Announcement • Jun 30
Liaoning Port Co., Ltd. to Report First Half, 2026 Results on Aug 27, 2026 Liaoning Port Co., Ltd. announced that they will report first half, 2026 results on Aug 27, 2026 Announcement • Jun 28
Liaoning Port Co., Ltd. Approves Final Dividend for the Year Ended 31 December 2025, Payable on 1 September 2026 The Board of Liaoning Port Co., Ltd. approved a final dividend of RMB 0.0286 per share for the year ended 31 December 2025. Record date: 09 July 2026. Payment date: 01 September 2026. Announcement • Jun 27
Liaoning Port Co., Ltd. Announces Board and Committee Changes Liaoning Port Co., Ltd. approved at its AGM held on June 26, 2026, that Mr. Jiao Guangjun was elected as Director. Upon Mr. Jiao Guangjun's election as an independent non-executive Director taking effect at the
AGM, Dr. Liu Chunyan ceased to be an independent non-executive Director of the Company due to the expiration of his term of service. The company elected Ms. Zhang Hong (" Ms. Zhang ") as the employee representative Director. Ms. Zhang Hong, born in 1981, a Chinese national, held various positions, including a legal director of Dalian Port Corporation Limited (), a legal director of the Dalian Port (PDA) Company Limited, a legal manager and a deputy head of the enterprise development department of Dalian Port Corporation Limited (), a deputy head of the legal department of Liaoning Port Group Limited, and an employee representative supervisor of the Company. Ms. Zhang currently serves as the employee representative Director, deputy general legal adviser/deputy chief compliance officer and the head of the risk management department/legal compliance department of the Company. Ms. Zhang obtained a bachelor's degree in law from Beijing Technology and Business University and a master's degree in transportation planning and management from Dalian Maritime University, and possesses the qualifications as a corporate lawyer, legal professional, corporate legal adviser, Board secretary, national level-2 credit manager, national level-2 psychological counselor and senior enterprise compliance officer. She is a senior economist. The Board announced that at the first extraordinary meeting for the year of 2026 of the eighth session of the Board held on 26 June 2026, the Board has approved the election of the members to the Company's special committees of the Board with effect from the conclusion of the Board meeting on 26 June 2026: (1) Strategic and Sustainable Development Committee: Dr. Li Guofeng has been appointed as the chairman and Mr. Liu Bin and Mr. Huang Zhenzhou have been appointed as members of the Strategic and Sustainable Development Committee. (2) Nomination and Remuneration Committee: Mr. Jiao Guangjun has been appointed as the chairman and Dr. Li Guofeng and Ms. Cheng Chaoying have been appointed as members of the Nomination and Remuneration Committee. (3) Audit Committee: Ms. Cheng Chaoying has been appointed as chairperson and Mr. Liu Bin and Mr. Chan Wai Hei have been appointed as members of the Audit Committee. (4) Financial Management Committee: Mr. Chan Wai Hei has been appointed as the chairman and Mr. Liu Bin and Ms. Cheng Chaoying have been appointed as members of the Financial Management Committee. Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.029 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 01 September 2026. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.7%). Declared Dividend • Jun 07
Dividend of CN¥0.029 announced Shareholders will receive a dividend of CN¥0.029. Ex-date: 2nd July 2026 Payment date: 1st September 2026 Dividend yield will be 34%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 5.1% 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 48% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.4% EPS decline seen over the last 5 years. Announcement • Jun 04
Liaoning Port Co., Ltd., Annual General Meeting, Jun 26, 2026 Liaoning Port Co., Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 China Standard Time. Location: conference room, liaoning port group office building, no. 1 gangwan street, zhongshan district, dalian, liaoning, China Board Change • May 20
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 4 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). GM & Executive Director Minghui Wei is the most experienced director on the board, commencing their role in 2016. Independent Non-Executive Director William Chan was the last independent director to join the board, commencing their role in 2023. 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. Announcement • Mar 30
Liaoning Port Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Liaoning Port Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 26
Liaoning Port Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 Liaoning Port Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Announcement • Sep 30
Liaoning Port Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Liaoning Port Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Jun 30
