Tillkännagivande • Jun 30
Zhejiang Oceanking Development Co., Ltd. to Report First Half, 2026 Results on Aug 31, 2026 Zhejiang Oceanking Development Co., Ltd. announced that they will report first half, 2026 results on Aug 31, 2026 Declared Dividend • May 20
Dividend of CN¥0.25 announced Shareholders will receive a dividend of CN¥0.25. Ex-date: 25th May 2026 Payment date: 25th May 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (152% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 69% to bring the payout ratio under control. However, EPS has declined by 18% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.44 in FY 2024) Full year 2025 results: EPS: CN¥0.17 (down from CN¥0.44 in FY 2024). Revenue: CN¥2.63b (down 9.5% from FY 2024). Net income: CN¥75.6m (down 60% from FY 2024). Profit margin: 2.9% (down from 6.6% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Tillkännagivande • Apr 16
Zhejiang Oceanking Development Co., Ltd., Annual General Meeting, May 06, 2026 Zhejiang Oceanking Development Co., Ltd., Annual General Meeting, May 06, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Tillkännagivande • Mar 30
Zhejiang Oceanking Development Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Zhejiang Oceanking Development Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Tillkännagivande • Dec 26
Zhejiang Oceanking Development Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Zhejiang Oceanking Development Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0 (vs CN¥0.092 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0 (down from CN¥0.092 in 3Q 2024). Revenue: CN¥636.8m (down 27% from 3Q 2024). Net income: CN¥49.2k (down 100% from 3Q 2024). Profit margin: 0% (down from 4.9% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Tillkännagivande • Sep 30
Zhejiang Oceanking Development Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Zhejiang Oceanking Development Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Board Change • Sep 03
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. 5 non-independent directors. Independent Director Jianyi Wu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Aug 20
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 Chinese stocks, typically moving 6.6% 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 Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (5.8% net profit margin). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥15.20, the stock trades at a trailing P/E ratio of 37.5x. Average trailing P/E is 40x in the Chemicals industry in China. Total returns to shareholders of 11% over the past three years. Tillkännagivande • Jun 30
Zhejiang Oceanking Development Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Zhejiang Oceanking Development Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • May 23
Dividend reduced to CN¥0.27 Dividend of CN¥0.27 is 6.0% lower than last year. Ex-date: 28th May 2025 Payment date: 28th May 2025 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. New Risk • Apr 21
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.6% net profit margin). New Risk • Apr 19
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 18
Full year 2024 earnings released: EPS: CN¥0.44 (vs CN¥0.57 in FY 2023) Full year 2024 results: EPS: CN¥0.44 (down from CN¥0.57 in FY 2023). Revenue: CN¥2.90b (up 37% from FY 2023). Net income: CN¥191.1m (down 23% from FY 2023). Profit margin: 6.6% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 18
Zhejiang Oceanking Development Co., Ltd., Annual General Meeting, May 09, 2025 Zhejiang Oceanking Development Co., Ltd., Annual General Meeting, May 09, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥8.45, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 33x in the Chemicals industry in China. Total loss to shareholders of 41% over the past three years. Tillkännagivande • Mar 28
Zhejiang Oceanking Development Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Zhejiang Oceanking Development Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Tillkännagivande • Dec 27
Zhejiang Oceanking Development Co., Ltd. to Report Fiscal Year 2024 Results on Apr 18, 2025 Zhejiang Oceanking Development Co., Ltd. announced that they will report fiscal year 2024 results on Apr 18, 2025 Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥8.95, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 36x in the Chemicals industry in China. Total loss to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥10.85, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 36x in the Chemicals industry in China. Total loss to shareholders of 35% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.092 (vs CN¥0.16 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.092 (down from CN¥0.16 in 3Q 2023). Revenue: CN¥869.1m (up 61% from 3Q 2023). Net income: CN¥42.5m (down 36% from 3Q 2023). Profit margin: 4.9% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Tillkännagivande • Sep 30
Zhejiang Oceanking Development Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Zhejiang Oceanking Development Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥8.88, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 16% over the past year. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.15 (vs CN¥0.068 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.15 (up from CN¥0.068 in 2Q 2023). Revenue: CN¥749.8m (up 49% from 2Q 2023). Net income: CN¥61.7m (up 111% from 2Q 2023). Profit margin: 8.2% (up from 5.8% in 2Q 2023). The increase in margin was driven by higher revenue. Tillkännagivande • Jun 29
