Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥28.30, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 79% over the past three years. Tillkännagivande • Jun 30
Shandong Dawn Polymer Co.,Ltd. to Report First Half, 2026 Results on Aug 26, 2026 Shandong Dawn Polymer Co.,Ltd. announced that they will report first half, 2026 results on Aug 26, 2026 Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥35.32, the stock trades at a trailing P/E ratio of 63.4x. Average trailing P/E is 48x in the Chemicals industry in China. Total returns to shareholders of 109% over the past three years. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Yimin Wang was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Dec 31
Shandong Dawn Polymer Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Shandong Dawn Polymer Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 Tillkännagivande • Sep 30
Shandong Dawn Polymer Co.,Ltd. to Report Q3, 2025 Results on Oct 24, 2025 Shandong Dawn Polymer Co.,Ltd. announced that they will report Q3, 2025 results on Oct 24, 2025 Tillkännagivande • Jul 02
Shandong Dawn Polymer Co.,Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Shandong Dawn Polymer Co.,Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Tillkännagivande • Apr 10
Shandong Dawn Polymer Co.,Ltd. Approves Final Dividend for 2024 Shandong Dawn Polymer Co.,Ltd. at its Annual General Meeting held on 08 April 2025 approved final cash dividend of CNY 0.65000000 per 10 shares (tax included) for 2024. Tillkännagivande • Mar 31
Shandong Dawn Polymer Co.,Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Shandong Dawn Polymer Co.,Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Tillkännagivande • Mar 13
Shandong Dawn Polymer Co.,Ltd. Proposes Final Cash Dividend for the Year 2024 Shandong Dawn Polymer Co.,Ltd. announced on 12 March 2025 the profit distribution proposal for 2024 as follows: final Cash dividend/10 shares (tax included)of CNY 0.65. Tillkännagivande • Mar 12
Shandong Dawn Polymer Co.,Ltd., Annual General Meeting, Apr 08, 2025 Shandong Dawn Polymer Co.,Ltd., Annual General Meeting, Apr 08, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Longkou, Shandong China Tillkännagivande • Jan 07
Shandong Dawn Polymer Co.,Ltd. Approves Cash Dividend for the Third Quarter of 2024 Shandong Dawn Polymer Co.,Ltd. announced that at its EGM held on 3 January 2025, the shareholders approved 2024 third quarter profit distribution plan: Cash dividend/10 shares (tax included) of CNY 0.35000000. Tillkännagivande • Dec 31
Shandong Dawn Polymer Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025 Shandong Dawn Polymer Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025 Tillkännagivande • Nov 28
Shandong Dawn Polymer Co.,Ltd. (SZSE:002838) signed a letter of intent to acquire Shandong Dawn Titanium Industry Co., Ltd. Shandong Dawn Polymer Co.,Ltd. (SZSE:002838) signed a letter of intent to acquire Shandong Dawn Titanium Industry Co., Ltd. on November 12, 2024. As of September 30, 2024, Shandong Dawn Titanium Industry Co., Ltd. reported total assets of CNY 1.13 billion and total common equity of CNY 597.9 million. Tillkännagivande • Oct 26
Shandong Dawn Polymer Co.,Ltd. Proposes Cash Dividend for the Third Quarter of 2024 Shandong Dawn Polymer Co.,Ltd. proposed cash dividend of CNY 0.35 per 10 shares for the third quarter of 2024. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.07 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.07 (in line with 3Q 2023). Revenue: CN¥1.45b (up 29% from 3Q 2023). Net income: CN¥31.4m (down 3.6% from 3Q 2023). Profit margin: 2.2% (down from 2.9% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥11.77, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 34x in the Chemicals industry in China. Total loss to shareholders of 17% over the past three years. Tillkännagivande • Sep 30
Shandong Dawn Polymer Co.,Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Shandong Dawn Polymer Co.,Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥9.99, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 29x in the Chemicals industry in China. Total loss to shareholders of 33% over the past three years. New Risk • Sep 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.07 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.07 (in line with 2Q 2023). Revenue: CN¥1.12b (down 6.0% from 2Q 2023). Net income: CN¥31.5m (up 2.8% from 2Q 2023). Profit margin: 2.8% (up from 2.6% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jun 29
Shandong Dawn Polymer Co.,Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Shandong Dawn Polymer Co.,Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Declared Dividend • Jun 24
Dividend reduced to CN¥0.065 Dividend of CN¥0.065 is 7.1% lower than last year. Ex-date: 28th June 2024 Payment date: 28th June 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.2% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Board Change • May 18
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Yimin Wang was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • May 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.08 (vs CN¥0.08 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.08 (in line with 1Q 2023). Revenue: CN¥1.21b (up 15% from 1Q 2023). Net income: CN¥35.3m (up 2.0% from 1Q 2023). Profit margin: 2.9% (down from 3.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 02