Liaoning Port Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Liaoning Port Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Jun 26
Liaoning Port Co., Ltd. Approves Payment of Final Dividend for the Year Ended 31 December 2024, Payable on or Before 1 September 2025 Liaoning Port Co., Ltd. at its AGM held on 26 June 2025, announced that declaration and payment of a final dividend of RMB0.239 (PRC withholding tax included) per ten (10) existing Shares for the year ended 31 December 2024 (the "Final Dividend") has been approved at the AGM. The Final Dividend shall be made on or before 1 September 2025 to the holders of H Shares whose names appeared on the H Share Register on 9 July 2025 (the "Record Date"). According to the Articles of Association, the Final Dividend will be denominated and declared in RMB. Dividends to be paid to the holders of H Shares of the Company will be paid in Hong Kong dollars. The relevant exchange rate will be the average rate of RMB to Hong Kong dollars as announced by the People's Bank of China for the five business days immediately preceding 26 June 2025, being the date of approving the distribution of the Final Dividend by the Shareholders at the AGM, which is RMB 1.00 to HKD 1.0949. Accordingly, the amount of Final Dividend payable every ten (10) H Shares is HKD 0.2617. Announcement • Jun 04
Liaoning Port Co., Ltd., Annual General Meeting, Jun 26, 2025 Liaoning Port Co., Ltd., Annual General Meeting, Jun 26, 2025, at 09:00 China Standard Time. Location: conference room, liaoning port group building, no. 1 gangwan street, zhongshan district, liaoning, dalian China Announcement • Mar 28
Liaoning Port Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Liaoning Port Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Mar 27
Liaoning Port Co., Ltd. Proposes Ordinary Final Dividend for the Year Ended 31 December 2024, Payable on September 01, 2025 Liaoning Port Co., Ltd. proposed ordinary final dividend of RMB 0.0239 per share for the year ended 31 December 2024. Payment date is 01 September 2025. Announcement • Feb 14
Liaoning Port Co., Ltd. Appoints Huang Zhenzhou as Non-Executive Director Liaoning Port Co., Ltd. at Extraordinary General Meeting Held on 14 February 2025, approved to elect Mr. Huang Zhenzhou as a non-executive Director for the seventh session of the Board from the date of approval at the EGM. The Board further announces that at the second extraordinary meeting for the year of 2025 of the seventh session of the Board held on 14 February 2025, the Board has approved the appointment of Mr. Huang Zhenzhou as a member of the strategic and sustainable development committee of the Board, with effect from the date of approval by the Board until the expiration of the term of office of the seventh session of the Board. Announcement • Dec 27
Liaoning Port Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Liaoning Port Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 New Risk • Nov 01
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% 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 • Sep 30
Liaoning Port Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Liaoning Port Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Announcement • Sep 06
Liaoning Port Co., Ltd. (SEHK:2880) announces an Equity Buyback for 449,197,900 shares, representing 1.87% for CNY 840 million. Liaoning Port Co., Ltd. (SEHK:2880) announces a share repurchase program. Under the program, the company will repurchase up to 449,197,900 shares, representing 1.87% of it's issued share capital for CNY 840 million worth of its shares. The shares will be purchased at a price not exceeding CNY 1.87 per share. The purpose of the program is to earnestly protect the interests of all shareholders, enhance the confidence of public investors in the Company, and promote the reasonable return of the Company’s share price. All shares repurchased will be cancelled and the registered capital of the Company will be reduced. The program will be funded from company's own funds. The program will be valid for 12 months from the date on which the Second Repurchase Plan was considered and approved at the general meeting of shareholders of the Company. The repurchase program is subject to approval to the general meeting of shareholders. As of September 5. 2024, the company had 23,987,065,816 shares outstanding including 18,828,349,817 A shares and 5,158,715,999 H shares. Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: CN¥0.003 (vs CN¥0.01 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.003 (down from CN¥0.01 in 2Q 2023). Revenue: CN¥2.49b (down 11% from 2Q 2023). Net income: CN¥81.5m (down 66% from 2Q 2023). Profit margin: 3.3% (down from 8.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% 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. Announcement • Aug 16
