Announcement • Apr 30
Shanghai Haohai Biological Technology Co., Ltd., Annual General Meeting, May 29, 2026 Shanghai Haohai Biological Technology Co., Ltd., Annual General Meeting, May 29, 2026, at 14:00 China Standard Time. Location: 24/floor, wenguang plaza, no. 1386 hongqiao road, changning district, shanghai China Declared Dividend • Apr 30
Dividend of CN¥0.60 announced Shareholders will receive a dividend of CN¥0.60. Ex-date: 4th June 2026 Payment date: 1st January 1970 Dividend yield will be 4.7%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio). However, it is covered by cash flows (60% cash payout ratio). The dividend has increased by an average of 17% 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 grow by 9.7% to bring the payout ratio under control. However, EPS has remained steady over the last 5 years so the company would need to improve on their historical growth rates. Reported Earnings • Apr 26
First quarter 2026 earnings released: EPS: CN¥0.32 (vs CN¥0.39 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.32 (down from CN¥0.39 in 1Q 2025). Revenue: CN¥571.4m (down 7.6% from 1Q 2025). Net income: CN¥73.6m (down 19% from 1Q 2025). Profit margin: 13% (down from 15% in 1Q 2025). Revenue is forecast to grow 7.9% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Biotechs 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 fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Apr 10
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: 10% Last year net profit margin: 16% 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 Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (10% net profit margin). New Risk • Apr 08
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 30
Shanghai Haohai Biological Technology Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: CN¥1.08 (vs CN¥1.80 in FY 2024) Full year 2025 results: EPS: CN¥1.08 (down from CN¥1.80 in FY 2024). Revenue: CN¥2.47b (down 7.7% from FY 2024). Net income: CN¥251.0m (down 40% from FY 2024). Profit margin: 10% (down from 16% in FY 2024). The decrease in margin was 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 fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Mar 02
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: 10% Last year net profit margin: 16% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (10% net profit margin). Announcement • Dec 26
Shanghai Haohai Biological Technology Co., Ltd. to Report Fiscal Year 2025 Results on Mar 21, 2026 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report fiscal year 2025 results on Mar 21, 2026 Recent Insider Transactions • Dec 20
CFO & Executive Director recently bought HK$249k worth of stock On the 16th of December, Minjie Tang bought around 10k shares on-market at roughly HK$24.86 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Minjie has been a buyer over the last 12 months, purchasing a net total of HK$514k worth in shares. Major Estimate Revision • Dec 02
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥3.15b to CN¥2.64b. EPS estimate fell from CN¥2.43 to CN¥1.99 per share. Net income forecast to grow 40% next year vs 33% growth forecast for Biotechs industry in Hong Kong. Consensus price target down from HK$42.97 to HK$37.13. Share price was steady at HK$27.50 over the past week. Buy Or Sell Opportunity • Nov 03
Now 21% overvalued Over the last 90 days, the stock has fallen 4.1% to HK$27.80. The fair value is estimated to be HK$23.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.40 (vs CN¥2.19 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.40 (down from CN¥2.19 in 3Q 2024). Revenue: CN¥594.7m (down 11% from 3Q 2024). Net income: CN¥93.6m (down 11% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Shanghai Haohai Biological Technology Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Upcoming Dividend • Aug 29
Upcoming dividend of HK$0.44 per share Eligible shareholders must have bought the stock before 05 September 2025. Payment date: 17 October 2025. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (6.6%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: CN¥0.52 (vs CN¥0.43 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.52. Revenue: CN¥674.1m (down 11% from 2Q 2024). Net income: CN¥120.8m (down 12% from 2Q 2024). Profit margin: 18% (in line with 2Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Biotechs industry in Hong Kong. Announcement • Aug 22
Shanghai Haohai Biological Technology Co., Ltd. Declares Interim Dividend for Six Months Ended June 30, 2025, Payable on October 17, 2025 Shanghai Haohai Biological Technology Co., Ltd. declared Interim Dividend of RMB 0.4 per share for six months ended June 30, 2025, Payable on October 17, 2025. Ex-dividend date 05 September 2025, Record date 12 September 2025. The Company will distribute an Interim Dividend of RMB91,493,200.00 (inclusive of tax) in total after deducting the 3,848,095 A Shares held by it as treasury shares. Prior to the record date, if there is any change in the total share capital of the Company, the Company will maintain the dividend per share unchanged and adjust the total amount of Interim Dividend accordingly. The Interim Dividend are denominated and distributed in RMB. The Interim Dividend distributed to H Shareholders are paid in Hong Kong Dollars. The relevant exchange rate shall be the average central parity rate of foreign exchange published by the People's Bank of China within five business days prior to the date of announcement of the of Interim Dividend distribution by the Board, being HKD 1.00: RMB 0.91228, representing an Interim Dividend of HKD 0.438462 (inclusive of tax) payable per H Share. Buy Or Sell Opportunity • Jul 30
