Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.06 (vs CN¥0.06 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.06 (in line with 1Q 2025). Revenue: CN¥5.75b (down 12% from 1Q 2025). Net income: CN¥82.8m (up 2.1% from 1Q 2025). Profit margin: 1.4% (up from 1.2% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Gas Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Declared Dividend • Apr 20
Final dividend of CN¥0.27 announced Shareholders will receive a dividend of CN¥0.27. Ex-date: 24th April 2026 Payment date: 24th April 2026 Dividend yield will be 3.8%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 19% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 07
Price target increased by 8.8% to CN¥18.27 Up from CN¥16.79, the current price target is an average from 2 analysts. New target price is 29% above last closing price of CN¥14.20. Stock is up 30% over the past year. The company is forecast to post earnings per share of CN¥0.85 for next year compared to CN¥0.72 last year. Announcement • Mar 31
Foran Energy Group Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Foran Energy Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Reported Earnings • Mar 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.72 (up from CN¥0.61 in FY 2024). Revenue: CN¥33.6b (up 6.3% from FY 2024). Net income: CN¥1.03b (up 21% from FY 2024). Profit margin: 3.1% (up from 2.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 5.3%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 13% per year. Announcement • Mar 24
Foran Energy Group Co., Ltd., Annual General Meeting, Apr 15, 2026 Foran Energy Group Co., Ltd., Annual General Meeting, Apr 15, 2026, at 15:00 China Standard Time. Location: 16F, No. 18, Nanhai Avenue Middle, Chancheng District, Foshan, Guangdong China Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥17.77, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 15x in the Gas Utilities industry in China. Total returns to shareholders of 103% over the past three years. Price Target Changed • Feb 23
Price target increased by 18% to CN¥16.79 Up from CN¥14.25, the current price target is an average from 2 analysts. New target price is 12% above last closing price of CN¥14.99. Stock is up 34% over the past year. The company is forecast to post earnings per share of CN¥0.85 for next year compared to CN¥0.69 last year. Reported Earnings • Jan 22
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.69 (up from CN¥0.61 in FY 2024). Revenue: CN¥33.8b (up 6.9% from FY 2024). Net income: CN¥1.00b (up 17% from FY 2024). Profit margin: 3.0% (up from 2.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 8.0%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. Price Target Changed • Jan 20
Price target increased by 8.0% to CN¥14.58 Up from CN¥13.50, the current price target is provided by 1 analyst. New target price is 12% above last closing price of CN¥13.04. Stock is up 13% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.61 last year. Announcement • Dec 31
Foran Energy Group Co., Ltd. to Report Fiscal Year 2025 Results on Mar 25, 2026 Foran Energy Group Co., Ltd. announced that they will report fiscal year 2025 results on Mar 25, 2026 Reported Earnings • Oct 17
Third quarter 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.12 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.13 (up from CN¥0.12 in 3Q 2024). Revenue: CN¥8.16b (flat on 3Q 2024). Net income: CN¥180.6m (up 4.1% from 3Q 2024). Profit margin: 2.2% (in line with 3Q 2024). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. New Risk • Oct 15
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 7.3% 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 (7.3% average weekly change). Announcement • Sep 30
Foran Energy Group Co., Ltd. to Report Q3, 2025 Results on Oct 18, 2025 Foran Energy Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 18, 2025 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.45, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Gas Utilities industry in China. Total returns to shareholders of 69% over the past three years. Price Target Changed • Aug 21
Price target increased by 13% to CN¥13.50 Up from CN¥12.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of CN¥11.66. Stock is up 16% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.61 last year. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥12.18, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Gas Utilities industry in China. Total returns to shareholders of 20% over the past three years. Reported Earnings • Jul 12
Second quarter 2025 earnings released: EPS: CN¥0.13 (vs CN¥0.17 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.13. Revenue: CN¥8.79b (up 10% from 2Q 2024). Net income: CN¥228.3m (up 9.5% from 2Q 2024). Profit margin: 2.6% (in line with 2Q 2024). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Gas Utilities industry in China. Announcement • Jul 02
Foran Energy Group Co., Ltd. to Report First Half, 2025 Results on Aug 22, 2025 Foran Energy Group Co., Ltd. announced that they will report first half, 2025 results on Aug 22, 2025 Reported Earnings • Apr 26