Shandong Dawn Polymer Co.,Ltd., Annual General Meeting, May 07, 2024 Shandong Dawn Polymer Co.,Ltd., Annual General Meeting, May 07, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Longkou, Shandong China Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: CN¥0.31 (vs CN¥0.36 in FY 2022) Full year 2023 results: EPS: CN¥0.31 (down from CN¥0.36 in FY 2022). Revenue: CN¥4.54b (flat on FY 2022). Net income: CN¥140.0m (down 8.1% from FY 2022). Profit margin: 3.1% (down from 3.4% in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 30
Shandong Dawn Polymer Co.,Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Shandong Dawn Polymer Co.,Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥9.50, the stock trades at a trailing P/E ratio of 33.7x. Average trailing P/E is 28x in the Chemicals industry in China. Total loss to shareholders of 56% over the past three years. Tillkännagivande • Dec 30
Shandong Dawn Polymer Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 02, 2024 Shandong Dawn Polymer Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 02, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.072 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.07. Revenue: CN¥1.12b (up 7.1% from 3Q 2022). Net income: CN¥32.6m (up 4.4% from 3Q 2022). Profit margin: 2.9% (in line with 3Q 2022). New Risk • Sep 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.07 (vs CN¥0.10 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.07 (down from CN¥0.10 in 2Q 2022). Revenue: CN¥1.19b (up 11% from 2Q 2022). Net income: CN¥30.6m (down 26% from 2Q 2022). Profit margin: 2.6% (down from 3.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jun 13
Shandong Dawn Polymer Co.,Ltd. Announces Final Cash Dividend on A Shares for the Year 2022, Payable on June 16, 2023 Shandong Dawn Polymer Co.,Ltd. announced final cash dividend of CNY 0.70 per 10 shares on A shares for the year 2022. Record date is June 15, 2023, Ex-Date is June 16, 2023 and Payment Date is June 16, 2023. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.36 (vs CN¥0.56 in FY 2021) Full year 2022 results: EPS: CN¥0.36 (down from CN¥0.56 in FY 2021). Revenue: CN¥4.53b (up 6.2% from FY 2021). Net income: CN¥152.3m (down 33% from FY 2021). Profit margin: 3.4% (down from 5.3% in FY 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥24.66, the stock trades at a trailing P/E ratio of 55x. Average trailing P/E is 29x in the Chemicals industry in China. Total returns to shareholders of 41% over the past year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Deputy General Manager Zhao Liang was the last director to join the board, commencing their role in 2013. 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 • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.072 (vs CN¥0.099 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.072 (down from CN¥0.099 in 3Q 2021). Revenue: CN¥1.05b (up 6.1% from 3Q 2021). Net income: CN¥31.2m (down 20% from 3Q 2021). Profit margin: 3.0% (down from 4.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥26.94, the stock trades at a trailing P/E ratio of 53.2x. Average trailing P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 57% over the past year. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥22.15, the stock trades at a trailing P/E ratio of 43.8x. Average trailing P/E is 27x in the Chemicals industry in China. Total returns to shareholders of 22% over the past year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 3 independent directors (7 non-independent directors). Deputy General Manager Zhao Liang was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥15.08, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 33x in the Chemicals industry in China. Total loss to shareholders of 44% over the past year. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.099 (vs CN¥0.48 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥990.6m (down 4.0% from 3Q 2020). Net income: CN¥39.2m (down 80% from 3Q 2020). Profit margin: 4.0% (down from 19% in 3Q 2020). Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥17.95, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 30x in the Chemicals industry in China. Total loss to shareholders of 46% over the past year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥2.11 (vs CN¥0.41 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥4.42b (up 62% from FY 2019). Net income: CN¥855.1m (up 414% from FY 2019). Profit margin: 19% (up from 6.1% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Mar 10
New 90-day low: CN¥21.38 The company is down 9.0% from its price of CN¥23.52 on 10 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 6.0% over the same period. Is New 90 Day High Low • Feb 06
New 90-day low: CN¥22.16 The company is down 18% from its price of CN¥27.13 on 06 November 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥23.48, the stock is trading at a trailing P/E ratio of 11.5x, down from the previous P/E ratio of 13.9x. This compares to an average P/E of 35x in the Chemicals industry in China. Is New 90 Day High Low • Nov 18
New 90-day low: CN¥25.10 The company is down 14% from its price of CN¥29.28 on 20 August 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 01
New 90-day low: CN¥27.20 The company is down 21% from its price of CN¥34.52 on 03 August 2020. The Chinese market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is flat over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥819.2m, up 407% from the prior year. Total revenue was CN¥4.05b over the last 12 months, up 58% from the prior year. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥27.87 The company is down 5.0% from its price of CN¥29.19 on 30 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 17% over the same period. 