Liaoning Port Co., Ltd. (SEHK:2880) announces an Equity Buyback for CNY 120 million worth of its shares. Liaoning Port Co., Ltd. (SEHK:2880) announces a share repurchase program. Under the program, the company will repurchase up to CNY 120 million worth of its shares. The shares repurchased will be used to reduce the company's registered capital and for employee stock ownership plan or equity incentive. The program will be valid till July 31, 2025. Announcement • Jun 29
Liaoning Port Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Liaoning Port Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Jun 08
Liaoning Port Co., Ltd., Annual General Meeting, Jun 27, 2024 Liaoning Port Co., Ltd., Annual General Meeting, Jun 27, 2024, at 09:00 China Standard Time. Location: room 109, liaoning port group building, no. 1 gangwan street, zhongshan district, liaoning, dalian China Declared Dividend • Jun 07
Dividend of CN¥0.019 announced Shareholders will receive a dividend of CN¥0.019. Ex-date: 3rd July 2024 Payment date: 30th August 2024 Dividend yield will be 27%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 1.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 06
Liaoning Port Co., Ltd. Proposes Final Dividend for the Year Ended 31 December 2023 (Updated), Payable August 30, 2024 Liaoning Port Co., Ltd. proposed final dividend of RMB 0.0191 per share for the year ended December 31, 2023. Ex-dividend date July 3, 2024 . Record date July 10, 2024. Payment date August 30, 2024. Date of shareholders' approval June 27, 2024. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.016 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.02. Revenue: CN¥2.89b (up 1.0% from 1Q 2023). Net income: CN¥371.9m (down 5.1% from 1Q 2023). Profit margin: 13% (in line with 1Q 2023). Announcement • Apr 12
Liaoning Port Co., Ltd. Announces Resignation of Cheng Chaoying as Independent Non-Executive Director The board of directors of Liaoning Port Co., Ltd. announced that Ms. Cheng Chaoying has tendered her resignation as an independent non-executive Director due to personal health reason. Ms. Cheng's resignation shall not become effective until a new independent non-executive Director is elected at the shareholders' meeting of the Company. Upon her resignation becoming effective, Ms. Cheng will at the same time cease to be the chairman of the audit committee, a member of the financial management committee and a member of the nomination and remuneration committee under the Board. New Risk • Apr 09
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 German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 29
Liaoning Port Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Liaoning Port Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: CN¥0.056 (vs CN¥0.053 in FY 2022) Full year 2023 results: EPS: CN¥0.056 (up from CN¥0.053 in FY 2022). Revenue: CN¥12.2b (up 2.0% from FY 2022). Net income: CN¥1.34b (up 5.0% from FY 2022). Profit margin: 11% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Mar 28
Liaoning Port Co., Ltd. Proposes Ordinary Final Dividend for the Year Ended December 31, 2023, Payable on August 30, 2024 Liaoning Port Co., Ltd. announced to distribute a final ordinary dividend of RMB 0.0191 per share for the year ended December 31, 2023. Payment date is on August 30, 2024. New Risk • Feb 10
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 German stocks, typically moving 7.4% 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 (7.4% average weekly change). Announcement • Dec 29
Liaoning Port Co., Ltd. to Report Fiscal Year 2023 Results on Mar 29, 2024 Liaoning Port Co., Ltd. announced that they will report fiscal year 2023 results on Mar 29, 2024 Announcement • Dec 16
Liaoning Port Co., Ltd. Announces Management Appointments Liaoning Port Co., Ltd. at its extraordinary general meeting held on December 15, 2023, approved election of Dr. Li Guofeng and Dr. Li Yubin as a non-executive Director of the seventh session of the Board. Their respective terms of office commence from the date of Shareholders' approval at the EGM until the expiration of the term of the seventh session of the Board. As such, the seventh session of the Board comprises of Mr. Wang Zhixian and Mr. Wei Minghui as executive Directors, Dr. Xu Xin, Mr. Yang Bing, Dr. Li Guofeng and Dr. Li Yubin as non-executive Directors, and Dr. Liu Chunyan, Ms. Cheng Chaoying and Mr. Chan Wai Hei as independent non-executive Directors and approved election of Mr. Kuang Zhiguo and Mr. Cui Beiqiang as a Supervisor of the seventh session of the Supervisory Committee. Their respective terms of office commence from the date of Shareholders' approval at the EGM until the expiration of the term of the seventh session of the Supervisory Committee. Announcement • Dec 15
