Declared Dividend • Jul 20
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 24th July 2026 Payment date: 24th July 2026 Dividend yield will be 0.3%, which is lower than the industry average of 3.4%. Sustainability & Growth Dividend is covered by earnings (33% 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 decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 64% to shift the payout ratio to a potentially unsustainable range, which is more than the 17% EPS decline seen over the last 5 years. Announcement • Jul 01
ChengDu Hi-Tech Development Co., Ltd. to Report First Half, 2026 Results on Aug 24, 2026 ChengDu Hi-Tech Development Co., Ltd. announced that they will report first half, 2026 results on Aug 24, 2026 Announcement • Jun 16
ChengDu Hi-Tech Development Co., Ltd. Approves Cash Dividend for 2025 ChengDu Hi-Tech Development Co., Ltd. announced that at its 2025 Annual General Meeting held on 12 June 2026, approved 2025 cash dividend of CNY 1.00000000 per 10 shares (tax included). Announcement • May 25
ChengDu Hi-Tech Development Co., Ltd., Annual General Meeting, Jun 12, 2026 ChengDu Hi-Tech Development Co., Ltd., Annual General Meeting, Jun 12, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Chengdu, Sichuan China New Risk • Apr 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 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.0% operating cash flow to total debt). Earnings have declined by 14% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.005 (vs CN¥0.008 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.005 (down from CN¥0.008 in 1Q 2025). Revenue: CN¥557.8m (down 23% from 1Q 2025). Net income: CN¥1.79m (down 36% from 1Q 2025). Profit margin: 0.3% (down from 0.4% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 65% per year, which means it is well ahead of earnings. Announcement • Mar 31
ChengDu Hi-Tech Development Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 ChengDu Hi-Tech Development Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 08
Full year 2025 earnings released: EPS: CN¥0.33 (vs CN¥0.17 in FY 2024) Full year 2025 results: EPS: CN¥0.33 (up from CN¥0.17 in FY 2024). Revenue: CN¥5.00b (down 30% from FY 2024). Net income: CN¥114.8m (up 87% from FY 2024). Profit margin: 2.3% (up from 0.9% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 56% per year, which means it is well ahead of earnings. Announcement • Dec 31
ChengDu Hi-Tech Development Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 ChengDu Hi-Tech Development Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 New Risk • Nov 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings have declined by 8.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.08 (vs CN¥0.17 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.08 (down from CN¥0.17 in 3Q 2024). Revenue: CN¥1.03b (down 37% from 3Q 2024). Net income: CN¥28.3m (down 54% from 3Q 2024). Profit margin: 2.8% (down from 3.8% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 59% per year, which means it is well ahead of earnings. Announcement • Sep 30
ChengDu Hi-Tech Development Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 ChengDu Hi-Tech Development Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Sep 04
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 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (3.7% operating cash flow to total debt). Earnings have declined by 2.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: CN¥0.18 (vs CN¥0.069 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.18 (up from CN¥0.069 in 2Q 2024). Revenue: CN¥1.77b (down 5.0% from 2Q 2024). Net income: CN¥64.1m (up 165% from 2Q 2024). Profit margin: 3.6% (up from 1.3% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 64% per year, which means it is well ahead of earnings. Announcement • Jul 02
ChengDu Hi-Tech Development Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 ChengDu Hi-Tech Development Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jun 06
ChengDu Hi-Tech Development Co., Ltd., Annual General Meeting, Jun 27, 2025 ChengDu Hi-Tech Development Co., Ltd., Annual General Meeting, Jun 27, 2025, at 13:30 China Standard Time. Location: The Company's Meeting Room, Chengdu, Sichuan China Board Change • May 07
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. Supervisor Hui Zheng is the most experienced director on the board, commencing their role in 2019. 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 • Apr 27
Full year 2024 earnings released: EPS: CN¥0.17 (vs CN¥1.04 in FY 2023) Full year 2024 results: EPS: CN¥0.17 (down from CN¥1.04 in FY 2023). Revenue: CN¥7.13b (down 11% from FY 2023). Net income: CN¥61.4m (down 83% from FY 2023). Profit margin: 0.9% (down from 4.6% in FY 2023). 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 66% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 31
