Declared Dividend • May 20
Dividend of CN¥0.097 announced Shareholders will receive a dividend of CN¥0.097. Ex-date: 21st May 2026 Payment date: 21st May 2026 Dividend yield will be 1.0%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 17
CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Apr 10, 2026 CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Apr 10, 2026, at 14:30 China Standard Time. Announcement • Sep 20
CITIC Offshore Helicopter Co., Ltd. Approves Interim Cash Dividend for the Year 2025 CITIC Offshore Helicopter Co., Ltd. announced at second extraordinary general meeting of 2025 held on 18 September 2025, the shareholders approved interim cash dividend of CNY 0.6300000 per ten shares (tax included) for the year 2025. Announcement • Aug 27
Citic Offshore Helicopter Co., Ltd. Proposes Interim Cash Dividend for the Year 2025 CITIC Offshore Helicopter Co., Ltd. at its EGM to be held on September 18, proposed interim cash dividend of CNY 0.63 per 10 shares (tax included) for the year 2025. Announcement • Apr 12
CITIC Offshore Helicopter Co., Ltd. Approves Cash Dividend for 2024 CITIC Offshore Helicopter Co., Ltd. at its Annual General Meeting held on 10 April 2025, approved cash dividend of CNY 1.25000000 per 10 shares (tax included) for 2024. Announcement • Mar 19
CITIC Offshore Helicopter Co., Ltd. Announces Profit Distribution Proposal for 2024 CITIC Offshore Helicopter Co., Ltd. announced profit distribution proposal for 2024 Cash dividend/10 shares (tax included) is CNY 1.25000000. Announcement • Mar 18
CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Apr 10, 2025 CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Apr 10, 2025, at 14:30 China Standard Time. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.081 (vs CN¥0.083 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.081 (down from CN¥0.083 in 3Q 2023). Revenue: CN¥535.1m (up 6.7% from 3Q 2023). Net income: CN¥62.5m (down 3.4% from 3Q 2023). Profit margin: 12% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Logistics 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 increased by 45% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥21.22, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 12x in the Logistics industry in China. Total returns to shareholders of 185% over the past three years. New Risk • Sep 30
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 8.6% 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. This is currently the only risk that has been identified for the company. 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¥16.57, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 12x in the Logistics industry in China. Total returns to shareholders of 130% over the past three years. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.063 (vs CN¥0.079 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.063 (down from CN¥0.079 in 2Q 2023). Revenue: CN¥504.6m (flat on 2Q 2023). Net income: CN¥48.9m (down 20% from 2Q 2023). Profit margin: 9.7% (down from 12% in 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to CN¥14.77. The fair value is estimated to be CN¥18.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 15% in the next year. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥18.03, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 10x in the Logistics industry in China. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥18.19, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 14x in the Logistics industry in China. Total returns to shareholders of 182% over the past three years. Announcement • May 16
CITIC Offshore Helicopter Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2023, Payable on 21 May 2024 CITIC Offshore Helicopter Co., Ltd. announced final cash dividend of CNY 0.817 per 10 shares (tax included) on A shares for the year 2023. Record date is 20 May 2024, Ex-date is 21 May 2024 and Payment date is 21 May 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.11 (vs CN¥0.089 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.11 (up from CN¥0.089 in 1Q 2023). Revenue: CN¥457.4m (up 13% from 1Q 2023). Net income: CN¥83.5m (up 22% from 1Q 2023). Profit margin: 18% (up from 17% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Logistics 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 increased by 50% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥18.40, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 14x in the Logistics industry in China. Total returns to shareholders of 170% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 45% After last week's 45% share price gain to CN¥17.29, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 13x in the Logistics industry in China. Total returns to shareholders of 156% over the past three years. New Risk • Mar 27
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 9.8% 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: 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 (9.8% average weekly change). Announcement • Mar 21
CITIC Offshore Helicopter Co., Ltd. Proposes Final Cash Dividend for 2023 CITIC Offshore Helicopter Co., Ltd. proposed final cash dividend of CNY 0.81700000 per 10 shares (tax included) for 2023. Announcement • Mar 20
CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Apr 15, 2024 CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Apr 15, 2024, at 14:30 China Standard Time. Agenda: To consider the 2023 annual report and its summary; to consider the 2023 work report of the board of directors; to consider the 2023 work report of the supervisory committee; to consider the 2023 annual accounts; to consider the 2023 profit distribution plan; to consider the 2024 application for comprehensive credit line to relevant banks; to consider the Estimated financial business with a company; to consider the Special report on the deposit and use of raised funds in 2023; to consider the Amendments to the system for independent directors; and to discuss other matters. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: CN¥0.31 (vs CN¥0.25 in FY 2022) Full year 2023 results: EPS: CN¥0.31 (up from CN¥0.25 in FY 2022). Revenue: CN¥1.97b (up 9.5% from FY 2022). Net income: CN¥239.1m (up 23% from FY 2022). Profit margin: 12% (up from 11% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Logistics 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 increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥12.96, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 11x in the Logistics industry in China. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥9.40, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 11x in the Logistics industry in China. Total returns to shareholders of 55% over the past three years. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.083 (vs CN¥0.054 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.083 (up from CN¥0.054 in 3Q 2022). Revenue: CN¥501.7m (up 4.0% from 3Q 2022). Net income: CN¥64.7m (up 53% from 3Q 2022). Profit margin: 13% (up from 8.7% in 3Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: CN¥0.079 (vs CN¥0.069 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.079 (up from CN¥0.069 in 2Q 2022). Revenue: CN¥501.8m (up 8.8% from 2Q 2022). Net income: CN¥61.0m (up 14% from 2Q 2022). Profit margin: 12% (in line with 2Q 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Jul 13
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: 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 (6.8% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). Announcement • Jul 06
CITIC Offshore Helicopter Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2022, Payable on July 11, 2023 CITIC Offshore Helicopter Co., Ltd. announced final cash dividend of CNY 0.65 per 10 shares on A shares for the year 2022. Record date is July 10, 2023, Ex-Date is July 11, 2023 and Payment Date is July 11, 2023. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥10.68, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 12x in the Logistics industry in China. Total returns to shareholders of 62% over the past three years. Announcement • May 30
CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Jun 19, 2023 CITIC Offshore Helicopter Co., Ltd., Annual General Meeting, Jun 19, 2023, at 14:30 China Standard Time. Agenda: To consider 2022 annual report and its summary; to consider 2022 work report of the board of directors; to consider 2022 work report of the supervisory committee; to consider 2022 annual accounts; to consider 2022 profit distribution plan; to consider Election of non-independent directors, cumulative voting system applicable; to consider Application for 2023 comprehensive credit line to relevant banks; and to consider other matters. Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: CN¥0.25 (vs CN¥0.37 in FY 2021) Full year 2022 results: EPS: CN¥0.25 (down from CN¥0.37 in FY 2021). Revenue: CN¥1.80b (up 7.0% from FY 2021). Net income: CN¥194.2m (down 21% from FY 2021). Profit margin: 11% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.054 (vs CN¥0.13 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.054 (down from CN¥0.13 in 3Q 2021). Revenue: CN¥482.3m (up 15% from 3Q 2021). Net income: CN¥42.2m (down 52% from 3Q 2021). Profit margin: 8.7% (down from 21% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: CN¥0.069 (vs CN¥0.14 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.069 (down from CN¥0.14 in 2Q 2021). Revenue: CN¥461.3m (up 8.9% from 2Q 2021). Net income: CN¥53.5m (down 38% from 2Q 2021). Profit margin: 12% (down from 21% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 12%, compared to a 23% growth forecast for the Logistics industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: CN¥0.092 (vs CN¥0.055 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.092 (up from CN¥0.055 in 1Q 2021). Revenue: CN¥360.9m (up 8.6% from 1Q 2021). Net income: CN¥71.1m (up 112% from 1Q 2021). Profit margin: 20% (up from 10% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: CN¥0.37 (vs CN¥0.36 in FY 2020) Full year 2021 results: EPS: CN¥0.37 (up from CN¥0.36 in FY 2020). Revenue: CN¥1.68b (up 7.9% from FY 2020). Net income: CN¥246.5m (up 13% from FY 2020). Profit margin: 15% (in line with FY 2020). Over the next year, revenue is forecast to grow 10%, compared to a 35% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 25
Third quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.11 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥418.9m (up 7.3% from 3Q 2020). Net income: CN¥87.4m (up 27% from 3Q 2020). Profit margin: 21% (up from 18% 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 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.08 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥423.6m (up 14% from 2Q 2020). Net income: CN¥86.6m (up 79% from 2Q 2020). Profit margin: 21% (up from 13% 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 24% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS CN¥0.055 (vs CN¥0.038 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥332.4m (up 4.7% from 1Q 2020). Net income: CN¥33.6m (up 47% from 1Q 2020). Profit margin: 10% (up from 7.2% 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 26% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.36 (vs CN¥0.35 in FY 2019) The company reported a decent full year result with improved earnings, although revenues and profit margins were flat. Full year 2020 results: Revenue: CN¥1.56b (flat on FY 2019). Net income: CN¥218.4m (up 3.3% from FY 2019). Profit margin: 14% (in line with FY 2019). 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 9% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥6.56 The company is down 19% from its price of CN¥8.08 on 28 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥6.87 The company is down 9.0% from its price of CN¥7.58 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥7.13 The company is down 3.0% from its price of CN¥7.38 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Logistics industry, which is also down 3.0% over the same period. Reported Earnings • Oct 26
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥194.6m, down 11% from the prior year. Total revenue was CN¥1.50b over the last 12 months, down 5.0% from the prior year. 
