Reported Earnings • Apr 01
Full year 2025 earnings released: CN¥0.13 loss per share (vs CN¥0.13 loss in FY 2024) Full year 2025 results: CN¥0.13 loss per share (improved from CN¥0.13 loss in FY 2024). Revenue: CN¥556.9m (down 4.8% from FY 2024). Net loss: CN¥66.8m (loss narrowed 2.2% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Mar 31
Changmao Biochemical Engineering Company Limited, Annual General Meeting, May 28, 2026 Changmao Biochemical Engineering Company Limited, Annual General Meeting, May 28, 2026. New Risk • Mar 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.8% operating cash flow to total debt). Earnings have declined by 49% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (HK$180.1m market cap, or US$23.0m). Announcement • Mar 16
Changmao Biochemical Engineering Company Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Changmao Biochemical Engineering Company Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Reported Earnings • Aug 20
First half 2025 earnings released: CN¥0.049 loss per share (vs CN¥0.035 loss in 1H 2024) First half 2025 results: CN¥0.049 loss per share (further deteriorated from CN¥0.035 loss in 1H 2024). Revenue: CN¥272.3m (down 13% from 1H 2024). Net loss: CN¥25.8m (loss widened 37% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Aug 02
Changmao Biochemical Engineering Company Limited to Report First Half, 2025 Results on Aug 18, 2025 Changmao Biochemical Engineering Company Limited announced that they will report first half, 2025 results on Aug 18, 2025 Announcement • May 28
Changmao Biochemical Engineering Company Limited Approves Board Changes, Effective from 18 June 2025 Changmao Biochemical Engineering Company Limited at its AGM held on 28 May 2025 approved to consider and approve the resignation of Mr.
Zeng Xian Biao and Wang Jian Ping as the non-executive director of the Company both effective from 18 June 2025. Reported Earnings • Apr 26
Full year 2024 earnings released: CN¥0.13 loss per share (vs CN¥0.16 loss in FY 2023) Full year 2024 results: CN¥0.13 loss per share (improved from CN¥0.16 loss in FY 2023). Revenue: CN¥584.8m (down 8.2% from FY 2023). Net loss: CN¥68.2m (loss narrowed 21% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Board Change • Apr 24
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. 6 non-independent directors. Independent Non-Executive Director Mun Wah Cheng was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
Changmao Biochemical Engineering Company Limited, Annual General Meeting, May 28, 2025 Changmao Biochemical Engineering Company Limited, Annual General Meeting, May 28, 2025. Reported Earnings • Mar 30
Full year 2024 earnings released: CN¥0.13 loss per share (vs CN¥0.16 loss in FY 2023) Full year 2024 results: CN¥0.13 loss per share (improved from CN¥0.16 loss in FY 2023). Revenue: CN¥584.8m (down 8.2% from FY 2023). Net loss: CN¥68.2m (loss narrowed 21% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. New Risk • Mar 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 36% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (HK$211.9m market cap, or US$27.3m). Announcement • Mar 12
Changmao Biochemical Engineering Company Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Changmao Biochemical Engineering Company Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Recent Insider Transactions • Nov 07
Non-Executive Director recently bought HK$141k worth of stock On the 5th of November, Xiao Ping Yu bought around 320k shares on-market at roughly HK$0.44 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$3.3m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 19
First half 2024 earnings released: CN¥0.035 loss per share (vs CN¥0.008 profit in 1H 2023) First half 2024 results: CN¥0.035 loss per share (down from CN¥0.008 profit in 1H 2023). Revenue: CN¥313.8m (up 5.8% from 1H 2023). Net loss: CN¥18.8m (down CN¥22.9m from profit in 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • Aug 02
Changmao Biochemical Engineering Company Limited to Report First Half, 2024 Results on Aug 16, 2024 Changmao Biochemical Engineering Company Limited announced that they will report first half, 2024 results on Aug 16, 2024 Recent Insider Transactions • May 09
Chairman & Compliance Officer recently bought HK$132k worth of stock On the 6th of May, Xin Sheng Rui bought around 316k shares on-market at roughly HK$0.42 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$836k. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$3.7m worth in shares. Recent Insider Transactions • Apr 24
