Declared Dividend • Jul 06
Dividend of CN¥0.045 announced Shareholders will receive a dividend of CN¥0.045. Ex-date: 10th July 2026 Payment date: 10th July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 12% 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 64% to shift the payout ratio to a potentially unsustainable range, which is more than the 10.0% EPS decline seen over the last 5 years. Announcement • Jun 30
Shandong Shengli Co., Ltd. to Report First Half, 2026 Results on Aug 15, 2026 Shandong Shengli Co., Ltd. announced that they will report first half, 2026 results on Aug 15, 2026 Announcement • Apr 30
Shandong Shengli Co., Ltd., Annual General Meeting, May 22, 2026 Shandong Shengli Co., Ltd., Annual General Meeting, May 22, 2026, at 13:30 China Standard Time. Location: The Company's Meeting Room, Jinan, Shandong China Announcement • Mar 31
Shandong Shengli Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Shandong Shengli Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Shandong Shengli Co., Ltd. to Report Fiscal Year 2025 Results on Mar 25, 2026 Shandong Shengli Co., Ltd. announced that they will report fiscal year 2025 results on Mar 25, 2026 Announcement • Jul 02
Shandong Shengli Co., Ltd. to Report First Half, 2025 Results on Aug 20, 2025 Shandong Shengli Co., Ltd. announced that they will report first half, 2025 results on Aug 20, 2025 Announcement • Mar 31
Shandong Shengli Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Shandong Shengli Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Mar 25
Shandong Shengli Co., Ltd. Proposes Final Cash Dividend for 2024 Shandong Shengli Co., Ltd. proposed final cash dividend/10 shares (tax included) of CNY 0.42 for the year 2024. Announcement • Mar 24
Shandong Shengli Co., Ltd., Annual General Meeting, May 20, 2025 Shandong Shengli Co., Ltd., Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jinan, Shandong China Announcement • Jan 02
Shandong Shengli Co., Ltd. Announces Board Appointments Shandong Shengli Co., Ltd. held its 1st Extraordinary General Meeting of 2024 on 30 December 2024, during which the following proposal(s) was/were approved: Election of non-independent directors: Xu Tieliang, non-independent director, Liu Lianyong, non-independent director, Meng Xianying, non-independent director, Wang Wei, non-independent director, Du Yihong, non-independent director, and Lian Boxun, non-independent director. Election of independent directors, cumulative voting system applicable: Yang Zhishu, independent director, Zheng Shiqiao, independent director, and Dai Tianyu, independent director. Announcement • Dec 31
Shandong Shengli Co., Ltd. to Report Fiscal Year 2024 Results on Mar 22, 2025 Shandong Shengli Co., Ltd. announced that they will report fiscal year 2024 results on Mar 22, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.031 (vs CN¥0.024 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.031 (up from CN¥0.024 in 3Q 2023). Revenue: CN¥1.01b (up 6.4% from 3Q 2023). Net income: CN¥27.7m (up 34% from 3Q 2023). Profit margin: 2.7% (up from 2.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 09
Now 20% undervalued Over the last 90 days, the stock has risen 15% to CN¥3.05. The fair value is estimated to be CN¥3.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥3.19, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 15x in the Gas Utilities industry in China. Total loss to shareholders of 38% over the past three years. Announcement • Sep 30
Shandong Shengli Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Shandong Shengli Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.066 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.07 (up from CN¥0.066 in 2Q 2023). Revenue: CN¥991.6m (down 6.3% from 2Q 2023). Net income: CN¥62.1m (up 6.1% from 2Q 2023). Profit margin: 6.3% (up from 5.5% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 19
Dividend increased to CN¥0.055 Dividend of CN¥0.055 is 175% higher than last year. Ex-date: 25th July 2024 Payment date: 25th July 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 13% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 18
Shandong Shengli Co., Ltd. Announces Final Profit Distribution for the Year 2023, Payable on 25 July 2024 Shandong Shengli Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares): cash dividend (tax included) of CNY 0.55000000 per ten shares. Record date is 24 July 2024. Ex-date is 25 July 2024. Payment date is 25 July 2024. Announcement • Jun 29
Shandong Shengli Co., Ltd. to Report First Half, 2024 Results on Aug 17, 2024 Shandong Shengli Co., Ltd. announced that they will report first half, 2024 results on Aug 17, 2024 New Risk • May 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings have declined by 11% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Apr 26
Shandong Shengli Co., Ltd., Annual General Meeting, May 28, 2024 Shandong Shengli Co., Ltd., Annual General Meeting, May 28, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Jinan, Shandong China Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.023 (vs CN¥0.026 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.023 (down from CN¥0.026 in 1Q 2023). Revenue: CN¥1.20b (down 3.9% from 1Q 2023). Net income: CN¥20.0m (down 12% from 1Q 2023). Profit margin: 1.7% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Announcement • Mar 30
Shandong Shengli Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Shandong Shengli Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: CN¥0.17 (vs CN¥0.17 in FY 2022) Full year 2023 results: EPS: CN¥0.17 (up from CN¥0.17 in FY 2022). Revenue: CN¥4.68b (flat on FY 2022). Net income: CN¥153.4m (up 1.1% from FY 2022). Profit margin: 3.3% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥3.00, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 17x in the Gas Utilities industry in China. Total loss to shareholders of 25% over the past three years. Announcement • Dec 30
