Reported Earnings • Apr 01
Full year 2025 earnings released: EPS: CN¥0.013 (vs CN¥0.014 in FY 2024) Full year 2025 results: EPS: CN¥0.013 (down from CN¥0.014 in FY 2024). Revenue: CN¥4.11b (up 6.5% from FY 2024). Net income: CN¥12.7m (flat on FY 2024). Profit margin: 0.3% (in line with FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 162 percentage points per year, which is a significant difference in performance. Announcement • Mar 31
GHW International, Annual General Meeting, May 12, 2026 GHW International, Annual General Meeting, May 12, 2026. New Risk • Mar 30
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 Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 10% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Announcement • Mar 18
GHW International to Report Fiscal Year 2025 Results on Mar 30, 2026 GHW International announced that they will report fiscal year 2025 results on Mar 30, 2026 New Risk • Nov 13
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 Hong Kong stocks, typically moving 12% 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: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 10% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 29
First half 2025 earnings released: EPS: CN¥0.007 (vs CN¥0.005 in 1H 2024) First half 2025 results: EPS: CN¥0.007 (up from CN¥0.005 in 1H 2024). Revenue: CN¥1.86b (up 3.7% from 1H 2024). Net income: CN¥7.04m (up 58% from 1H 2024). Profit margin: 0.4% (up from 0.2% in 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 175 percentage points per year, which is a significant difference in performance. New Risk • Aug 28
New major risk - Revenue and earnings growth Earnings have declined by 10% 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 Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 10% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Announcement • Aug 15
GHW International to Report First Half, 2025 Results on Aug 25, 2025 GHW International announced that they will report first half, 2025 results on Aug 25, 2025 Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: CN¥0.014 (vs CN¥0.003 in FY 2023) Full year 2024 results: EPS: CN¥0.014 (up from CN¥0.003 in FY 2023). Revenue: CN¥3.86b (up 20% from FY 2023). Net income: CN¥12.8m (up 368% from FY 2023). Profit margin: 0.3% (up from 0.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 139 percentage points per year, which is a significant difference in performance. Announcement • Mar 31
GHW International, Annual General Meeting, May 27, 2025 GHW International, Annual General Meeting, May 27, 2025. New Risk • Mar 25
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 Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Announcement • Mar 20
GHW International to Report Fiscal Year 2024 Results on Mar 31, 2025 GHW International announced that they will report fiscal year 2024 results on Mar 31, 2025 Announcement • Dec 10
GHW International has completed a Follow-on Equity Offering in the amount of HKD 24.7 million. GHW International has completed a Follow-on Equity Offering in the amount of HKD 24.7 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 9,500,000
Price\Range: HKD 2.6
Transaction Features: Subsequent Direct Listing Announcement • Nov 22
GHW International has filed a Follow-on Equity Offering in the amount of HKD 24.7 million. GHW International has filed a Follow-on Equity Offering in the amount of HKD 24.7 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 9,500,000
Price\Range: HKD 2.6
Transaction Features: Subsequent Direct Listing Reported Earnings • Aug 28
First half 2024 earnings released: EPS: CN¥0.005 (vs CN¥0.001 in 1H 2023) First half 2024 results: EPS: CN¥0.005 (up from CN¥0.001 in 1H 2023). Revenue: CN¥1.79b (up 21% from 1H 2023). Net income: CN¥4.45m (up 405% from 1H 2023). Profit margin: 0.2% (up from 0.1% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 106% per year, which means it is well ahead of earnings. Announcement • Aug 20
GHW International Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 June 2024 GHW International provided unaudited consolidated earnings guidance for the six months ended 30 June 2024. For six months, the Group is expected to record a net profit of approximately RMB4 million for the Current Period, as compared to a net profit of approximately RMB 1 million for the six months ended 30 June 2023. The Board is of the view that the increase in net profit was mainly attributable to an increase in gross profit as a result of the increase in gross profits generated from the self-manufacturing products in the fine chemicals segment, including isooctanoic acid, cardanol and diethyl sulfate; which is partially offset by (i) the decrease in other gain due to the decrease in net exchange gain as a result of the depreciation of US$ against RMB during the period; (ii) the increase in selling and distribution expenses due to the significant increases in shipment and logistics costs, which was in line with the increase in sales volume during the period; and (iii) an increase in administrative expenses due to increases in transportation expenses and advisory fees for conducting feasibility studies of the potential expansion plans and site visits of locations, as well as the increasing rental and other office expenses due to the expansion of office in Hong Kong. Announcement • Aug 15
GHW International to Report First Half, 2024 Results on Aug 26, 2024 GHW International announced that they will report first half, 2024 results on Aug 26, 2024 New Risk • Mar 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.2x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (0.08% net profit margin). Market cap is less than US$100m (HK$550.0m market cap, or US$70.3m). Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: CN¥0.003 (vs CN¥0.28 in FY 2022) Full year 2023 results: EPS: CN¥0.003 (down from CN¥0.28 in FY 2022). Revenue: CN¥3.22b (down 4.8% from FY 2022). Net income: CN¥2.72m (down 99% from FY 2022). Profit margin: 0.1% (down from 8.1% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 23
GHW International, Annual General Meeting, May 22, 2024 GHW International, Annual General Meeting, May 22, 2024. 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 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (106% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (HK$610.0m market cap, or US$78.0m). Announcement • Mar 14
GHW International to Report Fiscal Year 2023 Results on Mar 22, 2024 GHW International announced that they will report fiscal year 2023 results on Mar 22, 2024 Reported Earnings • Aug 31