ChengDu Hi-Tech Development Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 ChengDu Hi-Tech Development Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Mar 08
Full year 2024 earnings released: EPS: CN¥0.17 (vs CN¥1.04 in FY 2023) Full year 2024 results: EPS: CN¥0.17 (down from CN¥1.04 in FY 2023). Revenue: CN¥7.13b (down 11% from FY 2023). Net income: CN¥59.5m (down 84% from FY 2023). Profit margin: 0.8% (down from 4.6% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥51.42, the stock trades at a trailing P/E ratio of 77.9x. Average trailing P/E is 46x in the Real Estate industry in China. Total returns to shareholders of 385% over the past three years. Announcement • Dec 31
ChengDu Hi-Tech Development Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 ChengDu Hi-Tech Development Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 New Risk • Oct 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.8% Last year net profit margin: 5.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). Reported Earnings • Oct 28
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.46 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (down from CN¥0.46 in 3Q 2023). Revenue: CN¥1.64b (down 2.3% from 3Q 2023). Net income: CN¥61.8m (down 62% from 3Q 2023). Profit margin: 3.8% (down from 9.6% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 107% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥65.69, the stock trades at a trailing P/E ratio of 69.8x. Average trailing P/E is 46x in the Real Estate industry in China. Total returns to shareholders of 708% over the past three years. Announcement • Sep 30
ChengDu Hi-Tech Development Co., Ltd. to Report Q3, 2024 Results on Oct 28, 2024 ChengDu Hi-Tech Development Co., Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥49.48, the stock trades at a trailing P/E ratio of 52.6x. Average trailing P/E is 42x in the Real Estate industry in China. Total returns to shareholders of 496% over the past three years. Announcement • Aug 17
Chengdu Hi-Tech Development Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on August 2024 ChengDu Hi-Tech Development Co., Ltd. announced final cash dividend of CNY 1.52000000 per 10 shares (tax included) on A shares for the year 2023. Record date is 22 August 2024, Ex-date is 23 August 2024 and Payment date is 23 August 2024. Announcement • Jun 29
ChengDu Hi-Tech Development Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 ChengDu Hi-Tech Development Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥51.82, the stock trades at a trailing P/E ratio of 49.5x. Average trailing P/E is 35x in the Real Estate industry in China. Total returns to shareholders of 518% over the past three years. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.098 (vs CN¥0.089 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.098 (up from CN¥0.089 in 1Q 2023). Revenue: CN¥1.16b (up 27% from 1Q 2023). Net income: CN¥34.5m (up 9.7% from 1Q 2023). Profit margin: 3.0% (down from 3.5% in 1Q 2023). The decrease in margin was driven by higher expenses. 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 79% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥44.91, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 21x in the Real Estate industry in China. Total returns to shareholders of 416% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥72.46, the stock trades at a trailing P/E ratio of 69.8x. Average trailing P/E is 22x in the Real Estate industry in China. Total returns to shareholders of 701% over the past three years. Announcement • Mar 30
ChengDu Hi-Tech Development Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 ChengDu Hi-Tech Development Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: CN¥1.05 (vs CN¥0.56 in FY 2022) Full year 2023 results: EPS: CN¥1.05 (up from CN¥0.56 in FY 2022). Revenue: CN¥7.97b (up 21% from FY 2022). Net income: CN¥368.8m (up 85% from FY 2022). Profit margin: 4.6% (up from 3.0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 110% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥49.98, the stock trades at a trailing P/E ratio of 47.6x. Average trailing P/E is 18x in the Real Estate industry in China. Total returns to shareholders of 453% over the past three years. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥39.11, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 17x in the Real Estate industry in China. Total returns to shareholders of 343% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥43.09, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 20x in the Real Estate industry in China. Total returns to shareholders of 412% over the past three years. Announcement • Dec 29