Now 21% undervalued Over the last 90 days, the stock has risen 19% to HK$29.10. The fair value is estimated to be HK$36.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 53% in the next 2 years. New Risk • Jul 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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. Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Jun 30
Shanghai Haohai Biological Technology Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Announcement • Jun 13
Shanghai Haohai Biological Technology Co., Ltd Approves Change of Composition of Board Committees Shanghai Haohai Biological Technology Co., Ltd. at its AGM held on June 10, 2025 approved to appoint the members of the respective Board committees as follows: Dr. Hou Yongtai - Nomination Committee and Strategy and Sustainable Development Committee; Mr. Wu Jianying- Member of Remuneration and Review Committee and Strategy and Sustainable Development Committee; Ms. You Jie - Member of Audit Committee, Nomination Committee and Chairman of the Strategy and Sustainable Development Committee; Mr. Huang Ming- Member of Remuneration and Review Committee and Strategy and Sustainable Development Committee; Mr. Jiang Zhihong- Member of Audit Committee, Remuneration and Review Committee and Chairman of Nomination Committee; Mr. Shen Hongbo- Chairman of Audit Committee and Member of Remuneration and Review Committee and Nomination Committee; Mr. Su Zhi- Member of Audit Committee, Nomination Committee and chairman of Remuneration and Review Committee; Mr. Yang Yushe- Member of Audit Committee and Strategy and Sustainable Development Committee. Announcement • Jun 10
Shanghai Haohai Biological Technology Co., Ltd. Approves Final Dividend for the 2024, Payable on 18 July 2025 Shanghai Haohai Biological Technology Co., Ltd. at its AGM held on June 10, 2025 approved 2024 Profit Distribution Plan. The Company will distribute a final dividend of RMB 0.60 (tax inclusive) per Share for the year ended 31 December 2024 (the "Final Dividend") to the H Shareholders whose names appear on the register of members of the Company on Tuesday, 24 June 2024. In order to determine the H Shareholders who are entitled to the Final Dividend, the register of members of the Company will be closed from Thursday, 19 June 2025 to Tuesday, 24 June 2025, both days inclusive, during which period no transfer of H Shares will be registered. The Final Dividend is expected to be paid to the H Shareholders whose names appear on the register of members of the Company on Tuesday, 24 June 2025. To qualify to receive the Final Dividend, H Shareholders whose transfer of Shares has not been registered must lodge all transfer instruments accompanied by the relevant share certificates with the H Shares Registrar at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong at or before 4:30 p.m. on Wednesday, 18 June 2025. Pursuant to the Articles of Association, the Final Dividend are denominated and distributed in RMB. The Final Dividend distributed to H Shareholders are paid in Hong Kong Dollars. The relevant exchange rate shall be the average central parity rate of foreign exchange published by the People's Bank of China within five business days prior to the date of Final Dividend distribution announced at the AGM, being HKD 1.00: RMB 0.91599, representing a Final Dividend of HKD 0.655029 (tax inclusive) payable per H Share. The Company has appointed Computershare Hong Kong Trustees Limited as the Hong Kong Receiving Agent (the " Receiving Agent ") to receive the Final Dividend distributed by the Company on behalf of the H Shareholders. The Final Dividend will be paid by the Receiving Agent and the relevant dividend warrants will be sent out by way of ordinary post by the H Share Registrar, on Friday, 18 July 2025 to the H Shareholders entitled to receive the Final Dividend at the H Shareholders' own risk. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$27.00, the stock trades at a forward P/E ratio of 10x. Average trailing P/E is 32x in the Biotechs industry in Hong Kong. Total returns to shareholders of 33% over the past three years. Declared Dividend • May 14
Dividend of CN¥0.60 announced Shareholders will receive a dividend of CN¥0.60. Ex-date: 17th June 2025 Payment date: 1st January 1970 Dividend yield will be 4.4%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 22% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • May 09
Shanghai Haohai Biological Technology Co., Ltd., Annual General Meeting, Jun 10, 2025 Shanghai Haohai Biological Technology Co., Ltd., Annual General Meeting, Jun 10, 2025, at 14:00 China Standard Time. Location: 24/f, wenguang plaza, no. 1386 hongqiao road, changning district, shanghai China Reported Earnings • Apr 26