Zhejiang Oceanking Development Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Zhejiang Oceanking Development Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Reported Earnings • Apr 29
First quarter 2024 earnings released: EPS: CN¥0.10 (vs CN¥0.13 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.10 (down from CN¥0.13 in 1Q 2023). Revenue: CN¥393.3m (down 20% from 1Q 2023). Net income: CN¥45.2m (down 23% from 1Q 2023). Profit margin: 12% (in line with 1Q 2023). Tillkännagivande • Apr 12
Zhejiang Oceanking Development Co., Ltd., Annual General Meeting, May 07, 2024 Zhejiang Oceanking Development Co., Ltd., Annual General Meeting, May 07, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Ningbo, Zhejiang China Reported Earnings • Apr 12
Full year 2023 earnings released: EPS: CN¥0.57 (vs CN¥0.87 in FY 2022) Full year 2023 results: EPS: CN¥0.57 (down from CN¥0.87 in FY 2022). Revenue: CN¥2.11b (down 18% from FY 2022). Net income: CN¥248.8m (down 34% from FY 2022). Profit margin: 12% (down from 15% in FY 2022). The decrease in margin was driven by lower revenue. Tillkännagivande • Mar 29
Zhejiang Oceanking Development Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Zhejiang Oceanking Development Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Buy Or Sell Opportunity • Feb 22
Now 22% overvalued Over the last 90 days, the stock has fallen 26% to CN¥8.48. The fair value is estimated to be CN¥6.95, 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, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to CN¥8.18, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 46% over the past year. New Risk • Jan 18
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 Chinese stocks, typically moving 6.5% 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 Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.5% average weekly change). Profit margins are more than 30% lower than last year (10% net profit margin). Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥12.79, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 34x in the Chemicals industry in China. Total loss to shareholders of 11% over the past year. Tillkännagivande • Dec 29
Zhejiang Oceanking Development Co., Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2024 Zhejiang Oceanking Development Co., Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.16 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.16. Revenue: CN¥541.1m (down 13% from 3Q 2022). Net income: CN¥66.7m (down 5.9% from 3Q 2022). Profit margin: 12% (in line with 3Q 2022). Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.068 (vs CN¥0.33 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.068 (down from CN¥0.33 in 2Q 2022). Revenue: CN¥502.1m (down 33% from 2Q 2022). Net income: CN¥29.3m (down 80% from 2Q 2022). Profit margin: 5.8% (down from 19% in 2Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Apr 24
Full year 2022 earnings released: EPS: CN¥0.87 (vs CN¥1.32 in FY 2021) Full year 2022 results: EPS: CN¥0.87 (down from CN¥1.32 in FY 2021). Revenue: CN¥2.56b (up 25% from FY 2021). Net income: CN¥379.4m (down 24% from FY 2021). Profit margin: 15% (down from 24% in FY 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥16.18, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 19% over the past year. Board Change • Nov 16
High number of new directors Independent Director Jianyi Wu was the last director to join the board, commencing their role in 2020. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.24 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.16 (down from CN¥0.24 in 3Q 2021). Revenue: CN¥621.0m (up 26% from 3Q 2021). Net income: CN¥70.9m (down 22% from 3Q 2021). Profit margin: 11% (down from 18% in 3Q 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.33 (vs CN¥0.15 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.33 (up from CN¥0.15 in 2Q 2021). Revenue: CN¥748.2m (up 120% from 2Q 2021). Net income: CN¥142.5m (up 152% from 2Q 2021). Profit margin: 19% (up from 17% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 16% compared to a 41% growth forecast for the Chemicals industry in China. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.24 (up from CN¥0.15 in 1Q 2021). Revenue: CN¥618.6m (up 82% from 1Q 2021). Net income: CN¥103.9m (up 84% from 1Q 2021). Profit margin: 17% (in line with 1Q 2021). Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Over the next year, revenue is expected to shrink by 8.2% compared to a 43% growth forecast for the industry in China. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥20.70, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 32x in the Chemicals industry in China. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥22.28, the stock trades at a trailing P/E ratio of 30x. Average trailing P/E is 34x in the Chemicals industry in China. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥22.45, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 33x in the Chemicals industry in China.