Reported Earnings • Mar 31
Full year 2025 earnings released: EPS: CN¥0.25 (vs CN¥0.18 in FY 2024) Full year 2025 results: EPS: CN¥0.25 (up from CN¥0.18 in FY 2024). Revenue: CN¥67.7b (up 7.2% from FY 2024). Net income: CN¥545.5m (up 35% from FY 2024). Profit margin: 0.8% (up from 0.6% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Mar 31
CMST Development Co.,Ltd., Annual General Meeting, Apr 29, 2026 CMST Development Co.,Ltd., Annual General Meeting, Apr 29, 2026, at 09:30 China Standard Time. Location: Tower A, Building 2, Yard No. 5, Fenghuangzui Street, Fengtai District, Beijing China Announcement • Mar 30
CMST Development Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 CMST Development Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 26
CMST Development Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 17, 2026 CMST Development Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 17, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.014 (vs CN¥0.003 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.014 (up from CN¥0.003 in 3Q 2024). Revenue: CN¥18.3b (up 8.8% from 3Q 2024). Net income: CN¥29.4m (up 311% from 3Q 2024). Profit margin: 0.2% (up from 0% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Sep 30
CMST Development Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 CMST Development Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Sep 04
Second quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.048 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.048 in 2Q 2024). Revenue: CN¥16.2b (down 1.8% from 2Q 2024). Net income: CN¥350.7m (up 238% from 2Q 2024). Profit margin: 2.2% (up from 0.6% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jun 30
CMST Development Co.,Ltd. to Report First Half, 2025 Results on Aug 30, 2025 CMST Development Co.,Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Declared Dividend • May 29
Dividend reduced to CN¥0.07 Dividend of CN¥0.07 is 45% lower than last year. Ex-date: 5th June 2025 Payment date: 5th June 2025 Dividend yield will be 1.2%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 12% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.7% EPS decline seen over the last 5 years. New Risk • Apr 22
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: 0.6% Last year net profit margin: 1.2% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Announcement • Apr 20
CMST Development Co.,Ltd., Annual General Meeting, May 09, 2025 CMST Development Co.,Ltd., Annual General Meeting, May 09, 2025, at 09:30 China Standard Time. Location: Tower A, Building 2, Yard No. 5, Fenghuangzui Street, Fengtai District, Beijing China Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥6.69, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 20x in the Logistics industry in China. Total returns to shareholders of 24% over the past three years. Announcement • Mar 28
CMST Development Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025 CMST Development Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 New Risk • Feb 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Dividend is not well covered by cash flows (114% cash payout ratio). Large one-off items impacting financial results. Announcement • Dec 27
CMST Development Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 19, 2025 CMST Development Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 19, 2025 New Risk • Dec 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 11% 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 Dividend is not well covered by cash flows (114% cash payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥8.82, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 19x in the Logistics industry in China. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥6.25, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 18x in the Logistics industry in China. Total loss to shareholders of 2.2% over the past three years. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.003 (vs CN¥0.07 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.003 (down from CN¥0.07 in 3Q 2023). Revenue: CN¥16.8b (up 1.8% from 3Q 2023). Net income: CN¥7.15m (down 95% from 3Q 2023). Profit margin: 0% (down from 0.9% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Announcement • Sep 30
CMST Development Co.,Ltd. to Report Q3, 2024 Results on Oct 26, 2024 CMST Development Co.,Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥5.32, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 19x in the Logistics industry in China. Negligible returns to shareholders over past three years. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.048 (vs CN¥0.046 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.048 (up from CN¥0.046 in 2Q 2023). Revenue: CN¥16.5b (down 11% from 2Q 2023). Net income: CN¥103.7m (up 1.9% from 2Q 2023). Profit margin: 0.6% (up from 0.5% in 2Q 2023). 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 14% per year, which means it is performing significantly worse than earnings. Announcement • Jun 28
CMST Development Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 CMST Development Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • Jun 01
Dividend of CN¥0.13 announced Shareholders will receive a dividend of CN¥0.13. Ex-date: 6th June 2024 Payment date: 6th June 2024 Dividend yield will be 2.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: CN¥0.36 (vs CN¥0.29 in FY 2022) Full year 2023 results: EPS: CN¥0.36 (up from CN¥0.29 in FY 2022). Revenue: CN¥67.3b (down 12% from FY 2022). Net income: CN¥786.6m (up 23% from FY 2022). Profit margin: 1.2% (up from 0.8% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Apr 20
CMST Development Co.,Ltd., Annual General Meeting, May 09, 2024 CMST Development Co.,Ltd., Annual General Meeting, May 09, 2024, at 09:30 China Standard Time. Location: Tower A, Building 2, Yard No. 5, Fenghuangzui Street, Fengtai District, Beijing China Announcement • Mar 29
CMST Development Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024 CMST Development Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥5.19, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 22x in the Logistics industry in China. Total returns to shareholders of 22% over the past three years. Buy Or Sell Opportunity • Jan 25
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at CN¥5.08. The fair value is estimated to be CN¥4.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years, while earnings per share has been flat. Announcement • Dec 29