ChengDu Hi-Tech Development Co., Ltd. to Report Fiscal Year 2023 Results on Mar 30, 2024 ChengDu Hi-Tech Development Co., Ltd. announced that they will report fiscal year 2023 results on Mar 30, 2024 Board Change • Nov 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. GM & Director Zhaofeng He 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. New Risk • Nov 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (60% accrual ratio). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.46 (vs CN¥0.043 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.46 (up from CN¥0.043 in 3Q 2022). Revenue: CN¥1.67b (down 4.2% from 3Q 2022). Net income: CN¥160.6m (up CN¥145.6m from 3Q 2022). Profit margin: 9.6% (up from 0.9% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improves as stock rises 61% After last week's 61% share price gain to CN¥28.93, the stock trades at a trailing P/E ratio of 45.4x. Average trailing P/E is 20x in the Real Estate industry in China. Total returns to shareholders of 259% over the past three years. New Risk • Oct 20
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 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (53% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.16 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.16 in 2Q 2022). Revenue: CN¥1.92b (up 29% from 2Q 2022). Net income: CN¥61.9m (up 9.3% from 2Q 2022). Profit margin: 3.2% (down from 3.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • May 31
ChengDu Hi-Tech Development Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2022, Payable on 06 June 2023 ChengDu Hi-Tech Development Co., Ltd. announced final cash dividend of CNY 0.25000000 per 10 shares (tax included) on A shares for the year 2022. Record date is 05 June 2023, Ex-date is 06 June 2023 and Payment date is 06 June 2023. Announcement • May 20
ChengDu Hi-Tech Development Co., Ltd. Approves Cash Dividend for 2022 ChengDu Hi-Tech Development Co., Ltd. announced that at its AGM held on 18 May 2023, the shareholders approved 2022 profit distribution plan as cash dividend/10 shares (tax included): CNY 0.25000000. Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: CN¥0.56 (vs CN¥0.46 in FY 2021) Full year 2022 results: EPS: CN¥0.56 (up from CN¥0.46 in FY 2021). Revenue: CN¥6.57b (flat on FY 2021). Net income: CN¥199.1m (up 22% from FY 2021). Profit margin: 3.0% (up from 2.5% in FY 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: CN¥0.56 (vs CN¥0.46 in FY 2021) Full year 2022 results: EPS: CN¥0.56 (up from CN¥0.46 in FY 2021). Revenue: CN¥6.57b (flat on FY 2021). Net income: CN¥199.2m (up 22% from FY 2021). Profit margin: 3.0% (up from 2.5% in FY 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 13
Chengdu Hi-Tech Development Co., Ltd. Announces Board Appointments ChengDu Hi-Tech Development Co., Ltd. held its 2nd Extraordinary General Meeting of 2022 on 09 December 2022 approved the appointments of He Zhaofeng and Hu Qiang as directors. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: CN¥0.043 (vs CN¥0.072 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.043 (down from CN¥0.072 in 3Q 2021). Revenue: CN¥1.75b (up 10% from 3Q 2021). Net income: CN¥14.9m (down 41% from 3Q 2021). Profit margin: 0.9% (down from 1.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥13.83, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 21x in the Real Estate industry in China. Total returns to shareholders of 44% over the past three years. Announcement • Aug 16
ChengDu Hi-Tech Development Co., Ltd. announced that it expects to receive CNY 730 million in funding ChengDu Hi-Tech Development Co., Ltd announced a private placement of convertible bonds to raise up to CNY 730 million on August 15, 2022. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.22 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.16 (down from CN¥0.22 in 2Q 2021). Revenue: CN¥1.49b (down 17% from 2Q 2021). Net income: CN¥56.6m (down 26% from 2Q 2021). Profit margin: 3.8% (down from 4.2% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 25% per year. Announcement • Jul 14
ChengDu Hi-Tech Development Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2021, Payable on 21 July 2022 ChengDu Hi-Tech Development Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 0.30000000 for the year 2021, payable on 21 July 2022. Record date: 20 July 2022. Ex-date: 21 July 2022. Net cash dividend per ten shares after tax: CNY 0.27000000 (CNY 0.30000000 – CNY 0.03000000). Announcement • Jun 10