First quarter 2025 earnings released: EPS: CN¥0.39 (vs CN¥0.30 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.39. Revenue: CN¥618.5m (down 4.2% from 1Q 2024). Net income: CN¥90.3m (down 7.4% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Biotechs industry in Hong Kong. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$22.40, the stock trades at a forward P/E ratio of 9x. Average trailing P/E is 31x in the Biotechs industry in Hong Kong. Total loss to shareholders of 11% over the past three years. Announcement • Mar 28
Shanghai Haohai Biological Technology Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Feb 20
Full year 2024 earnings released: EPS: CN¥1.80 (vs CN¥1.25 in FY 2023) Full year 2024 results: EPS: CN¥1.80 (up from CN¥1.25 in FY 2023). Revenue: CN¥2.70b (up 1.6% from FY 2023). Net income: CN¥420.2m (up 1.0% from FY 2023). Profit margin: 16% (in line with FY 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 28% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 05
CFO & Executive Director recently bought HK$265k worth of stock On the 31st of December, Minjie Tang bought around 10k shares on-market at roughly HK$26.50 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Minjie's only on-market trade for the last 12 months. Announcement • Dec 27
Shanghai Haohai Biological Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 22, 2025 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 22, 2025 Reported Earnings • Oct 27
Third quarter 2024 earnings released: EPS: CN¥2.19 (vs CN¥0.36 in 3Q 2023) Third quarter 2024 results: EPS: CN¥2.19. Revenue: CN¥670.4m (flat on 3Q 2023). Net income: CN¥105.6m (down 13% from 3Q 2023). Profit margin: 16% (down from 18% in 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 29% growth forecast for the Biotechs industry in Hong Kong. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to HK$32.75, the stock trades at a forward P/E ratio of 12x. Average trailing P/E is 12x in the Biotechs industry in Hong Kong. Total loss to shareholders of 24% over the past three years. Announcement • Sep 30
Shanghai Haohai Biological Technology Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$36.20, the stock trades at a forward P/E ratio of 14x. Average trailing P/E is 12x in the Biotechs industry in Hong Kong. Total loss to shareholders of 13% over the past three years. Announcement • Sep 13
Shanghai Haohai Biological Technology Co., Ltd. Approves Interim Dividend for the Six Months Ended 30 June 2024 Shanghai Haohai Biological Technology Co., Ltd. approved an interim dividend of RMB0.40 (tax inclusive) per Share for the six months ended 30 June 2024 (the "Interim Dividend") to the H Shareholders whose names appear on the register of members of the Company as on 27 September 2024. In order to determine the H Shareholders who are entitled to the Interim Dividend, the register of members of the Company will be closed from 24 September 2024 to 27 September 2024, both days inclusive, during which period no transfer of H Shares will be registered. To qualify to receive the Interim Dividend, H Shareholders whose transfer of Shares has not been registered must lodge all transfer instruments accompanied by the relevant share certificates with the Company's H Share registrar at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong at or before 4:30 p.m. on 23 September 2024. Upcoming Dividend • Sep 13
Upcoming dividend of CN¥0.40 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 25 October 2024. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Hong Kong dividend payers (8.7%). Higher than average of industry peers (1.2%). Announcement • Jun 28
Shanghai Haohai Biological Technology Co., Ltd. to Report First Half, 2024 Results on Aug 17, 2024 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 17, 2024 New Risk • Jun 05
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • May 30
Shanghai Haohai Biological Technology Co., Ltd. Announces to Distribute A Final Dividend for the Year Ended 31 December 2023 Shanghai Haohai Biological Technology Co., Ltd. announced that at its AGM held on May 29, 2024, The Company will distribute a final dividend of RMB 1.00 (tax inclusive) per Share for the year ended 31 December 2023 to the H Shareholders whose names appear on the register of members of the Company as on 14 June 2024. Upcoming Dividend • May 30
Upcoming dividend of CN¥1.00 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 19 July 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (1.1%). Reported Earnings • May 01