First quarter 2025 earnings released: EPS: CN¥0.06 (vs CN¥0.062 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.06. Revenue: CN¥6.55b (up 6.4% from 1Q 2024). Net income: CN¥81.0m (flat on 1Q 2024). Profit margin: 1.2% (down from 1.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Gas Utilities industry in China. Declared Dividend • Apr 17
Final dividend of CN¥0.23 announced Shareholders will receive a dividend of CN¥0.23. Ex-date: 22nd April 2025 Payment date: 22nd April 2025 Dividend yield will be 4.4%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 16
Foran Energy Group Co., Ltd. Approves Cash Dividend for the Year 2024, Payable on April 22, 2025 Foran Energy Group Co., Ltd. held its Annual General Meeting of 2024 on 11 April 2025, approved Cash dividend (tax included) of CNY 2.30000000 per 10 shares for the year 2024. Record date: 21 April 2025, Ex-date: 22 April 2025
Payment date: 22 April 2025. Announcement • Mar 31
Foran Energy Group Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Foran Energy Group Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Mar 25
Foran Energy Group Co., Ltd. Proposes Profit Distribution Proposal for the Year 2024 Foran Energy Group Co., Ltd. announced its profit distribution proposal for the year 2024, which includes a final cash dividend of CNY 2.30 per 10 shares. The dividend is inclusive of tax. Announcement • Mar 24
Foran Energy Group Co., Ltd., Annual General Meeting, Apr 11, 2025 Foran Energy Group Co., Ltd., Annual General Meeting, Apr 11, 2025, at 15:00 China Standard Time. Location: 16F, No. 18, Nanhai Avenue Middle, Chancheng District, Foshan, Guangdong China Announcement • Feb 14
Foran Energy Group Co., Ltd. Announces 2024 Special Profit Distribution Plan to Be Implemented (A Shares), Payable on 20 February 2025 Foran Energy Group Co., Ltd. announced 2024 special profit distribution plan to be implemented (A shares). The company announced Cash dividend/10 shares (tax included) of CNY 2.50000000, payable on 20 February 2025; Record date: 19 February 2025; and Ex-date: 20 February 2025. Reported Earnings • Jan 15
Full year 2024 earnings released: EPS: CN¥0.61 (vs CN¥0.64 in FY 2023) Full year 2024 results: EPS: CN¥0.61. Revenue: CN¥31.5b (up 24% from FY 2023). Net income: CN¥848.1m (flat on FY 2023). Profit margin: 2.7% (down from 3.3% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Gas Utilities industry in China. Announcement • Dec 31
Foran Energy Group Co., Ltd. to Report Fiscal Year 2024 Results on Mar 26, 2025 Foran Energy Group Co., Ltd. announced that they will report fiscal year 2024 results on Mar 26, 2025 Price Target Changed • Oct 27
Price target increased by 11% to CN¥12.00 Up from CN¥10.85, the current price target is provided by 1 analyst. New target price is 5.3% above last closing price of CN¥11.40. Stock is up 24% over the past year. The company is forecast to post earnings per share of CN¥0.70 for next year compared to CN¥0.64 last year. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.13 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.12. Revenue: CN¥8.18b (up 24% from 3Q 2023). Net income: CN¥173.6m (up 7.6% from 3Q 2023). Profit margin: 2.1% (down from 2.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Gas Utilities industry in China. Announcement • Sep 30
Foran Energy Group Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Foran Energy Group 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 16% After last week's 16% share price gain to CN¥11.48, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Gas Utilities industry in China. Total returns to shareholders of 37% over the past three years. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.16 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.16 in 2Q 2023). Revenue: CN¥7.97b (up 21% from 2Q 2023). Net income: CN¥208.4m (up 6.4% from 2Q 2023). Profit margin: 2.6% (down from 3.0% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 11% per year. Board Change • Aug 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Director Wei Yi Ji was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 29
Foran Energy Group Co., Ltd. to Report First Half, 2024 Results on Aug 09, 2024 Foran Energy Group Co., Ltd. announced that they will report first half, 2024 results on Aug 09, 2024 Major Estimate Revision • May 10
Consensus EPS estimates increase by 30% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from CN¥0.723 to CN¥0.94. Revenue forecast unchanged at CN¥28.8b. Net income forecast to grow 14% next year vs 23% growth forecast for Gas Utilities industry in China. Consensus price target up from CN¥10.85 to CN¥14.10. Share price rose 2.9% to CN¥9.87 over the past week. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.08 (vs CN¥0.062 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.08 (up from CN¥0.062 in 1Q 2023). Revenue: CN¥6.16b (up 38% from 1Q 2023). Net income: CN¥80.3m (up 3.1% from 1Q 2023). Profit margin: 1.3% (down from 1.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Declared Dividend • Apr 20
