Upcoming Dividend • Jun 03
Upcoming dividend of HK$0.069 per share Eligible shareholders must have bought the stock before 10 June 2026. Payment date: 24 July 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (3.3%). Declared Dividend • May 15
Final dividend of HK$0.069 announced Shareholders will receive a dividend of HK$0.069. Ex-date: 10th June 2026 Payment date: 24th July 2026 Dividend yield will be 6.2%, which is lower than the industry average of 8.1%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 14
Sinofert Holdings Limited, Annual General Meeting, Jun 05, 2026 Sinofert Holdings Limited, Annual General Meeting, Jun 05, 2026, at 10:00 China Standard Time. Location: 24th floor, admiralty centre 1, 18 harcourt road, admiralty., Hong Kong Reported Earnings • Mar 27
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥0.18 (up from CN¥0.15 in FY 2024). Revenue: CN¥23.3b (up 9.4% from FY 2024). Net income: CN¥1.26b (up 19% from FY 2024). Profit margin: 5.4% (up from 5.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.1%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 16
Sinofert Holdings Limited to Report Fiscal Year 2025 Final Results on Mar 26, 2026 Sinofert Holdings Limited announced that they will report fiscal year 2025 final results at 9:30 AM, China Standard Time on Mar 26, 2026 Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.86, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Chemicals industry in Hong Kong. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.75 per share. Announcement • Feb 14
Sinofert Holdings Limited Announces Board Changes, Effective February 13, 2026 Sinofert Holdings Limited announced that Mr. Su Fu has resigned as a non-executive director of the Company, the Chairman of the Board and the Chairman of the strategy committee of the Board due to adjustment on work arrangements, with effect from February 13, 2026. Mr. Zhang Xuegong has been appointed as an executive director of the Company, the Chairman of the Board and the Chairman of the strategy committee of the Board, with effect from February 13, 2026. Mr. Zhang Xuegong, aged 55, graduated from Tsinghua University in July 1995 with a Master of Science degree in physical chemistry, and obtained a master of business administration degree from China Europe International Business School in November 2004. Mr. Zhang joined China Chemical Import and Export Corporation in August 1995, and has since held various positions, including section chief of the Personnel Department and director of the president’s office of China Chemical Import and Export Corporation; deputy general manager and general manager of the logistics business division of Sinochem International Corporation; assistant to the general manager, deputy director and director of the strategic execution department of Sinochem Group Co. Ltd.; director of the strategic execution department of Sinochem Holdings Corporation Ltd.; and executive director, secretary to the Party Committee and general manager of China National Seed Group Co. Ltd. Between March 1999 and February 2001, Mr. Zhang served in the Company, during which he successively held various positions including that of a staff member of the phosphate fertilizer division, deputy director and director of the general office. From October 2022 to February 2026, Mr. Zhang served as secretary to the Party Committee and president of the chemical business division of Sinochem Holdings Corporation Ltd., secretary to the Party Committee and general manager of Sinochem International Corporation, and director and chairman of Sinochem International Corporation. Since February 2026, Mr. Zhang has been serving as secretary to the Party Committee of Sinochem Fertilizer Company Limited. Mr. Zhang has extensive experience in leading corporate development, is familiar with the agricultural and chemical industry chains and competitive landscape, possesses a thorough understanding of international business practices, and has strong capabilities in strategic planning, operational management, corporate leadership and business execution. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$1.64, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Chemicals industry in Hong Kong. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.34 per share. Recent Insider Transactions • Sep 03
CEO & Executive Director recently bought HK$640k worth of stock On the 29th of August, Tielin Wang bought around 450k shares on-market at roughly HK$1.42 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Tielin has been a buyer over the last 12 months, purchasing a net total of HK$1.6m worth in shares. Reported Earnings • Aug 26
First half 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.15 in 1H 2024) First half 2025 results: EPS: CN¥0.16 (up from CN¥0.15 in 1H 2024). Revenue: CN¥14.7b (up 7.6% from 1H 2024). Net income: CN¥1.10b (up 5.1% from 1H 2024). Profit margin: 7.5% (down from 7.7% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Aug 12