Chairman & Compliance Officer recently bought HK$836k worth of stock On the 19th of April, Xin Sheng Rui bought around 2m shares on-market at roughly HK$0.38 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$3.5m worth in shares. Recent Insider Transactions • Apr 03
Chairman & Compliance Officer recently bought HK$164k worth of stock On the 28th of March, Xin Sheng Rui bought around 420k shares on-market at roughly HK$0.39 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$1.8m worth in shares. Announcement • Mar 27
Changmao Biochemical Engineering Company Limited, Annual General Meeting, May 28, 2024 Changmao Biochemical Engineering Company Limited, Annual General Meeting, May 28, 2024. Reported Earnings • Mar 27
Full year 2023 earnings released: CN¥0.16 loss per share (vs CN¥0.15 profit in FY 2022) Full year 2023 results: CN¥0.16 loss per share (down from CN¥0.15 profit in FY 2022). Revenue: CN¥637.1m (down 13% from FY 2022). Net loss: CN¥86.1m (down 206% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 18% per year and the company’s share price has also fallen by 18% per year. New Risk • Mar 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. High level of non-cash earnings (26% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Profit margins are more than 30% lower than last year (6.9% net profit margin). Market cap is less than US$100m (HK$198.6m market cap, or US$25.4m). Announcement • Mar 09
Changmao Biochemical Engineering Company Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 Changmao Biochemical Engineering Company Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Recent Insider Transactions • Jan 09
Chairman & Compliance Officer recently bought HK$59k worth of stock On the 5th of January, Xin Sheng Rui bought around 100k shares on-market at roughly HK$0.59 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$327k. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$1.7m worth in shares. Recent Insider Transactions • Dec 28
Chairman & Compliance Officer recently bought HK$231k worth of stock On the 22nd of December, Xin Sheng Rui bought around 412k shares on-market at roughly HK$0.56 per share. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$327k. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$1.6m worth in shares. Recent Insider Transactions • Dec 19
Chairman & Compliance Officer recently bought HK$54k worth of stock On the 14th of December, Xin Sheng Rui bought around 100k shares on-market at roughly HK$0.54 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$327k. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$1.4m worth in shares. Recent Insider Transactions • Nov 21
Chairman & Compliance Officer recently bought HK$327k worth of stock On the 17th of November, Xin Sheng Rui bought around 596k shares on-market at roughly HK$0.55 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$1.0m worth in shares. Recent Insider Transactions • Nov 07
Chairman & Compliance Officer recently bought HK$277k worth of stock On the 3rd of November, Xin Sheng Rui bought around 512k shares on-market at roughly HK$0.54 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xin Sheng has been a buyer over the last 12 months, purchasing a net total of HK$487k worth in shares. New Risk • Aug 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 (currently running at an operating cash loss). High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.9% net profit margin). Market cap is less than US$100m (HK$354.9m market cap, or US$45.3m). Reported Earnings • Aug 19
First half 2023 earnings released: EPS: CN¥0.008 (vs CN¥0.077 in 1H 2022) First half 2023 results: EPS: CN¥0.008 (down from CN¥0.077 in 1H 2022). Revenue: CN¥296.6m (down 23% from 1H 2022). Net income: CN¥4.16m (down 90% from 1H 2022). Profit margin: 1.4% (down from 11% in 1H 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
Changmao Biochemical Engineering Company Limited to Report First Half, 2023 Results on Aug 18, 2023 Changmao Biochemical Engineering Company Limited announced that they will report first half, 2023 results on Aug 18, 2023 Buying Opportunity • Jul 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be HK$1.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 42%. Buying Opportunity • Jun 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be HK$1.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 42%. Announcement • May 19
Changmao Biochemical Engineering Company Limited approves Final Dividend for the Year Ended 31 December 2022, Payable on 18 July 2023 Changmao Biochemical Engineering Company Limited approved the payment of a final dividend of RMB 0.077 for the year ended 31 December 2022. Ex-dividend date is 22 May 2023. Record date is 29 May 2023. Payment date is 18 July 2023. Upcoming Dividend • May 15
