Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥7.24, the stock trades at a trailing P/E ratio of 76.2x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 65% over the past three years. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: CN¥0.01 (vs CN¥0.017 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.01 (down from CN¥0.017 in 1Q 2025). Revenue: CN¥1.20b (up 8.3% from 1Q 2025). Net income: CN¥10.6m (down 42% from 1Q 2025). Profit margin: 0.9% (down from 1.6% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
GuangDong ShaoNeng Group Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 GuangDong ShaoNeng Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Mar 23
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 Interest payments are not well covered by earnings (1.9x net interest cover). Earnings have declined by 40% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (411% payout ratio). Share price has been volatile over the past 3 months (7.9% average weekly change). Announcement • Dec 31
GuangDong ShaoNeng Group Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 GuangDong ShaoNeng Group Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.073 (vs CN¥0.028 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.073 (up from CN¥0.028 in 3Q 2024). Revenue: CN¥1.31b (up 11% from 3Q 2024). Net income: CN¥76.6m (up 154% from 3Q 2024). Profit margin: 5.9% (up from 2.6% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
GuangDong ShaoNeng Group Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 GuangDong ShaoNeng Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: CN¥0.074 (vs CN¥0.13 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.074 (down from CN¥0.13 in 2Q 2024). Revenue: CN¥1.23b (flat on 2Q 2024). Net income: CN¥77.7m (down 45% from 2Q 2024). Profit margin: 6.3% (down from 12% in 2Q 2024). 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. Announcement • Jul 02
GuangDong ShaoNeng Group Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 GuangDong ShaoNeng Group Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Announcement • Jun 02
GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 23, 2025 GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 23, 2025, at 14:50 China Standard Time. Location: The Company's Meeting Room, Shaoguan, Guangdong China New Risk • May 18
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 308% Cash payout ratio: 180% Dividend yield: 3.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 308% Cash payout ratio: 180% Earnings have declined by 60% per year over the past 5 years. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.017 (vs CN¥0.022 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.017 (down from CN¥0.022 in 1Q 2024). Revenue: CN¥1.11b (up 16% from 1Q 2024). Net income: CN¥18.2m (down 25% from 1Q 2024). Profit margin: 1.6% (down from 2.5% in 1Q 2024). The decrease in margin was driven by higher expenses. 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 10% per year, which means it is well ahead of earnings. New Risk • Mar 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.2% 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 Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 77% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Mar 31
GuangDong ShaoNeng Group Co., Ltd. to Report Q1, 2025 Results on Apr 28, 2025 GuangDong ShaoNeng Group Co., Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 Announcement • Mar 07
GuangDong ShaoNeng Group Co., Ltd. Announces Third Quarter Profit Distribution Plan to Be Implemented (A Shares) for 2024, Payable on 13 March 2024 GuangDong ShaoNeng Group Co., Ltd. announced Cash dividend/10 shares (tax included): CNY 2.00000000 for 3rd quarter profit distribution plan to be implemented (A shares) for 2024. Record date: 12 March 2025. Ex-date: 13 March 2025. Payment date: 13 March 2025. Announcement • Feb 28
GuangDong ShaoNeng Group Co., Ltd. Approves Interim Cash Dividend for 2024 GuangDong ShaoNeng Group Co., Ltd., at its extraordinary general meeting held on 26 February 2025, approved interim cash dividend/10 shares (tax included) of CNY 2.00000000 for 2024. Announcement • Dec 31
GuangDong ShaoNeng Group Co., Ltd. to Report Fiscal Year 2024 Results on Apr 28, 2025 GuangDong ShaoNeng Group Co., Ltd. announced that they will report fiscal year 2024 results on Apr 28, 2025 Announcement • Sep 30