First quarter 2024 earnings released: EPS: CN¥0.58 (vs CN¥0.60 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.58 (down from CN¥0.60 in 1Q 2023). Revenue: CN¥646.0m (down 1.1% from 1Q 2023). Net income: CN¥97.5m (down 4.9% from 1Q 2023). Profit margin: 15% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Shanghai Haohai Biological Technology Co., Ltd., Annual General Meeting, May 29, 2024 Shanghai Haohai Biological Technology Co., Ltd., Annual General Meeting, May 29, 2024, at 14:00 China Standard Time. Location: 24/F, WenGuang Plaza, No. 1386 Hongqiao Road, Changning District Shanghai China Agenda: To consider and approve the work report of the Board for 2023; to consider and approve the work report of the Supervisory Committee for 2023; to consider and approve the financial report of the Company for 2023; to consider and approve the remuneration plan of the Directors and Supervisors for 2024; to consider and approve the resolution on the appointment of the auditors for the financial report of the Company and the internal control auditor for 2024; to consider and approve the proposal on amending the Articles of Association; to consider and approve 2023 Profit Distribution and Capital Reserve Capitalization plan; and to consider other matters. Announcement • Mar 30
Shanghai Haohai Biological Technology Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Reported Earnings • Feb 24
Full year 2023 earnings released Full year 2023 results: Revenue: CN¥2.65b (up 26% from FY 2022). Net income: CN¥416.1m (up 131% from FY 2022). Profit margin: 16% (up from 8.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 31% growth forecast for the Biotechs industry in Hong Kong. Buy Or Sell Opportunity • Feb 06
Now 28% overvalued Over the last 90 days, the stock has fallen 23% to HK$33.70. The fair value is estimated to be HK$26.25, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 4.7%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Announcement • Jan 30
Shanghai Haohai Biological Technology Co., Ltd. Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Year Ended 31 December 2023 Shanghai Haohai Biological Technology Co., Ltd. provided preliminary unaudited consolidated group earnings guidance for the year ended 31 December 2023. For the year, the group expects to record a net profit attributable to shareholders of the Company of approximately RMB 400,000,000 to RMB 430,000,000, representing an increase of approximately RMB 219,530,300 to RMB 249,530,300, or approximately 121.64% to 138.27%, as compared to that in 2022 (corresponding period in 2022: audited net profit attributable to shareholders of the Company of RMB 180,469,733.31). The net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss is expected to be approximately RMB 367,000,000 to RMB 397,000,000, representing an increase of approximately RMB 208,250,400 to RMB 238,250,400, or approximately 131.18% to 150.08%, as compared to that in 2022 (corresponding period in 2022: audited net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss of RMB 158,749,648.52). Announcement • Dec 01
Shanghai Haohai Biological Technology Co., Ltd. Announces Resignation of Guo Yongqing as Independent Non-Executive Director, Chairman of Audit Committee, Member of Remuneration and Appraisal Committee and Member of Nomination Committee Shanghai Haohai Biological Technology Co., Ltd. announced that according to the requirement that an independent director, in principle, may act as independent director for a maximum of three domestic listed companies under the Measures for the Administration of Independent Directors of Listed Companies promulgated by the China Securities Regulatory Commission on 1 August 2023, in order to fulfill the regulatory requirement as well as considering the personal efforts dedicated to perform his work, Mr. Guo Yongqing has tendered his resignation as an independent non-executive director (INED) of the Fifth Session of the Board and all positions held by him in the special committees under the Board (that is chairman of the Audit Committee, member of the Remuneration and Appraisal Committee and member of the Nomination Committee). The resignation of Mr. Guo Yongqing shall take effect upon the passing of the resolution of election of the new INED at the general meeting. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.71 (vs CN¥0.32 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.71 (up from CN¥0.32 in 3Q 2022). Revenue: CN¥676.1m (up 18% from 3Q 2022). Net income: CN¥121.6m (up 122% from 3Q 2022). Profit margin: 18% (up from 9.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 35% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$38.40, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 28x in the Biotechs industry in Asia. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.17 per share. Announcement • Sep 26
Shanghai Haohai Biological Technology Co., Ltd. Provides Unaudited Consolidated Financial Guidance for the Nine Months Ended 30 September 2023 Shanghai Haohai Biological Technology Co., Ltd. provided unaudited consolidated financial guidance for the nine months ended 30 September 2023. For the period, Group is expected to record an unaudited net profit attributable to shareholders of the Company of approximately RMB 300,000,000 to RMB 330,000,000 during the Reporting Period, representing an increase of approximately RMB 138,250,500 to RMB 168,250,500, or approximately 85.47% to 104.02%, as compared to that in 2022 (corresponding period in 2022: an unaudited net profit attributable to shareholders of the Company of RMB 161,749,504.38). The unaudited net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss is expected to be approximately RMB 278,000,000 to RMB 308,000,000, representing an increase of approximately RMB 137,550,600 to RMB 167,550,600, or approximately 97.94% to 119.30%, as compared to that in 2022 (corresponding period in 2022: unaudited net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss of RMB 140,449,394.19). Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$39.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 29x in the Biotechs industry in Asia. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.28 per share. Announcement • Aug 19
Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) announces an Equity Buyback. Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) announces a share repurchase program. Under the program, the company will repurchase up CNY 200 million worth of its shares. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: CN¥0.73 (vs CN¥0.059 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.73 (up from CN¥0.059 in 2Q 2022). Revenue: CN¥701.6m (up 42% from 2Q 2022). Net income: CN¥124.1m (up CN¥114.0m from 2Q 2022). Profit margin: 18% (up from 2.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 35% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • Aug 03
Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) entered into the equity transfer agreement to acquire 36.3636% stake in OHMK Medical Technology Co. Ltd. from Tianjin Huacan Enterprise Management Consulting Partnership, Shanghai Ermei Enterprise Management Consulting Partnership, Yuan Yibing, Lian Songyong and Chen Guangfei for approximately CNY 150 million. Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) entered into the equity transfer agreement to acquire 36.3636% stake in OHMK (Tianjin) Medical Technology Co., Ltd. from Tianjin Huacan Enterprise Management Consulting Partnership, Shanghai Ermei Enterprise Management Consulting Partnership, Yuan Yibing, Lian Songyong and Chen Guangfei for approximately CNY 150 million on July 31, 2023. Currently, Shanghai Haohai holds 63.6364% in OHMK. As part of the transaction, Shanghai Haohai will acquire 6.6% stake from Yuan Yibing, 11.88% stake from Chen Guangfei, 7.92% stake from Lian Songyong, 6.3636% stake from Shanghai Ermei Enterprise Management Consulting Partnership and 3.6% stake from Tianjin Huacan Enterprise Management Consulting Partnership, post the transfer OHMK (Tianjin) Medical Technology Co., Ltd. will become a wholly owned subsidiary of Shanghai Haohai Biological Technology Co., Ltd. The consideration will be funded by internal resources of the Shanghai Haohai. The unaudited consolidated profit after tax of OHMK for the six months ended June 30, 2023 is CNY 0.04 million. The transaction is conditional on approval of the Acquisition by the registered limited partners of Shanghai Ermei and Tianjin Huacan and the approval of the acquisition by the board of Shanghai Haohai. The completion will be the date on which Shanghai Haohai pays 70% of the consideration, with the remaining consideration to be paid within the next 3 months. Announcement • Jul 23
Shanghai Haohai Biological Technology Co., Ltd. Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2023 Shanghai Haohai Biological Technology Co., Ltd. provided consolidated earnings guidance for the six months ended 30 June 2023. For the period, the company expects to record an unaudited net profit attributable to shareholders of the Company of approximately RMB180,000,000.00 to RMB220,000,000.00 during the Reporting Period, representing an increase of approximately RMB108,970,000.00 to RMB148,970,000.00, or approximately 153.41% to 209.73%, as compared to that in 2022 (corresponding period in 2022: unaudited net profit attributable to shareholders of the Company of RMB71,029,961.51). The unaudited net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss is expected to be approximately RMB162,000,000.00 to RMB202,000,000.00, representing an increase of approximately RMB108,809,400.00 to RMB148,809,400.00, or approximately 204.57% to 279.77%, as compared to that in 2022 (corresponding period in 2022: unaudited net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss of RMB53,190,598.27). Announcement • Jun 28
Shanghai Haohai Biological Technology Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Shanghai Haohai Biological Technology Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Upcoming Dividend • Jun 27
Upcoming dividend of HK$0.44 per share at 1.4% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 11 August 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (1.2%). Announcement • Jun 13