Dividend increased to CN¥0.60 Dividend of CN¥0.60 is 33% higher than last year. Ex-date: 26th April 2024 Payment date: 26th April 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (76% cash payout ratio). The dividend has increased by an average of 23% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 30
Foran Energy Group Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Foran Energy Group Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CN¥0.83 (up from CN¥0.66 in FY 2022). Revenue: CN¥25.5b (up 35% from FY 2022). Net income: CN¥844.5m (up 29% from FY 2022). Profit margin: 3.3% (down from 3.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 28
Price target increased by 7.1% to CN¥14.10 Up from CN¥13.16, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CN¥13.45. Stock is up 2.4% over the past year. The company is forecast to post earnings per share of CN¥0.74 for next year compared to CN¥0.66 last year. Announcement • Mar 27
Foran Energy Group Co., Ltd., Annual General Meeting, Apr 16, 2024 Foran Energy Group Co., Ltd., Annual General Meeting, Apr 16, 2024, at 15:00 China Standard Time. Location: 16F, No. 18, Nanhai Avenue Middle, Chancheng District, Foshan, Guangdong China New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Announcement • Jan 16
Foran Energy Group Co., Ltd. Announces Directorate Changes Foran Energy Group Co., Ltd. at its EGM held on January 12, 2024, approved election of non-independent directors: Ji Weiyi, non-independent director; and election of independent directors: Liao Zhongmin, independent director. Announcement • Dec 29
Foran Energy Group Co., Ltd. to Report Fiscal Year 2023 Results on Mar 27, 2024 Foran Energy Group Co., Ltd. announced that they will report fiscal year 2023 results on Mar 27, 2024 Announcement • Sep 30
Foran Energy Group Co., Ltd. to Report Q3, 2023 Results on Oct 26, 2023 Foran Energy Group Co., Ltd. announced that they will report Q3, 2023 results on Oct 26, 2023 New Risk • Sep 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.6% increase in shares outstanding). New Risk • Aug 10
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 09
Second quarter 2023 earnings released: EPS: CN¥0.21 (vs CN¥0.20 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.21 (up from CN¥0.20 in 2Q 2022). Revenue: CN¥6.60b (up 34% from 2Q 2022). Net income: CN¥195.9m (up 1.4% from 2Q 2022). Profit margin: 3.0% (down from 3.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Gas Utilities industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Announcement • Jul 01
Foran Energy Group Co., Ltd. to Report First Half, 2023 Results on Aug 09, 2023 Foran Energy Group Co., Ltd. announced that they will report first half, 2023 results on Aug 09, 2023 Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: CN¥0.66 (vs CN¥0.63 in FY 2021) Full year 2022 results: EPS: CN¥0.66 (up from CN¥0.63 in FY 2021). Revenue: CN¥18.9b (up 40% from FY 2021). Net income: CN¥655.3m (up 10% from FY 2021). Profit margin: 3.5% (down from 4.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 18% per year. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥14.00, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 17x in the Gas Utilities industry in China. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥13.70, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 18x in the Gas Utilities industry in China. Total returns to shareholders of 69% over the past three years. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.14 (up from CN¥0.14 in 3Q 2021). Revenue: CN¥5.26b (up 25% from 3Q 2021). Net income: CN¥134.6m (up 2.0% from 3Q 2021). Profit margin: 2.6% (down from 3.1% 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 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥14.90, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 21x in the Gas Utilities industry in China. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥15.61, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 22x in the Gas Utilities industry in China. Total returns to shareholders of 106% over the past three years. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥11.37, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 18x in the Gas Utilities industry in China. Total returns to shareholders of 47% over the past three years. Buying Opportunity • Jul 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.2%. The fair value is estimated to be CN¥11.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 18%. Buying Opportunity • Jun 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.2%. The fair value is estimated to be CN¥11.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 18%. Announcement • May 27
Foran Energy Group Co.,Ltd. Announces 2021 Final Cash Distribution, Payable on 31 May 2022 Foran Energy Group Co.,Ltd. announced 2021 final cash distribution of Cash dividend/10 shares (tax included): CNY 4.50000000. Record date is 30 May 2022, Ex-date is 31 May 2022 and Payment date: 31 May 2022. Buying Opportunity • May 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be CN¥11.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Earnings per share has grown by 18%. Announcement • May 21