Upcoming dividend of CN¥0.077 per share at 8.4% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 18 July 2023. Trailing yield: 8.4%. Within top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (7.2%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.15 (vs CN¥0.11 in FY 2021) Full year 2022 results: EPS: CN¥0.15 (up from CN¥0.11 in FY 2021). Revenue: CN¥730.0m (up 33% from FY 2021). Net income: CN¥81.4m (up 40% from FY 2021). Profit margin: 11% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. 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. 6 non-independent directors. Independent Non-Executive Director Mun Wah Cheng was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 07
First half 2022 earnings released: EPS: CN¥0.077 (vs CN¥0 in 1H 2021) First half 2022 results: EPS: CN¥0.077 (up from CN¥0 in 1H 2021). Revenue: CN¥382.8m (up 55% from 1H 2021). Net income: CN¥40.9m (up CN¥40.6m from 1H 2021). Profit margin: 11% (up from 0.1% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 30
Changmao Biochemical Engineering Company Limited Announces Appointment of Ms. Cheng Mun Wah as Independent Non-Executive Director and Chairman of Audit Committee, and Member of Remuneration Committee and Nomination Committee Changmao Biochemical Engineering Company Limited announced appointment of Ms. Cheng Mun Wah as an independent non-executive director, chairman of the audit committee and member of the remuneration committee and the nomination committee of the Company which was effective from 1 July 2022. The State Administration for Market Regulation has requested the Company to pass a resolution in a general meeting to approve, ratify and confirm the appointment of Ms. Cheng in order to register such change. The terms of the appointment of Ms. Cheng will be extended to 17 June 2025, which will be the same as that of other Directors of the 8th session of the board (the "Board") of directors (the "Directors"). Accordingly, an ordinary resolution in relation to the appointment of Ms. Cheng will be proposed at the extraordinary general meeting to be held by the Company on 20 September 2022. The biography of Ms. Cheng is set out below: Ms. Cheng Mun Wah, aged 60, has over 25 years of experience in the field of corporate finance and accounting in Hong Kong. Ms. Cheng holds a bachelor's degree of commerce from the University of Alberta in Canada. Ms. Cheng is currently a managing director of a corporation licensed to carry out type 1 (dealing in securities) and type 6 (advising on corporate finance) regulated activities as defined under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO"). Ms. Cheng is a certified public accountant of The Hong Kong Institute of Certified Public Accountants and a fellow member of The Chartered Association of Certified Accountants. Reported Earnings • Aug 19
First half 2022 earnings released: EPS: CN¥0 (vs CN¥0 in 1H 2021) First half 2022 results: EPS: CN¥0 (vs CN¥0 in 1H 2021). Revenue: CN¥382.8m (up 55% from 1H 2021). Net income: CN¥40.9m (up CN¥40.6m from 1H 2021). Profit margin: 11% (up from 0.1% in 1H 2021). Announcement • Aug 07
Changmao Biochemical Engineering Company Limited to Report First Half, 2022 Results on Aug 18, 2022 Changmao Biochemical Engineering Company Limited announced that they will report first half, 2022 results on Aug 18, 2022 Announcement • Aug 06
Changmao Biochemical Engineering Company Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2022 Changmao Biochemical Engineering Company Limited provided consolidated earnings guidance for the six months ended June 30, 2022. For the period, the company is likely to record a consolidated net profit attributable to the equity holders of the Company for 1H2022 of an amount ranging between RMB 35 million to RMB 45 million, represent a significant increase compared to the consolidated net profit attributable to the equity holders of the Company of approximately RMB 0.24 million for the six months ended 30 June 2021. Announcement • Jul 01