Shandong Shengli Co., Ltd. to Report Fiscal Year 2023 Results on Mar 23, 2024 Shandong Shengli Co., Ltd. announced that they will report fiscal year 2023 results on Mar 23, 2024 Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CN¥0.024 (vs CN¥0.035 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.024 (down from CN¥0.035 in 3Q 2022). Revenue: CN¥949.4m (down 21% from 3Q 2022). Net income: CN¥20.7m (down 33% from 3Q 2022). Profit margin: 2.2% (down from 2.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: CN¥0.063 (vs CN¥0.067 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.063 (down from CN¥0.067 in 2Q 2022). Revenue: CN¥1.06b (down 3.9% from 2Q 2022). Net income: CN¥58.5m (down 1.5% from 2Q 2022). Profit margin: 5.5% (up from 5.4% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Jul 07
Shandong Shengli Co., Ltd. Announces Final Profit Distribution for the Year 2022, Payable on 14 July 2023 Shandong Shengli Co., Ltd. announced 2022 final profit distribution plan to be implemented (A shares): cash dividend (tax included) of CNY 0.20000000 per ten shares. Record date is 13 July 2023. Ex-date is 14 July 2023. Payment date is 14 July 2023. Announcement • Jul 01
Shandong Shengli Co., Ltd. to Report First Half, 2023 Results on Aug 19, 2023 Shandong Shengli Co., Ltd. announced that they will report first half, 2023 results on Aug 19, 2023 New Risk • Jun 22
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • May 20
Shandong Shengli Co., Ltd. Approves Cash Dividend for the Year 2022 Shandong Shengli Co., Ltd. at the AGM, the shareholders approved cash dividend/10 shares (tax included): CNY 0.20000000 for the year 2022. Reported Earnings • May 04
First quarter 2023 earnings released: EPS: CN¥0.026 (vs CN¥0.035 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.026 (down from CN¥0.035 in 1Q 2022). Revenue: CN¥1.25b (up 10% from 1Q 2022). Net income: CN¥22.7m (down 26% from 1Q 2022). Profit margin: 1.8% (down from 2.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥0.17 (vs CN¥0.13 in FY 2021) Full year 2022 results: EPS: CN¥0.17 (up from CN¥0.13 in FY 2021). Revenue: CN¥4.65b (up 2.1% from FY 2021). Net income: CN¥151.7m (up 38% from FY 2021). Profit margin: 3.3% (up from 2.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Shiqiao Zheng is the most experienced director on the board, commencing their role in 2021. Independent Director Zhishu Yang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.058 (vs CN¥0.013 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.058 (up from CN¥0.013 in 3Q 2021). Revenue: CN¥1.16b (flat on 3Q 2021). Net income: CN¥51.2m (up 326% from 3Q 2021). Profit margin: 4.4% (up from 1.0% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.067 (vs CN¥0.029 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.067 (up from CN¥0.029 in 2Q 2021). Revenue: CN¥1.10b (up 25% from 2Q 2021). Net income: CN¥59.4m (up 132% from 2Q 2021). Profit margin: 5.4% (up from 2.9% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.035 (vs CN¥0.17 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.035 (down from CN¥0.17 in 1Q 2021). Revenue: CN¥1.13b (down 2.9% from 1Q 2021). Net income: CN¥30.9m (down 80% from 1Q 2021). Profit margin: 2.7% (down from 13% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 5% per year. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Shiqiao Zheng is the most experienced director on the board, commencing their role in 2021. Independent Director Zhishu Yang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥4.99, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 20x in the Gas Utilities industry in China. Total returns to shareholders of 14% over the past three years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.013 (vs CN¥0.055 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.17b (up 20% from 3Q 2020). Net income: CN¥12.0m (down 75% from 3Q 2020). Profit margin: 1.0% (down from 5.0% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥4.54, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 20x in the Gas Utilities industry in China. Total returns to shareholders of 27% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.029 (vs CN¥0.074 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥878.1m (down 16% from 2Q 2020). Net income: CN¥25.6m (down 56% from 2Q 2020). Profit margin: 2.9% (down from 5.6% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% 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 17
Full year 2020 earnings released: EPS CN¥0.16 (vs CN¥0.31 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥4.60b (down 14% from FY 2019). Net income: CN¥141.1m (down 49% from FY 2019). Profit margin: 3.1% (down from 5.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 26
New 90-day low: CN¥3.81 The company is down 8.0% from its price of CN¥4.15 on 29 October 2020. The Chinese market is up 12% 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. Is New 90 Day High Low • Nov 16
New 90-day high: CN¥4.59 The company is up 13% from its price of CN¥4.05 on 18 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is down 7.0% over the same period. Is New 90 Day High Low • Oct 27
New 90-day high: CN¥4.22 The company is up 2.0% from its price of CN¥4.15 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is down 5.0% 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¥287.9m, up 122% from the prior year. Total revenue was CN¥4.24b over the last 12 months, down 23% from the prior year. Reported Earnings • Oct 23
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥288.0m, up 122% from the prior year. Total revenue was CN¥4.24b over the last 12 months, down 23% from the prior year. 