First half 2023 earnings released: EPS: CN¥0.001 (vs CN¥0.17 in 1H 2022) First half 2023 results: EPS: CN¥0.001 (down from CN¥0.17 in 1H 2022). Revenue: CN¥1.48b (down 7.6% from 1H 2022). Net income: CN¥881.0k (down 100% from 1H 2022). Profit margin: 0.1% (down from 11% in 1H 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.2% Last year net profit margin: 8.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (104% net debt to equity). Profit margins are more than 30% lower than last year (3.2% net profit margin). Significant insider selling over the past 3 months (HK$25m sold). Market cap is less than US$100m (HK$475.0m market cap, or US$60.5m). Announcement • Aug 24
GHW International Provides Group Earnings Guidance for the Six Months Ended 30 June 2023 GHW International provided group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record a profit attributable to owners of the Company of approximately RMB 1 million for the Current Period, compared to a profit attributable to owners of the Company of approximately RMB 171 million for the six months ended 30 June 2022. Announcement • Aug 18
GHW International to Report First Half, 2023 Results on Aug 28, 2023 GHW International announced that they will report first half, 2023 results on Aug 28, 2023 Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.13 in FY 2021) Full year 2022 results: EPS: CN¥0.28 (up from CN¥0.13 in FY 2021). Revenue: CN¥3.38b (up 19% from FY 2021). Net income: CN¥274.6m (up 110% from FY 2021). Profit margin: 8.1% (up from 4.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 26% 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 Qing Zheng was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: CN¥0.17 (vs CN¥0.027 in 1H 2021) First half 2022 results: EPS: CN¥0.17 (up from CN¥0.027 in 1H 2021). Revenue: CN¥1.60b (up 35% from 1H 2021). Net income: CN¥170.8m (up CN¥143.8m from 1H 2021). Profit margin: 11% (up from 2.3% in 1H 2021). The increase in margin was driven by higher revenue. Announcement • Aug 24
GHW International Provides Group Earnings Guidance for the Six Months Ended 30 June 2022 The board of directors of GHW International informed the shareholders of the Company and potential investors that, based on a preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2022 and other information currently available to the Board, the Group expects to record a profit attributable to owners of the Company of approximately RMB 170 million for the Current Period, compared to a profit attributable to owners of the Company of approximately RMB 27 million for the six months ended 30 June 2021. Based on the information currently available, the expected profit attributable to owners of the Company for the Current Period was mainly attributable to an increase in gross profit as a result of (i) the good performance in the company's operations in the People's Republic of China due to the increasing average selling prices of some of the company's major products and the company's successful procurement strategies of raw materials; and (ii) a net foreign exchange gain mainly as a result of appreciation of US dollar against Renminbi, which is partially offset by the increase in (i) selling and distribution expenses and administrative expenses due to the increasing operating scale of the Group, the significant increase in shipping and logistics costs and the provision of performance bonus to staff; (ii) research and development expenses incurred from artificial intelligent system transformation projects, production technology enhancement projects, expansion of research and development team as well as rising cost of raw materials; and (iii) income tax expense, which was in line with the increase in profit generated for the Current Period. Announcement • Aug 18
GHW International to Report First Half, 2022 Results on Aug 29, 2022 GHW International announced that they will report first half, 2022 results on Aug 29, 2022 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. 6 non-independent directors. Independent Non-Executive Director Qing Zheng was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
GHW International, Annual General Meeting, May 25, 2022 GHW International, Annual General Meeting, May 25, 2022, at 17:00 China Standard Time. Location: 2nd Floor, 6th Building, Xincheng Science Park, No. 69 Aoti Street, Nanjing China Agenda: To receive and consider the audited consolidated financial statements of the Company and its subsidiaries together with the directors' (the "Director(s)") report and the independent auditor's (the "Independent Auditor") report for the year ended 31 December 2021; to consider board changes; To authorise the board of Directors (the "Board") to fix the Directors' remunerations; To re-appoint Deloitte Touche Tohmatsu as the Independent Auditor and authorise the Board to fix its remuneration; To consider and, if thought fit,. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: CN¥0.13 (vs CN¥0.005 loss in FY 2020) Full year 2021 results: EPS: CN¥0.13 (up from CN¥0.005 loss in FY 2020). Revenue: CN¥2.83b (up 35% from FY 2020). Net income: CN¥130.7m (up CN¥135.9m from FY 2020). Profit margin: 4.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Reported Earnings • Aug 31
First half 2021 earnings released: EPS CN¥0.027 (vs CN¥0.001 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.19b (up 33% from 1H 2020). Net income: CN¥27.0m (up CN¥27.7m from 1H 2020). Profit margin: 2.3% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Executive Departure • Jun 03
Executive Director Guibin Sun has left the company On the 26th of May, Guibin Sun's tenure as Executive Director ended. We don't have any record of a personal shareholding under Guibin's name. Guibin is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.71 years. Reported Earnings • Apr 25
Full year 2020 earnings released: CN¥0.005 loss per share (vs CN¥0.039 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥2.10b (up 7.0% from FY 2019). Net loss: CN¥5.18m (down 118% from profit in FY 2019). Reported Earnings • Mar 28
Full year 2020 earnings released: CN¥0.005 loss per share (vs CN¥0.039 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥2.10b (up 7.0% from FY 2019). Net loss: CN¥5.18m (down 118% from profit in FY 2019). Announcement • Mar 17
GHW International to Report Fiscal Year 2020 Results on Mar 26, 2021 GHW International announced that they will report fiscal year 2020 results on Mar 26, 2021 Announcement • Aug 14
GHW International to Report First Half, 2020 Results on Aug 25, 2020 GHW International announced that they will report first half, 2020 results on Aug 25, 2020 