CMST Development Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 19, 2024 CMST Development Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 19, 2024 Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.009 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.07 (up from CN¥0.009 in 3Q 2022). Revenue: CN¥16.5b (down 16% from 3Q 2022). Net income: CN¥151.3m (up CN¥131.0m from 3Q 2022). Profit margin: 0.9% (up from 0.1% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: CN¥0.046 (vs CN¥0.054 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.046 (down from CN¥0.054 in 2Q 2022). Revenue: CN¥18.7b (down 19% from 2Q 2022). Net income: CN¥101.8m (down 13% from 2Q 2022). Profit margin: 0.5% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 16
Full year 2022 earnings released: EPS: CN¥0.30 (vs CN¥0.41 in FY 2021) Full year 2022 results: EPS: CN¥0.30 (down from CN¥0.41 in FY 2021). Revenue: CN¥76.8b (up 2.0% from FY 2021). Net income: CN¥640.5m (down 27% from FY 2021). Profit margin: 0.8% (down from 1.2% in FY 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥6.05, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 21x in the Logistics industry in China. Total returns to shareholders of 36% over the past three years. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Guanjiang Gao was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.009 (vs CN¥0.23 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.009 (down from CN¥0.23 in 3Q 2021). Revenue: CN¥19.8b (down 2.7% from 3Q 2021). Net income: CN¥20.3m (down 96% from 3Q 2021). Profit margin: 0.1% (down from 2.5% in 3Q 2021). 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 3% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.054 (vs CN¥0.044 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.054 (up from CN¥0.044 in 2Q 2021). Revenue: CN¥22.9b (up 15% from 2Q 2021). Net income: CN¥116.4m (up 21% from 2Q 2021). Profit margin: 0.5% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.15 (up from CN¥0.024 in 1Q 2021). Revenue: CN¥15.8b (up 20% from 1Q 2021). Net income: CN¥325.9m (up CN¥274.1m from 1Q 2021). Profit margin: 2.1% (up from 0.4% in 1Q 2021). Revenue exceeded analyst estimates by 32%. Earnings per share (EPS) missed analyst estimates by 52%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. 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. 9 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Wen Hu Liu was the last independent director to join the board, commencing their role in 2003. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥6.52, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 24x in the Logistics industry in China. Total loss to shareholders of 6.7% over the past three years. Reported Earnings • Apr 01
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.41 (up from CN¥0.26 in FY 2020). Revenue: CN¥75.2b (up 54% from FY 2020). Net income: CN¥881.0m (up 55% from FY 2020). Profit margin: 1.2% (in line with FY 2020). Revenue exceeded analyst estimates by 32%. Earnings per share (EPS) missed analyst estimates by 52%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.069 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥20.3b (up 49% from 3Q 2020). Net income: CN¥499.4m (up 234% from 3Q 2020). Profit margin: 2.5% (up from 1.1% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥6.01, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 24x in the Logistics industry in China. Total loss to shareholders of 12% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.044 (vs CN¥0.039 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¥20.0b (up 63% from 2Q 2020). Net income: CN¥96.3m (up 13% from 2Q 2020). Profit margin: 0.5% (down from 0.7% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥6.39, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 22x in the Logistics industry in China. Total loss to shareholders of 3.1% over the past three years. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.024 (vs CN¥0.017 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥13.2b (up 78% from 1Q 2020). Net income: CN¥51.8m (up 41% from 1Q 2020). Profit margin: 0.4% (down from 0.5% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥5.86, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 26x in the Logistics industry in China. Total loss to shareholders of 38% over the past three years. Reported Earnings • Apr 10
Full year 2020 earnings released: EPS CN¥0.26 (vs CN¥0.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥48.8b (up 21% from FY 2019). Net income: CN¥566.8m (up 103% from FY 2019). Profit margin: 1.2% (up from 0.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Jan 22
CMST Development Co.,Ltd. to Report Fiscal Year 2020 Results on Mar 20, 2021 CMST Development Co.,Ltd. announced that they will report fiscal year 2020 results on Mar 20, 2021 Is New 90 Day High Low • Jan 05
New 90-day high: CN¥4.96 The company is up 8.0% from its price of CN¥4.61 on 30 September 2020. The Chinese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Logistics industry, which is up 3.0% over the same period. Announcement • Nov 26
Henan Lechu Logistics Service Co., Ltd. acquired 90% stake in Pingdingshan Chengchu Logistics Co., Ltd. from CMST Development Co.,Ltd. (SHSE:600787) for approximately CNY 200 million. Henan Lechu Logistics Service Co., Ltd. acquired 90% stake in Pingdingshan Chengchu Logistics Co., Ltd. from CMST Development Co.,Ltd. (SHSE:600787) for approximately CNY 200 million on November 23, 2020. The transaction has been deliberated and approved at the thirty seventh meeting of the eighth directorate.
Henan Lechu Logistics Service Co., Ltd. completed the acquisition of 90% stake in Pingdingshan Chengchu Logistics Co., Ltd. from CMST Development Co.,Ltd. (SHSE:600787) on November 23, 2020. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥287.4m, down 57% from the prior year. Total revenue was CN¥40.4b over the last 12 months, up 1.3% from the prior year. Announcement • Oct 29
CMST Development Co.,Ltd. to Report Q3, 2020 Results on Oct 31, 2020 CMST Development Co.,Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Oct 26
New 90-day low: CN¥4.60 The company is down 7.0% from its price of CN¥4.94 on 28 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 13% over the same period. Is New 90 Day High Low • Oct 01
New 90-day low: CN¥4.61 The company is down 1.0% from its price of CN¥4.66 on 03 July 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 21% over the same period. Announcement • Jul 17
CMST Development Co.,Ltd. to Report First Half, 2020 Results on Aug 29, 2020 CMST Development Co.,Ltd. announced that they will report first half, 2020 results on Aug 29, 2020