Liaoning Port Co., Ltd. Announces Change of Composition of Board Committees Appointment of Chairman of the Supervisory Committee Liaoning Port Co., Ltd. announce that at the Board meeting held on 15 December 2023, the Board has approved the appointment of Dr. Li Guofeng as a member of the strategic development committee of the Company and a member of the audit committee of the Company, and the appointment of Dr. Li Yubin as a member of the strategic development committee of the Company with effect from the date of approval by the Board until the expiration of the term of office of the seventh session of the Board. The supervisory committee of the Company announced that at the Supervisory Committee meeting held on 15 December 2023, Mr. Kuang Zhiguo was appointed as the chairman of the seventh session of the Supervisory Committee with effect from the date of approval by the Supervisory Committee until the expiration of the term of office of the seventh session of the Supervisory Committee. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.018 (vs CN¥0.017 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.018 (up from CN¥0.017 in 3Q 2022). Revenue: CN¥2.99b (up 4.4% from 3Q 2022). Net income: CN¥442.6m (up 16% from 3Q 2022). Profit margin: 15% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Sep 28
Liaoning Port Co., Ltd. (SEHK:2880) Equity Transfer Agreement to acquire Yingkou Gangxin Technology Co., Ltd from China Merchants International Technology Company Limited for CNY 19.3 million. Liaoning Port Co., Ltd. (SEHK:2880) Equity Transfer Agreement to acquire Yingkou Gangxin Technology Co., Ltd from China Merchants International Technology Company Limited for CNY 19.3 million on September 26, 2023. Yingkou Gangxin Technology Co., Ltd reported a Total common equity of CNY 22.4 million on June 30, 2023. Announcement • Sep 08
Liaoning Port Co., Ltd. Announces Resignation of Dr. Xu Song as Non-Executive Director Liaoning Port Co., Ltd. announced that Dr. Xu Song has tendered his resignation as a non-executive Director with effect from 6 September 2023 due to adjustment of work arrangement. At the same time, Dr. Xu ceased to be a member of the strategic development committee of the Board. Dr. Xu has confirmed that he has no disagreement with the Board and the supervisory committee of the Company and there is no matter in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company. Announcement • Sep 06
Liaoning Port Co., Ltd. Announces Board Changes The board of directors and the supervisory committee of Liaoning Port Co., Ltd. announced that Mr. Li Shichen has tendered his resignation as a supervisor of the Company and the chairman of the Supervisory Committee, and Mr. Cao Yingfeng ("Mr. Cao") has tendered his resignation as the executive deputy general manager of the Company with effect from 4 September 2023 due to adjustment of each of their work arrangements. Reported Earnings • Aug 27
Second quarter 2023 earnings released: EPS: CN¥0.01 (vs CN¥0.01 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.01 (in line with 2Q 2022). Revenue: CN¥2.79b (down 3.9% from 2Q 2022). Net income: CN¥239.5m (down 7.9% from 2Q 2022). Profit margin: 8.6% (down from 9.0% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Aug 12
Liaoning Port Co., Ltd Announces Director Changes Liaoning Port Co., Ltd. announced that Mr. Zhou Qinghong has tendered his resignation as a non-executive Director with effect from 11 August 2023 due to reaching statutory retirement age. At the same time, Mr. Zhou ceased to be a member of the strategic development committee and the audit committee of the Board. The Supervisory Committee announces that Mr. Yuan Yi (" Mr. Yuan ") has tendered his resignation as a supervisor of the Company with effect from 11 August 2023 due to reaching statutory retirement age. Mr. Yuan has confirmed that he has no disagreement with the Board and the Supervisory Committee and there is no matter in relation to his resignation that needs to be brought to the attention of the Hong Kong Stock Exchange and the shareholders of the Company. The Board and the Supervisory Committee would like to express their sincere gratitude to Mr. Yuan for his contribution to the Company during his tenure of office. New Risk • Jul 05
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 German stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (374% cash payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (9.9% net profit margin). Announcement • Jun 27
Liaoning Port Co., Ltd. to Report First Half, 2023 Results on Aug 26, 2023 Liaoning Port Co., Ltd. announced that they will report first half, 2023 results on Aug 26, 2023 Upcoming Dividend • Jun 13
Upcoming dividend of CN¥0.017 per share at 2.8% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 14 August 2023. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (3.2%). Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.084 in FY 2021) Full year 2022 results: EPS: CN¥0.05 (down from CN¥0.084 in FY 2021). Revenue: CN¥12.0b (down 3.0% from FY 2021). Net income: CN¥1.28b (down 33% from FY 2021). Profit margin: 11% (down from 16% in FY 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jan 07
Liaoning Port Co., Ltd. Announces Resignation of Si Zheng as Non-Executive Director The board (Board) of directors (Director(s)) of Liaoning Port Co., Ltd. announced that Mr. Si Zheng (Mr. Si) has tendered his resignation as a non-executive Director with effect from 6 January 2023 due to reaching statutory retirement age. At the same time, Mr. Si ceased to be a member of the strategic development committee of the Board. Mr. Si has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company. Board Change • Nov 16