Sinofert Holdings Limited to Report First Half, 2025 Results on Aug 25, 2025 Sinofert Holdings Limited announced that they will report first half, 2025 results on Aug 25, 2025 Recent Insider Transactions • Jul 12
Executive Director recently bought HK$393k worth of stock On the 9th of July, Shengnan Chen bought around 300k shares on-market at roughly HK$1.31 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$970k more in shares than they have sold in the last 12 months. Announcement • Jun 24
Sinofert Holdings Limited Announces Special Dividend, Payable on 25 July 2025 Sinofert Holdings Limited announced special dividend of HKD 0.0246 per share. Ex-dividend date: 08 July 2025. Record date: 10 July 2025. Payment date: 25 July 2025. Upcoming Dividend • Jun 09
Upcoming dividend of HK$0.057 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.6%). Declared Dividend • May 18
Dividend of HK$0.057 announced Shareholders will receive a dividend of HK$0.057. Ex-date: 13th June 2025 Payment date: 25th July 2025 Dividend yield will be 4.8%, which is lower than the industry average of 8.1%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 15
Sinofert Holdings Limited, Annual General Meeting, Jun 10, 2025 Sinofert Holdings Limited, Annual General Meeting, Jun 10, 2025, at 10:00 China Standard Time. Location: 24th floor, admiralty centre 1, 18 harcourt road, admiralty, Hong Kong Recent Insider Transactions • May 15
CEO & Executive Director recently bought HK$346k worth of stock On the 12th of May, Tielin Wang bought around 300k shares on-market at roughly HK$1.15 per share. This transaction increased Tielin's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Tielin has been a buyer over the last 12 months, purchasing a net total of HK$577k worth in shares. Reported Earnings • Apr 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.15 (up from CN¥0.089 in FY 2023). Revenue: CN¥21.3b (down 2.1% from FY 2023). Net income: CN¥1.06b (up 70% from FY 2023). Profit margin: 5.0% (up from 2.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 8.4%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 10% 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. Reported Earnings • Mar 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.15 (up from CN¥0.089 in FY 2023). Revenue: CN¥21.3b (down 2.1% from FY 2023). Net income: CN¥1.06b (up 70% from FY 2023). Profit margin: 5.0% (up from 2.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 8.4%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Announcement • Mar 13
Sinofert Holdings Limited to Report Fiscal Year 2024 Results on Mar 25, 2025 Sinofert Holdings Limited announced that they will report fiscal year 2024 results on Mar 25, 2025 Announcement • Jan 27
Sinofert Holdings Limited Provides Earnings Guidance for the Year Ended December 31, 2024 Sinofert Holdings Limited provided earnings guidance for the year Ended December 31, 2024. For the year, the group it is expected to record a profit attributable to owners of the Company between RMB 1,010 million and RMB 1,110 million, which represents a notable increase as compared to the profit attributable to owners of the Company for the year ended 31 December 2023 of RMB 626 million. 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 HK$1.11, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Chemicals industry in Hong Kong. Total loss to shareholders of 8.3% over the past three years. Reported Earnings • Aug 28
First half 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.14 in 1H 2023) First half 2024 results: EPS: CN¥0.15 (up from CN¥0.14 in 1H 2023). Revenue: CN¥13.7b (up 4.2% from 1H 2023). Net income: CN¥1.05b (up 4.7% from 1H 2023). Profit margin: 7.7% (up from 7.6% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 13% per year. Announcement • Aug 14
Sinofert Holdings Limited to Report First Half, 2024 Results on Aug 26, 2024 Sinofert Holdings Limited announced that they will report first half, 2024 results on Aug 26, 2024 Buy Or Sell Opportunity • Jul 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to HK$0.97. The fair value is estimated to be HK$0.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.9%. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$1.02, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 9x in the Chemicals industry in Hong Kong. Total loss to shareholders of 6.5% over the past three years. Buy Or Sell Opportunity • Jul 02
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to HK$1.02. The fair value is estimated to be HK$0.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.9%. Buy Or Sell Opportunity • Jun 28
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to HK$1.00. The fair value is estimated to be HK$0.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.9%. Board Change • Jun 14
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Po Yuen Sun was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Buy Or Sell Opportunity • Jun 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to HK$0.95. The fair value is estimated to be HK$0.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.9%. Board Change • Jun 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Xin Lu was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 08
