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 25
Now 21% overvalued Over the last 90 days, the stock has fallen 22% to CN¥15.11. The fair value is estimated to be CN¥12.52, however this is not to be taken as a sell 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 23%. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Price Target Changed • Apr 10
Price target decreased by 13% to CN¥32.14 Down from CN¥37.04, the current price target is an average from 3 analysts. New target price is 96% above last closing price of CN¥16.43. Stock is down 52% over the past year. The company is forecast to post earnings per share of CN¥1.66 for next year compared to CN¥1.16 last year. Buy Or Sell Opportunity • Apr 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to CN¥16.43. The fair value is estimated to be CN¥20.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 84% in 2 years. Earnings are forecast to grow by 92% in the next 2 years. Announcement • Apr 09
Zhejiang Jiuzhou Pharmaceutical Co., Ltd, Annual General Meeting, May 16, 2024 Zhejiang Jiuzhou Pharmaceutical Co., Ltd, Annual General Meeting, May 16, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Taizhou, Zhejiang China Reported Earnings • Apr 09
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.16 (up from CN¥1.11 in FY 2022). Revenue: CN¥5.52b (up 1.4% from FY 2022). Net income: CN¥1.03b (up 12% from FY 2022). Profit margin: 19% (up from 17% in FY 2022). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Mar 29
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Q1, 2024 Results on Apr 25, 2024 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report Q1, 2024 results on Apr 25, 2024 Buy Or Sell Opportunity • Mar 11
Now 24% overvalued Over the last 90 days, the stock has fallen 24% to CN¥19.60. The fair value is estimated to be CN¥15.81, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 74% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥20.07, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Pharmaceuticals industry in China. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.81 per share. Buy Or Sell Opportunity • Feb 06
Now 23% overvalued Over the last 90 days, the stock has fallen 38% to CN¥18.07. The fair value is estimated to be CN¥14.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 74% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Announcement • Dec 30
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Fiscal Year 2023 Results on Apr 09, 2024 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report fiscal year 2023 results on Apr 09, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.39 (vs CN¥0.34 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.39 (up from CN¥0.34 in 3Q 2022). Revenue: CN¥1.32b (down 6.8% from 3Q 2022). Net income: CN¥345.0m (up 25% from 3Q 2022). Profit margin: 26% (up from 19% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: CN¥0.38 (vs CN¥0.31 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.38 (up from CN¥0.31 in 2Q 2022). Revenue: CN¥1.50b (down 4.9% from 2Q 2022). Net income: CN¥341.0m (up 31% from 2Q 2022). Profit margin: 23% (up from 17% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report First Half, 2023 Results on Aug 15, 2023 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report first half, 2023 results on Aug 15, 2023 Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.32 (vs CN¥0.25 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.32 (up from CN¥0.25 in 1Q 2022). Revenue: CN¥1.75b (up 28% from 1Q 2022). Net income: CN¥280.7m (up 35% from 1Q 2022). Profit margin: 16% (in line with 1Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.8%. The fair value is estimated to be CN¥46.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 57% in 2 years. Earnings is forecast to grow by 59% in the next 2 years. Price Target Changed • Nov 22
Price target decreased to CN¥50.46 Down from CN¥63.18, the current price target is an average from 2 analysts. New target price is 18% above last closing price of CN¥42.70. Stock is down 24% over the past year. The company is forecast to post earnings per share of CN¥1.12 for next year compared to CN¥0.77 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Li Jijin was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.34 (vs CN¥0.24 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.34 (up from CN¥0.24 in 3Q 2021). Revenue: CN¥1.42b (up 25% from 3Q 2021). Net income: CN¥275.2m (up 39% from 3Q 2021). Profit margin: 19% (up from 18% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Pharmaceuticals industry in China. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Announcement • Sep 01
Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announces an Equity Buyback for CNY 100 million worth of its shares. Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announces a share repurchase program. Under the program, the company will repurchase up to CNY 1000 million worth of its shares. The shares will be purchased at a price not more than CNY 60 per share. The repurchases will be funded by the company's own funds. The shares repurchased will be used for the subsequent implementation of the equity incentive plan. The plan will be valid for 12 months. Announcement • Aug 05
Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that it expects to receive CNY 2.5 billion in funding Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced a private placement of shares for gross proceeds up to CNY 2500 million on August 4, 2022. Reported Earnings • Jul 23
Second quarter 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.22 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.31 (up from CN¥0.22 in 2Q 2021). Revenue: CN¥1.58b (up 56% from 2Q 2021). Net income: CN¥258.6m (up 43% from 2Q 2021). Profit margin: 16% (down from 18% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 20%, compared to a 24% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target decreased to CN¥63.18 Down from CN¥68.83, the current price target is an average from 5 analysts. New target price is 37% above last closing price of CN¥46.20. Stock is up 5.5% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥0.77 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 21