Shanghai Haohai Biological Technology Co., Ltd. Approves Final Dividend for the Year Ended 31 December 2022, Payable on August 11, 2023 Shanghai Haohai Biological Technology Co., Ltd. approved final cash dividend of RMB 0.4 per share for the year ended December 31, 2022. Ex-dividend date is 04 July 2023. Record date is 11 July 2023. Payment date: 11 August 2023. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.47 (vs CN¥0.35 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.47 (up from CN¥0.35 in 1Q 2022). Revenue: CN¥611.3m (up 29% from 1Q 2022). Net income: CN¥81.2m (up 33% from 1Q 2022). Profit margin: 13% (in line with 1Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 35% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: CN¥1.04 (vs CN¥2.00 in FY 2021) Full year 2022 results: EPS: CN¥1.04 (down from CN¥2.00 in FY 2021). Revenue: CN¥2.13b (up 22% from FY 2021). Net income: CN¥180.5m (down 49% from FY 2021). Profit margin: 8.5% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 36% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 28% share price gain to HK$39.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 27x in the Biotechs industry in Asia. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$18.06 per share. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 16% share price gain to HK$30.75, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 27x in the Biotechs industry in Asia. Total loss to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$18.71 per share. Board Change • Nov 16
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, 5 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Director Yongqing Guo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 29
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: CN¥614.8m (up 45% from 3Q 2021). Net income: CN¥90.7m (up 14% from 3Q 2021). Profit margin: 15% (down from 19% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 41% growth forecast for the Biotechs industry in Hong Kong. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment deteriorated over the past week After last week's 20% share price decline to HK$23.20, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 24x in the Biotechs industry in Asia. Total loss to shareholders of 39% over the past three years. Major Estimate Revision • Sep 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from CN¥2.01b to CN¥2.05b. EPS estimate fell from CN¥2.79 to CN¥2.35 per share. Net income forecast to grow 122% next year vs 22% growth forecast for Biotechs industry in Hong Kong. Consensus price target down from HK$67.91 to HK$60.68. Share price fell 7.1% to HK$27.45 over the past week. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.059 (vs CN¥0.76 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.059 (down from CN¥0.76 in 2Q 2021). Revenue: CN¥494.2m (up 5.4% from 2Q 2021). Net income: CN¥10.1m (down 93% from 2Q 2021). Profit margin: 2.0% (down from 29% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 16%, compared to a 1,292% growth forecast for the Biotechs industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Jul 22
Upcoming dividend of HK$0.82 per share Eligible shareholders must have bought the stock before 29 July 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improved over the past week After last week's 16% share price gain to HK$38.55, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 25x in the Biotechs industry in Asia. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$64.26 per share. Reported Earnings • Apr 30
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥2.00 (up from CN¥1.30 in FY 2020). Revenue: CN¥1.75b (up 32% from FY 2020). Net income: CN¥352.2m (up 53% from FY 2020). Profit margin: 20% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Post-clinical trial products Approved (during full year): 1 Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 13%, compared to a 6,778% growth forecast for the pharmaceuticals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Board Change • Apr 27
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, 5 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Director Yingqi Li 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. Reported Earnings • Mar 31
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: CN¥1.77b (up 33% from FY 2020). Net income: CN¥352.5m (up 53% from FY 2020). Profit margin: 20% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 14%, compared to a 310% growth forecast for the pharmaceuticals industry in Hong Kong. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 19% share price gain to HK$37.90, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 28x in the Biotechs industry in Asia. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$23.25 per share. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$34.90, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 28x in the Biotechs industry in Asia. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$23.67 per share. Major Estimate Revision • Mar 06
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥2.16b to CN¥1.92b. EPS estimate fell from CN¥2.97 to CN¥2.91 per share. Net income forecast to grow 32% next year vs 30% growth forecast for Biotechs industry in Hong Kong. Consensus price target down from HK$98.17 to HK$72.05. Share price fell 6.0% to HK$39.90 over the past week. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: CN¥1.77b (up 33% from FY 2020). Net income: CN¥352.5m (up 53% from FY 2020). Profit margin: 20% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 22%, compared to a 186% growth forecast for the pharmaceuticals industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 6% per year.