Sinofert Holdings Limited Announces Board and Committee Changes Sinofert Holdings Limited announced that Mr. Tse Hau Yin, Aloysius has retired as an independent non-executive director of the Company, and has ceased to be the chairman of the audit committee, a member of the nomination committee and a member of the remuneration committee of the Board, with effect from the conclusion of the AGM; and Mr. Sun Po Yuen has been appointed as an independent non-executive director of the Company, the chairman of the audit committee, a member of the nomination committee and a member of the remuneration committee of the Board, with effect from the conclusion of the AGM. Upcoming Dividend • Jun 06
Upcoming dividend of HK$0.049 per share Eligible shareholders must have bought the stock before 13 June 2024. Payment date: 18 July 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (4.9%). Declared Dividend • May 16
Dividend of HK$0.049 announced Shareholders will receive a dividend of HK$0.049. Ex-date: 13th June 2024 Payment date: 18th July 2024 Dividend yield will be 4.9%, which is lower than the industry average of 8.1%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 21% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 6.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 16
Sinofert Holdings Limited, Annual General Meeting, Jun 07, 2024 Sinofert Holdings Limited, Annual General Meeting, Jun 07, 2024, at 09:30 China Standard Time. Location: 24th floor, admiralty centre 1, 18 harcourt road, admiralty, Hong Kong Announcement • May 15
Sinofert Holdings Limited Announces Retirement of Tse Hau Yin, Aloysius as an Independent Non-Executive Director The board of directors of Sinofert Holdings Limited (the Company) announced that Mr. Tse Hau Yin, Aloysius (Mr. Tse) shall retire from office at the forthcoming annual general meeting of the Company to be held on 7 June 2024 (the AGM) pursuant to the bye-laws of the Company. Mr. Tse has informed the Board that he has decided not to offer himself for re-election at the AGM after consideration. Accordingly, with effect from the conclusion of the AGM, Mr. Tse will retire as an independent non-executive director of the Company, and cease to be the chairman of the audit committee, a member of the nomination committee and a member of the remuneration committee of the Board. Mr. Tse has confirmed that he has no disagreement with the Board and that there are no matters relating to his retirement that need to be brought to the attention of the shareholders of the Company. Buy Or Sell Opportunity • May 09
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to HK$0.98. The fair value is estimated to be HK$0.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.9%. Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: CN¥0.089 (vs CN¥0.16 in FY 2022) Full year 2023 results: EPS: CN¥0.089 (down from CN¥0.16 in FY 2022). Revenue: CN¥21.7b (down 5.5% from FY 2022). Net income: CN¥625.5m (down 44% from FY 2022). Profit margin: 2.9% (down from 4.9% in FY 2022). The decrease in margin was driven by lower revenue. 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 4% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Sinofert Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2023 Sinofert Holdings Limited proposed the Final Dividend of HKD 0.0491 per share for the year ended 31 December 2023. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: CN¥0.089 (vs CN¥0.16 in FY 2022) Full year 2023 results: EPS: CN¥0.089 (down from CN¥0.16 in FY 2022). Revenue: CN¥21.7b (down 5.5% from FY 2022). Net income: CN¥625.5m (down 44% from FY 2022). Profit margin: 2.9% (down from 4.9% in FY 2022). The decrease in margin was driven by lower revenue. 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 7% per year, which means it is significantly lagging earnings. Announcement • Mar 14
Sinofert Holdings Limited to Report Fiscal Year 2023 Final Results on Mar 25, 2024 Sinofert Holdings Limited announced that they will report fiscal year 2023 final results on Mar 25, 2024 Buy Or Sell Opportunity • Feb 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to HK$0.77. The fair value is estimated to be HK$0.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 23%. Announcement • Feb 01
Sinofert Holdings Limited Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Year Ended 31 December 2023 Sinofert Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2023. For the year, the group expects to record a profit attributable to owners of the Company to be between RMB 550 million and RMB 650 million, which represents a decrease as compared to the profit attributable to owners of the Company for the year ended 31 December 2022 of RMB 1,117 million. Based on the information currently available, the expected decrease is mainly attributable to the following reasons: provision for asset impairment loss for interests in an associate and provision for expected credit loss due to performance of guarantees obligations by Sinochem Fertilizer for its associate. Announcement • Jan 24