Less than half of directors are independent There are 10 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: 10 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). GM & Executive Director Minghui Wei is the most experienced director on the board, commencing their role in 2016. Independent Supervisor Zhifeng Wang was the last independent director to join the board, commencing their role in 2020. 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¥0.017 (vs CN¥0.02 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.017 (down from CN¥0.02 in 3Q 2021). Revenue: CN¥2.86b (flat on 3Q 2021). Net income: CN¥382.3m (down 25% from 3Q 2021). Profit margin: 13% (down from 18% in 3Q 2021). 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 13% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.011 (vs CN¥0.016 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.011 (down from CN¥0.016 in 2Q 2021). Revenue: CN¥2.90b (down 4.9% from 2Q 2021). Net income: CN¥260.2m (down 28% from 2Q 2021). Profit margin: 9.0% (down from 12% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 28
Upcoming dividend of CN¥0.027 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: CN¥0.02 (vs CN¥0.024 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.02 (down from CN¥0.024 in 1Q 2021). Revenue: CN¥2.88b (up 3.9% from 1Q 2021). Net income: CN¥481.8m (down 12% from 1Q 2021). Profit margin: 17% (down from 20% in 1Q 2021). 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 11% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 9 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: 9 new directors. 3 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Supervisor Wenjun Jia is the most experienced director on the board, commencing their role in 2015. Independent Supervisor Zhifeng Wang was the last independent director to join the board, commencing their role in 2020. 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 • Mar 31
Full year 2021 earnings released: EPS: CN¥0.085 (vs CN¥0.063 in FY 2020) Full year 2021 results: EPS: CN¥0.085 (up from CN¥0.063 in FY 2020). Revenue: CN¥12.3b (up 86% from FY 2020). Net income: CN¥1.92b (up 136% from FY 2020). Profit margin: 16% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Board Change • Nov 14
Less than half of directors are independent There are 9 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: 9 new directors. 3 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Supervisor Wenjun Jia is the most experienced director on the board, commencing their role in 2015. Independent Supervisor Zhifeng Wang was the last independent director to join the board, commencing their role in 2020. 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. Board Change • Nov 14
Less than half of directors are independent There are 9 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: 9 new directors. 3 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Supervisor Wenjun Jia is the most experienced director on the board, commencing their role in 2015. Independent Supervisor Zhifeng Wang was the last independent director to join the board, commencing their role in 2020. 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 30
Third quarter 2021 earnings released: EPS CN¥0.02 (vs CN¥0.03 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥2.86b (up 68% from 3Q 2020). Net income: CN¥507.3m (up 73% from 3Q 2020). Profit margin: 18% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.016 (vs CN¥0.018 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥3.05b (up 81% from 2Q 2020). Net income: CN¥360.4m (up 52% from 2Q 2020). Profit margin: 12% (down from 14% 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 22% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 15
Upcoming dividend of CN¥0.03 per share Eligible shareholders must have bought the stock before 22 June 2021. Payment date: 13 August 2021. Trailing yield: 4.5%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (1.6%). Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.024 (vs CN¥0.014 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.78b (up 85% from 1Q 2020). Net income: CN¥545.1m (up 200% from 1Q 2020). Profit margin: 20% (up from 12% 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 27% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS CN¥0.063 (vs CN¥0.056 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: CN¥6.66b (flat on FY 2019). Net income: CN¥812.6m (up 13% from FY 2019). Profit margin: 12% (up from 11% in FY 2019). 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 12% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS CN¥0.03 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: CN¥1.70b (up 1.1% from 3Q 2019). Net income: CN¥292.6m (up 16% from 3Q 2019). Profit margin: 17% (up from 15% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.