ChengDu Hi-Tech Development Co., Ltd., Annual General Meeting, Jun 30, 2022 ChengDu Hi-Tech Development Co., Ltd., Annual General Meeting, Jun 30, 2022, at 13:30 China Standard Time. Agenda: To consider and approve the 2021 work report of the board of directors; to consider and approve the 2021 work report of the supervisory committee; to consider and approve the 2021 annual report and its summary; to consider and approve the reappointment of 2022 financial audit firm and internal control audit firm; to consider and approve the 2022 business plan; and to consider other matters. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥15.55, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 20x in the Real Estate industry in China. Total returns to shareholders of 56% over the past three years. Announcement • Jun 01
ChengDu Hi-Tech Development Co., Ltd. (SZSE:000628), entered into letter of intent to acquire controlling stake in Chengdu Tech Firm/Chengdu Semiconductor Firm. ChengDu Hi-Tech Development Co., Ltd. (SZSE:000628), entered into letter of intent to acquire controlling stake in Chengdu Tech Firm/Chengdu Semiconductor Firm, on May 31, 2022. Reported Earnings • Apr 28
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.46 (down from CN¥0.77 in FY 2020). Revenue: CN¥6.61b (up 20% from FY 2020). Net income: CN¥163.3m (down 32% from FY 2020). Profit margin: 2.5% (down from 4.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 22
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.46 (down from CN¥0.77 in FY 2020). Revenue: CN¥6.61b (up 20% from FY 2020). Net income: CN¥163.5m (down 32% from FY 2020). Profit margin: 2.5% (down from 4.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 16%. 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 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥11.55, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 12x in the Real Estate industry in China. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥10.43, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 12x in the Real Estate industry in China. Total returns to shareholders of 3.1% over the past three years. Reported Earnings • Oct 25
Third quarter 2021 earnings released: EPS CN¥0.072 (vs CN¥0.083 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.58b (up 23% from 3Q 2020). Net income: CN¥25.5m (down 1.3% from 3Q 2020). Profit margin: 1.6% (down from 2.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Chengdu Jiaozi Financial Holding Group Co.,Ltd signed an equity transfer intention agreement to acquire Brilliant Futures Co., Ltd. from ChengDu Hi-Tech Development Co., Ltd. (SZSE:000628), CDHTI Assets Management Co., Ltd. and Chengdu Beite Investment Co., Ltd. Chengdu Jiaozi Financial Holding Group Co.,Ltd signed an equity transfer intention agreement to acquire Brilliant Futures Co., Ltd. from ChengDu Hi-Tech Development Co., Ltd. (SZSE:000628), CDHTI Assets Management Co., Ltd. and Chengdu Beite Investment Co., Ltd. on August 13, 2021. For the year ended December 31, 2020, Brilliant Futures Co., Ltd. had total assets of CNY 2.2 billion, operating income of CNY 688.1 million, net income of CNY 11.7 million and net assets of CNY 458.9 million. Reported Earnings • Aug 10
Second quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.21 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥1.79b (up 35% from 2Q 2020). Net income: CN¥76.2m (up 15% from 2Q 2020). Profit margin: 4.2% (down from 5.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
Full year 2020 earnings released: EPS CN¥0.77 (vs CN¥0.34 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥5.53b (up 67% from FY 2019). Net income: CN¥240.8m (up 130% from FY 2019). Profit margin: 4.4% (up from 3.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 30
New 90-day high: CN¥9.80 The company is up 6.0% from its price of CN¥9.22 on 01 September 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 18% share price gain to CN¥9.80, the stock is trading at a trailing P/E ratio of 19.3x, up from the previous P/E ratio of 16.3x. This compares to an average P/E of 16x in the Real Estate industry in China. Total returns to shareholders over the past three years are 11%. Is New 90 Day High Low • Oct 30
New 90-day low: CN¥8.01 The company is down 16% from its price of CN¥9.51 on 31 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 8.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥158.1m, up 85% from the prior year. Total revenue was CN¥4.88b over the last 12 months, up 134% from the prior year. Is New 90 Day High Low • Sep 24
New 90-day low: CN¥8.23 The company is down 4.0% from its price of CN¥8.59 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 10.0% over the same period. Announcement • Jul 18
ChengDu Hi-Tech Development Co., Ltd. to Report First Half, 2020 Results on Jul 31, 2020 ChengDu Hi-Tech Development Co., Ltd. announced that they will report first half, 2020 results on Jul 31, 2020