GuangDong ShaoNeng Group Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 GuangDong ShaoNeng Group Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.069 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.069 in 2Q 2023). Revenue: CN¥1.23b (down 3.0% from 2Q 2023). Net income: CN¥142.5m (up 92% from 2Q 2023). Profit margin: 12% (up from 5.9% in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Jun 29
GuangDong ShaoNeng Group Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 GuangDong ShaoNeng Group Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Jun 08
GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 27, 2024 GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 27, 2024, at 14:50 China Standard Time. Location: The Company's Meeting Room, Shaoguan, Guangdong China Reported Earnings • Apr 28
Full year 2023 earnings released: CN¥0.25 loss per share (vs CN¥0.069 loss in FY 2022) Full year 2023 results: CN¥0.25 loss per share (further deteriorated from CN¥0.069 loss in FY 2022). Revenue: CN¥4.11b (up 6.7% from FY 2022). Net loss: CN¥266.0m (loss widened 258% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Announcement • Apr 10
Guangdong Shaoneng Group Co., Ltd. Announces Management Appointments GuangDong ShaoNeng Group Co., Ltd. announced at the EGM held on April 8, 2024, approved Han Weining, Lan Jiang, Wu Yang and Xu Wei as non-independent director; Zhou Qingqing and Zhang Lin as supervisor; Zhu Huaijun, Lu Jiayi and Mo Ling as independent director. Announcement • Mar 30
GuangDong ShaoNeng Group Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 GuangDong ShaoNeng Group Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Dec 29
GuangDong ShaoNeng Group Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 GuangDong ShaoNeng Group Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Oct 21
Third quarter 2023 earnings released: EPS: CN¥0.022 (vs CN¥0.008 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.022 (up from CN¥0.008 loss in 3Q 2022). Revenue: CN¥1.21b (up 15% from 3Q 2022). Net income: CN¥23.4m (up CN¥31.9m from 3Q 2022). Profit margin: 1.9% (up from net loss in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 07
Second quarter 2023 earnings released: EPS: CN¥0.069 (vs CN¥0.095 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.069 (down from CN¥0.095 in 2Q 2022). Revenue: CN¥1.27b (up 18% from 2Q 2022). Net income: CN¥74.2m (down 28% from 2Q 2022). Profit margin: 5.9% (down from 9.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Announcement • Jul 01
GuangDong ShaoNeng Group Co., Ltd. to Report First Half, 2023 Results on Aug 05, 2023 GuangDong ShaoNeng Group Co., Ltd. announced that they will report first half, 2023 results on Aug 05, 2023 Announcement • Jun 10
GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 29, 2023 GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 29, 2023, at 14:50 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; and to consider other matters. Announcement • Nov 12
Shenzhen Zhimao Commercial Management Co., Ltd acquired 13.11% stake from Shenzhen Hualitong Investment Co., Ltd. for CNY 1 billion. Shenzhen Zhimao Commercial Management Co., Ltd acquired 13.11% stake from Shenzhen Hualitong Investment Co., Ltd. for CNY 1 billion on November 7, 2022. The court released the freeze shares held by Shenzhen Hualitong and were forcibly transferred to Shenzhen Zhimao Commercial Management Co., Ltd.
Shenzhen Zhimao Commercial Management Co., Ltd completed the acquisition of 13.11% stake from Shenzhen Hualitong Investment Co., Ltd. on November 7, 2022. Reported Earnings • Oct 27
Third quarter 2022 earnings released: CN¥0.008 loss per share (vs CN¥0.009 profit in 3Q 2021) Third quarter 2022 results: CN¥0.008 loss per share (down from CN¥0.009 profit in 3Q 2021). Revenue: CN¥1.05b (up 11% from 3Q 2021). Net loss: CN¥8.52m (down 191% from profit in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.094 (vs CN¥0.089 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.094 (up from CN¥0.089 in 2Q 2021). Revenue: CN¥1.07b (up 6.9% from 2Q 2021). Net income: CN¥103.2m (up 5.6% from 2Q 2021). Profit margin: 9.6% (in line with 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Announcement • Aug 21
Guangdong Shaoneng Group Co., Ltd. Declares Final Distribution for the Year 2021, Payable on August 29, 2022 GuangDong ShaoNeng Group Co., Ltd. declared 2021 final profit distribution of CNY 0.50000000 per 10 shares (tax included). Record date is 26 August 2022, ex-date is 29 August 2022, payment date is 29 August 2022. Announcement • Jul 02
Guangdong ShaoNeng Group Co., Ltd. Approves Profit Distribution of 2021 GuangDong ShaoNeng Group Co., Ltd. approved Cash dividend (tax included) of CNY 0.50000000 per 10 shares for the year 2021, held its Annual General Meeting of 2021 on 29 June 2022. Announcement • Jun 10
GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 29, 2022 GuangDong ShaoNeng Group Co., Ltd., Annual General Meeting, Jun 29, 2022, at 14:50 China Standard Time. Agenda: To consider 2021 annual report and its summary; to consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual accounts report; to consider 2021 profit distribution plan; and to consider reappointment of audit firm. Announcement • May 08
GuangDong ShaoNeng Group Co., Ltd. Proposes Final Cash Dividend for the Year of 2021 GuangDong ShaoNeng Group Co., Ltd. proposed final cash dividend of CNY 0.50000000 per 10 shares (tax included), for the year of 2021. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.03 (down from CN¥0.032 in 1Q 2021). Revenue: CN¥887.6m (down 27% from 1Q 2021). Net income: CN¥31.9m (down 6.4% from 1Q 2021). Profit margin: 3.6% (up from 2.8% in 1Q 2021). Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Apr 07
GuangDong ShaoNeng Group Co., Ltd. announced a financing transaction GuangDong ShaoNeng Group Co., Ltd. announced private placement transaction on April 5, 2022. The transaction will included participation from no more than 35 specific investors. The company will issue common shares in the transaction. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.009 (vs CN¥0.086 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥948.5m (down 28% from 3Q 2020). Net income: CN¥9.36m (down 90% from 3Q 2020). Profit margin: 1.0% (down from 7.0% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥4.95, the stock trades at a trailing P/E ratio of 58.4x. Average trailing P/E is 23x in the Renewable Energy industry in China. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥6.05, the stock trades at a trailing P/E ratio of 71.4x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 52% over the past three years. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.089 (vs CN¥0.16 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.00b (down 25% from 2Q 2020). Net income: CN¥97.8m (down 44% from 2Q 2020). Profit margin: 9.7% (down from 13% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.032 (vs CN¥0.074 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥1.21b (up 25% from 1Q 2020). Net income: CN¥34.1m (down 57% from 1Q 2020). Profit margin: 2.8% (down from 8.2% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥5.93 The company is down 10.0% from its price of CN¥6.58 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥6.30 The company is down 6.0% from its price of CN¥6.72 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 Renewable Energy industry, which is up 5.0% over the same period. Announcement • Dec 12
Guangdong Shaoneng Group Co., Ltd. Approves Election of Executives Guangdong Shaoneng Group Co., Ltd. approved the election of Yang Xiangyu as independent director and the election of non-employee supervisors Qiao Zongli and Meng Lili at the Extraordinary General Meeting of 2020 held on 09 December 2020. Is New 90 Day High Low • Nov 23
New 90-day high: CN¥7.42 The company is up 1.0% from its price of CN¥7.32 on 25 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Renewable Energy industry, which is also up 1.0% 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¥269.8m, down 47% from the prior year. Total revenue was CN¥4.66b over the last 12 months, up 11% from the prior year. Announcement • Aug 13
Guangdong Shaoneng Group Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Guangdong Shaoneng Group Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020 Announcement • Jul 21
Guangdong Shaoneng Group Co., Ltd. announced that it expects to receive CNY 1.4911613 billion in funding from Shenzhen Investment Limited Guangdong Shaoneng Group Co., Ltd. (SZSE:000601) announced that it has entered into an agreement to issue not more than 324,165,500 shares at a price of CNY 4.6 per share for gross proceeds of not exceeding CNY 1,491,161,300 on July 14, 2020. The transaction will include participation from specific returning investor Shenzhen Investment Limited (SEHK:604). The transaction has been been reviewed and approved at the 21st interim meeting of the 9th board of directors of the company and in the 12th meeting of the 9th board of supervisors. The transaction is subject to approval from the company's shareholders and from China Securities Regulatory Commission. The resolution shall be valid for twelve months from the date of approval by the company's shareholders' meeting. The securities to be issued in the transaction shall have lock in period of 36 months. 