Sinofert Holdings Limited Announces Executive Changes The board of directors of Sinofert Holdings Limited announced that Mr. Liu Hongsheng (Mr. Liu) has resigned as a non-executive director and the chairman of the Board of the Company due to adjustment of work arrangements, with effect from 24 January 2024. Mr. Liu has confirmed that he has no disagreement with the Board and that there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board further announces that Mr. Su Fu (Mr. Su) has been appointed as a non-executivedirector and the chairman of the Board of the Company, with effect from 24 January 2024. Upon establishment of the strategy committee of the Board (the Strategy Committee) as set out in this announcement below, Mr. Su has also been appointed as a member and the chairman of the Strategy Committee. Mr. Su, aged 49, graduated from the Department of Economics of Beijing Wuzi University majoring in international trade with a bachelor's degree in economics in July 1995. From July 1995 to March 2000, Mr. Su worked at Beijing Chemical Industry and Light Industry Company and Huaxing Import & Export Trading Co. Ltd. Mr. Su joined Sinochem International Corporation in March 2000, and held various positions including the assistant to the general manager and the deputy general manager of Sinochem International. From January 2013 to November 2022, Mr. Su served as the chief executive officer of Sennics Co. Ltd. Mr. Su was the director of the strategy implementation department and the production and operation department of Sinochem Holdings Corporation Ltd. in November 2022 and September 2023, respectively. Mr. Su has been serving as the chairman of Syngenta Group China since December 2023. Mr. Su is also serving as the chairman of the supervisory committee of various subsidiaries of Sinochem Holdings, including Haohua Chemical Science & Technology Corp. Ltd. and Luxi Chemical Group Co. Ltd. Mr. Su has many years of experience in leading the development of enterprises, with a deep understanding of the rules on international business operations. He is also familiar with the chemical industry chain and the competitive landscape of the industry, has the ability to make good strategic judgments, decisions and business operations, and possesses strong capabilities in investment, merger and acquisition, as well as industry integration. The Company will issue a formal letter of appointment to Mr. Su, setting out key terms and conditions of his appointment. The term of office of Mr. Su will be three years from the date of appointment. Pursuant to the bye-laws of the Company, Mr. Su will hold office until the next annual general meeting of the Company and will then be eligible for re-election at that meeting. Thereafter, Mr. Su will be subject to retirement by rotation and will be eligible for re-election at subsequent annual general meetings of the Company in accordance with the bye-laws of the Company. The Board announced that, with effect from 24 January 2024, the Board has established the Strategy Committee of the Board for the purposes of promoting strategic development of the Company, enhancing its core competitiveness, and improving decision-making procedures for investments. Mr. Su Fu, a non-executive director, has been appointed as a member and the chairman of the Strategy Committee; and Ms. Wang Ling, an executive director, and Mr. Lu Xin, an independent non-executive director, have been appointed as members of the Strategy Committee, in each case with effect from 24 January 2024. Reported Earnings • Aug 30
First half 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 1H 2022) First half 2023 results: EPS: CN¥0.14 (up from CN¥0.14 in 1H 2022). Revenue: CN¥13.1b (down 14% from 1H 2022). Net income: CN¥1.00b (flat on 1H 2022). Profit margin: 7.6% (up from 6.5% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
Sinofert Holdings Limited to Report First Half, 2023 Results on Aug 28, 2023 Sinofert Holdings Limited announced that they will report first half, 2023 results on Aug 28, 2023 Upcoming Dividend • Jun 16
Upcoming dividend of HK$0.062 per share at 5.6% yield Eligible shareholders must have bought the stock before 23 June 2023. Payment date: 18 July 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 5.6%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (7.8%). Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$1.17, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Chemicals industry in Hong Kong. Total returns to shareholders of 80% over the past three years. Major Estimate Revision • Apr 28
Consensus revenue estimates increase by 25%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from CN¥18.3b to CN¥22.8b. EPS estimate fell from CN¥0.17 to CN¥0.15. Net income forecast to shrink 3.0% next year vs 0.09% decline forecast for Chemicals industry in Hong Kong. Consensus price target down from HK$1.17 to HK$1.10. Share price rose 2.1% to HK$0.99 over the past week. Board Change • Mar 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Xin Lu was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 21