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: CN¥0.25 (up from CN¥0.11 in 1Q 2021). Revenue: CN¥1.37b (up 61% from 1Q 2021). Net income: CN¥207.8m (up 120% from 1Q 2021). Profit margin: 15% (up from 11% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 24%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥49.59, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 22x in the Pharmaceuticals industry in China. Total returns to shareholders of 547% over the past three years. Announcement • Jan 05
Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) signed Investment Agreement to acquire a 25.8% stake in Nan Jing Kang Chuan Ji Pharmatech Co., Ltd. from Yin Laisheng for CNY 40 million. Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) signed Investment Agreement to acquire a 25.8% stake in Nan Jing Kang Chuan Ji Pharmatech Co., Ltd. from Yin Laisheng for CNY 40 million on December 31, 2021. Under the terms, Zhejiang Jiuzhou will pay to Yin Laisheng CNY 10 million within 5 working days after the agreement becomes effective, CNY 10 million within 15 days after the completion, and the remaining amount within 6 months after the completion of the transfer and capital increase. Zhejiang Jiuzhou will also carry out its capital increase of CNY 80 million, subscribing to new registered capital of CNY 1.13 million. Following completion of both the transactions, Zhejiang Jiuzhou will hold 51% stake, Yin Lifang will hold 39% stake, Nanjing Jikang Enterprise Management Partnership Enterprise (Limited Partnership) will hold 10% stake and Yin Laisheng will cease to have any stake in Nan Jing Kang Chuan Ji Pharmatech. As of June 30, 2021, Nan Jing Kang Chuan Ji Pharmatech reported net assets of CNY 17.8 million and Total Assets of CNY 26.6 million. The transaction is approved by the board of directors of Zhejiang Jiuzhou Pharmaceutical and does not need the Shareholders approval. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥49.21, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 23x in the Pharmaceuticals industry in China. Total returns to shareholders of 663% over the past three years. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥54.20, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 22x in the Pharmaceuticals industry in China. Total returns to shareholders of 642% over the past three years. Price Target Changed • Nov 03
Price target increased to CN¥69.15 Up from CN¥61.33, the current price target is an average from 3 analysts. New target price is 46% above last closing price of CN¥47.31. Stock is up 46% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.47 last year. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.14 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥1.14b (up 54% from 3Q 2020). Net income: CN¥198.3m (up 80% from 3Q 2020). Profit margin: 18% (up from 15% 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 49% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥50.25, the stock trades at a forward P/E ratio of 61x. Average forward P/E is 21x in the Pharmaceuticals industry in China. Total returns to shareholders of 711% over the past three years. Reported Earnings • Aug 22
Second quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.12 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.01b (up 64% from 2Q 2020). Net income: CN¥180.4m (up 86% from 2Q 2020). Profit margin: 18% (up from 16% 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 44% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.04 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥856.1m (up 119% from 1Q 2020). Net income: CN¥94.4m (up 191% from 1Q 2020). Profit margin: 11% (up from 8.3% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 09
New 90-day low: CN¥30.48 The company is down 4.0% from its price of CN¥31.81 on 09 December 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Pharmaceuticals industry, which is also down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥21.20 per share. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥30.48, the stock is trading at a trailing P/E ratio of 70.7x, down from the previous P/E ratio of 85.5x. This compares to an average P/E of 30x in the Pharmaceuticals industry in China. Total returns to shareholders over the past three years are 219%. Is New 90 Day High Low • Jan 20
New 90-day high: CN¥38.24 The company is up 11% from its price of CN¥34.30 on 22 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 Pharmaceuticals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥21.89 per share. Is New 90 Day High Low • Dec 21
New 90-day high: CN¥35.97 The company is up 19% from its price of CN¥30.22 on 22 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥21.89 per share. Is New 90 Day High Low • Nov 18
New 90-day low: CN¥29.09 The company is down 6.0% from its price of CN¥30.87 on 20 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥18.53 per share. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥341.5m, up 72% from the prior year. Total revenue was CN¥2.40b over the last 12 months, up 23% from the prior year. Announcement • Oct 19
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report Q3, 2020 Results on Oct 22, 2020 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report Q3, 2020 results on Oct 22, 2020 Announcement • Sep 09
Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that it expects to receive CNY 1 billion in funding Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHSE:603456) announced a private placement of not more than 45,000,000 A shares for gross proceeds of not more than CNY 1,000,000,000 on September 7, 2020. The transaction will not include participation from more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved at the 29th meeting of the company's 6th directorate and is subject to the approvals of the 2nd special shareholders' meeting of 2020 to be held on September 23, 2020 and the China Securities Regulatory Commission. Announcement • Jul 09
Zhejiang Jiuzhou Pharmaceutical Co., Ltd to Report First Half, 2020 Results on Aug 26, 2020 Zhejiang Jiuzhou Pharmaceutical Co., Ltd announced that they will report first half, 2020 results on Aug 26, 2020