Changmao Biochemical Engineering Company Limited Appoints Cheng Mun Wah as Independent Non-Executive Director and Chairman of Audit Committee and Member of Remuneration Committee and Nomination Committee The board of directors of Changmao Biochemical Engineering Company Limited announced that, having taken into account the Board Diversity Policy of the Company, the views, skills and experience of Ms. Cheng Mun Wah and the contribution she may bring to the Company, the Nomination Committee of the Company and the Board have considered and approved to appoint Ms. Cheng as an independent non-executive Director for a term from July 1, 2022 until the conclusion of the next following annual general meeting of the Company to be held in 2023. Ms. Cheng Mun Wah, aged 60, has over 25 years of experience in the field of corporate finance and accounting in Hong Kong. Ms. Cheng holds a bachelor's degree of commerce from the University of Alberta in Canada. Ms. Cheng is currently a managing director of a corporation licensed to carry out type 1 (dealing in securities) and type 6 (advising on corporate finance) regulated activities as defined under the Securities and Futures Ordinance Ms. Cheng is a certified public accountant of The Hong Kong Institute of Certified Public Accountants and a fellow member of The Chartered Association of Certified Accountants. Ms. Cheng has entered into a letter of appointment with the Company. The remuneration payable to Ms. Cheng is determined by the remuneration committee of the Company, with reference to her expected contribution of time, effort and expertise on the Company's matters. Ms. Cheng is entitled to an annual Director's fee of RMB 80,000 per her term of office. Ms. Cheng has also been appointed as the chairman of the audit committee, and a member of the remuneration committee and the nomination committee of the Company effective from July 1, 2022. Announcement • May 26
Changmao Biochemical Engineering Company Limited Approves Board Resignations, Effective 18 June 2022 Changmao Biochemical Engineering Company Limited announced that at its AGM held on 25 May 2022, the shareholders approved resignation of Prof. Ouyang Ping Kai, Ms. Wei Xin and Ms. Au Fung Lan as independent non-executive director with effect from 18 June 2022. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Supervisor Zhou Zhi Wei 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. Insufficient board refreshment. Reported Earnings • Mar 28
Full year 2021 earnings released Full year 2021 results: Revenue: CN¥548.0m (up 23% from FY 2020). Net income: CN¥58.3m (up 247% from FY 2020). Profit margin: 11% (up from 3.8% in FY 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • May 17
Upcoming dividend of CN¥0.02 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 30 July 2021. Trailing yield: 3.2%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (3.9%). Reported Earnings • Apr 24
Full year 2020 earnings released: EPS CN¥0.032 (vs CN¥0.11 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥444.1m (down 10% from FY 2019). Net income: CN¥16.8m (down 71% from FY 2019). Profit margin: 3.8% (down from 12% 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 15% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥444.1m (down 10% from FY 2019). Net income: CN¥16.8m (down 71% from FY 2019). Profit margin: 3.8% (down from 12% in FY 2019). The decrease in margin was driven by lower revenue. Announcement • Mar 18
Changmao Biochemical Engineering Company Limited Provides Earnings Guidance for the Year Ended 31 December 2020 The board of directors of the Changmao Biochemical Engineering Company Limited informed the shareholders of the company and potential investors that the Group has substantially completed the assessment of the Impairment Loss and DTA Write off; and having assessed the currently available information, the Group is likely to record a consolidated net profit attributable to the equity holders of the company for the year ended 31 December 2020 of approximately RMB 14,000,000 to RMB 21,000,000, which represents a significant decline as compared with the consolidated net profit
attributable to the equity holders of the company of approximately RMB 58,299,000 for the year ended 31 December 2019. Announcement • Mar 16
Changmao Biochemical Engineering Company Limited to Report Fiscal Year 2020 Results on Mar 30, 2021 Changmao Biochemical Engineering Company Limited announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Jan 26
New 90-day high: HK$0.65 The company is up 12% from its price of HK$0.58 on 28 October 2020. The Hong Kong market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 49% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: HK$0.56 The company is down 11% from its price of HK$0.63 on 31 July 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Chemicals industry, which is also down 11% over the same period. Announcement • Aug 08
Changmao Biochemical Engineering Company Limited to Report First Half, 2020 Results on Aug 28, 2020 Changmao Biochemical Engineering Company Limited announced that they will report first half, 2020 results on Aug 28, 2020