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: CN¥0.16 (up from CN¥0.12 in FY 2021). Revenue: CN¥23.0b (up 1.6% from FY 2021). Net income: CN¥1.12b (up 29% from FY 2021). Profit margin: 4.9% (up from 3.8% in FY 2021). Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is expected to decline by 11% p.a. on average during the next 2 years, while revenues in the Chemicals industry in Hong Kong are expected to grow by 7.7%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 10
Sinofert Holdings Limited Provides Group Earnings Guidance for the Year Ended December 31, 2022 Sinofert Holdings Limited provided group earnings guidance for the year ended December 31, 2022. The board of directors of the company informed the shareholders of the company and potential investors that based on a preliminary review of the unaudited consolidated management accounts of the Group, it is expected that the Group will record a profit attributable to owners of the Company for the year ended 31 December 2022 between RMB 1,070 million and RMB1,170 million, which represents a notable increase as compared with the profit attributable to owners of the Company for the year ended 31 December 2021 of RMB 867 million. The increase in the operating results is mainly attributable to the following reasons: (i) the Group deeply promoted the strategic procurement channel and exerted its strengths of supply chain to secure stable supply of quality product resources, which satisfied the demand of industrial and agricultural production; (2) the Group accelerated the implementation of differentiated strategy and carried out the integration of research, production and sales, with the focus on crop plantation and soil health with respect to core crops, to promote the improvement of the gross profit of products; (3) overcoming the adverse effects of rising prices of raw materials, the production enterprises fully capitalized on their own advantage of resources to make every effort to ensure stable, long-lasting and optimal operations; and (4) the Group consistently deepened its strategic collaboration with its controlling shareholder, Syngenta Group Co. Ltd., achieving a significant year-on-year growth in synergistic sales. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Xin Lu was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: CN¥0.14 (vs CN¥0.094 in 1H 2021) First half 2022 results: EPS: CN¥0.14 (up from CN¥0.094 in 1H 2021). Revenue: CN¥15.3b (up 13% from 1H 2021). Net income: CN¥998.4m (up 51% from 1H 2021). Profit margin: 6.5% (up from 4.9% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 1.6% compared to a 2.7% growth forecast for the Chemicals industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 15
Upcoming dividend of HK$0.053 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 35% and the cash payout ratio is 88%. Trailing yield: 4.0%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (5.3%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Xin Lu was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$1.04, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.14 per share. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.72, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 6x in the Chemicals industry in Hong Kong. Total returns to shareholders of 104% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.55 per share. Reported Earnings • Aug 26
First half 2021 earnings released: EPS CN¥0.094 (vs CN¥0.064 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥13.6b (up 8.4% from 1H 2020). Net income: CN¥663.4m (up 48% from 1H 2020). Profit margin: 4.9% (up from 3.6% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 27% share price gain to CN¥1.51, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$0.81 per share. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥1.35, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 5x in the Chemicals industry in Hong Kong. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$0.73 per share. Upcoming Dividend • Jun 03
Upcoming dividend of HK$0.033 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 23 July 2021. Trailing yield: 3.0%. Lower than top quartile of Hong Kong dividend payers (5.9%). Lower than average of industry peers (3.5%). Major Estimate Revision • May 15
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from CN¥28.5b to CN¥23.7b. EPS estimate unchanged from CN¥0.10 per share at last update. Chemicals industry in Hong Kong expected to see average net income growth of 27% next year. Consensus price target broadly unchanged at HK$1.29. Share price rose 9.3% to HK$1.06 over the past week. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥1.13, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Chemicals industry in Hong Kong. Total returns to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$0.56 per share. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS CN¥0.092 (vs CN¥0.088 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥21.4b (down 6.8% from FY 2019). Net income: CN¥644.1m (up 4.6% from FY 2019). Profit margin: 3.0% (up from 2.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.