Foran Energy Group Co.,Ltd. Approves Cash Dividend Foran Energy Group Co.,Ltd. held its Annual General Meeting of 2021 on 19 May 2022, during which it approved: Cash dividend/10 shares (tax included): CNY 4.50000000. Announcement • May 02
Foran Energy Group Co.,Ltd. Proposed Final Cash Dividend for the Year 2021 Foran Energy Group Co.,Ltd. proposed final cash dividend of CNY 4.50000000 per ten shares (tax included) for the year 2021. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.17 in 3Q 2020) The company reported a decent third quarter result with improved revenues, although earnings and profit margins were weaker. Third quarter 2021 results: Revenue: CN¥4.20b (up 101% from 3Q 2020). Net income: CN¥132.0m (down 17% from 3Q 2020). Profit margin: 3.1% (down from 7.6% 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 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging 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¥10.40, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 21x in the Gas Utilities industry in China. Total loss to shareholders of 3.2% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥12.21, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 21x in the Gas Utilities industry in China. Total returns to shareholders of 12% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥3.31b (up 83% from 2Q 2020). Net income: CN¥190.1m (up 5.0% from 2Q 2020). Profit margin: 5.7% (down from 10.0% 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 9% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.077 (vs CN¥0.053 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¥2.12b (up 82% from 1Q 2020). Net income: CN¥71.0m (up 37% from 1Q 2020). Profit margin: 3.4% (down from 4.5% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 38% share price decline to CN¥11.44, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 22x in the Gas Utilities industry in China. Total loss to shareholders of 53% over the past three years. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥0.84 (vs CN¥0.74 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥7.51b (up 17% from FY 2019). Net income: CN¥465.0m (up 13% from FY 2019). Profit margin: 6.2% (down from 6.4% in FY 2019). The decrease in margin was driven by higher expenses. 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 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥19.47, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 22x in the Gas Utilities industry in China. Total loss to shareholders of 19% over the past three years. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥15.22 The company is down 3.0% from its price of CN¥15.76 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is down 12% over the same period. Announcement • Jan 22
Foran Energy Group Co.,Ltd. to Report Fiscal Year 2020 Results on Mar 13, 2021 Foran Energy Group Co.,Ltd. announced that they will report fiscal year 2020 results on Mar 13, 2021 Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥18.38, the stock is trading at a trailing P/E ratio of 22.7x, up from the previous P/E ratio of 19.7x. This compares to an average P/E of 21x in the Gas Utilities industry in China. Total return to shareholders over the past three years is a loss of 29%. Is New 90 Day High Low • Dec 25
New 90-day high: CN¥17.66 The company is up 12% from its price of CN¥15.83 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: CN¥17.20 The company is up 6.0% from its price of CN¥16.26 on 04 September 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is down 2.0% over the same period. Announcement • Nov 24
Foran Energy Group Co., Ltd. Approves Management Appointments Foran Energy Group Co., Ltd. announced at its EGM held on November 20, 2020, the shareholders approved the election of non-independent directors, cumulative voting system applicable: Xiong Shaoqiang; Li Lifang; Chen Yongjian; and He Hanming, election of independent directors, cumulative voting system applicable: Zhou Linbin; Chen Qiuxiong; and Liao Zhongmin and election of non-employee supervisors, cumulative voting system applicable: Qiu Jianhang and Liang Wenhua. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥447.9m, up 17% from the prior year. Total revenue was CN¥6.90b over the last 12 months, up 14% from the prior year. Announcement • Oct 17
Foran Energy Group Co., Ltd. to Report Q3, 2020 Results on Oct 24, 2020 Foran Energy Group Co., Ltd. announced that they will report Q3, 2020 results on Oct 24, 2020 Is New 90 Day High Low • Oct 01
New 90-day low: CN¥15.58 The company is down 1.0% from its price of CN¥15.80 on 03 July 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is down 3.0% over the same period. Announcement • Jul 25
Foran Energy Group Co., Ltd. to Report First Half, 2020 Results on Aug 21, 2020 Foran Energy Group Co., Ltd. announced that they will report first half, 2020 results on Aug 21, 2020