Major Estimate Revision • May 06
Consensus revenue estimates increase by 20% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥18.5b to CN¥22.1b. EPS estimate increased from CN¥0.45 to CN¥1.09 per share. Net income forecast to grow 227% next year vs 57% growth forecast for Chemicals industry in China. Consensus price target up from CN¥12.60 to CN¥17.35. Share price fell 10% to CN¥12.80 over the past week. Reported Earnings • May 01
First quarter 2026 earnings released: EPS: CN¥0.10 (vs CN¥0.17 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.10 (down from CN¥0.17 in 1Q 2025). Revenue: CN¥4.40b (up 2.4% from 1Q 2025). Net income: CN¥305.5m (down 34% from 1Q 2025). Profit margin: 6.9% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 30
Bluestar Adisseo Company, Annual General Meeting, May 22, 2026 Bluestar Adisseo Company, Annual General Meeting, May 22, 2026, at 14:00 China Standard Time. Location: No. 9, Beitucheng West Road, Chaoyang District, Beijing China New Risk • Apr 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 Chinese stocks, typically moving 8.3% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Duyuru • Mar 30
Bluestar Adisseo Company to Report Q1, 2026 Results on Apr 30, 2026 Bluestar Adisseo Company announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 10
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.43 (down from CN¥0.45 in FY 2024). Revenue: CN¥17.2b (up 11% from FY 2024). Net income: CN¥1.15b (down 4.1% from FY 2024). Profit margin: 6.7% (down from 7.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 06
Price target increased by 8.0% to CN¥11.45 Up from CN¥10.60, the current price target is an average from 2 analysts. New target price is 15% below last closing price of CN¥13.50. Stock is up 26% over the past year. The company is forecast to post earnings per share of CN¥0.49 for next year compared to CN¥0.45 last year. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥11.66, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 28x in the Chemicals industry in China. Total returns to shareholders of 35% over the past three years. Upcoming Dividend • Feb 20
Upcoming dividend of CN¥0.051 per share Eligible shareholders must have bought the stock before 27 February 2026. Payment date: 27 February 2026. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.7%. Lower than top quartile of Chinese dividend payers (1.8%). Higher than average of industry peers (1.2%). Duyuru • Dec 26
Bluestar Adisseo Company to Report Fiscal Year 2025 Results on Mar 07, 2026 Bluestar Adisseo Company announced that they will report fiscal year 2025 results on Mar 07, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: CN¥0.094 (down from CN¥0.14 in 3Q 2024). Revenue: CN¥4.42b (up 7.4% from 3Q 2024). Net income: CN¥250.2m (down 37% from 3Q 2024). Profit margin: 5.7% (down from 9.6% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) missed analyst estimates by 45%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 30
Bluestar Adisseo Company to Report Q3, 2025 Results on Oct 31, 2025 Bluestar Adisseo Company announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Sep 04
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥0.11 (down from CN¥0.13 in 2Q 2024). Revenue: CN¥4.21b (up 12% from 2Q 2024). Net income: CN¥275.4m (down 17% from 2Q 2024). Profit margin: 6.5% (down from 8.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Jun 30
Bluestar Adisseo Company to Report First Half, 2025 Results on Aug 30, 2025 Bluestar Adisseo Company announced that they will report first half, 2025 results on Aug 30, 2025 Major Estimate Revision • Jun 07
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥16.6b to CN¥16.1b. EPS estimate also fell from CN¥0.61 per share to CN¥0.48 per share. Net income forecast to shrink 1.4% next year vs 43% growth forecast for Chemicals industry in China . Consensus price target of CN¥11.45 unchanged from last update. Share price was steady at CN¥9.61 over the past week. Reported Earnings • May 01
First quarter 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.10 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.17 (up from CN¥0.10 in 1Q 2024). Revenue: CN¥4.30b (up 23% from 1Q 2024). Net income: CN¥464.8m (up 68% from 1Q 2024). Profit margin: 11% (up from 7.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Duyuru • Mar 28
Bluestar Adisseo Company to Report Q1, 2025 Results on Apr 29, 2025 Bluestar Adisseo Company announced that they will report Q1, 2025 results on Apr 29, 2025 Major Estimate Revision • Mar 01
Consensus EPS estimates increase by 16%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from CN¥16.4b to CN¥15.8b. EPS estimate rose from CN¥0.529 to CN¥0.614. Net income forecast to grow 42% next year vs 52% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥11.61. Share price fell 6.0% to CN¥10.34 over the past week. Duyuru • Feb 28
Bluestar Adisseo Company, Annual General Meeting, Mar 24, 2025 Bluestar Adisseo Company, Annual General Meeting, Mar 24, 2025, at 14:00 China Standard Time. Location: No. 9, Beitucheng West Road, Chaoyang District, Beijing China Duyuru • Dec 27
Bluestar Adisseo Company to Report Fiscal Year 2024 Results on Feb 28, 2025 Bluestar Adisseo Company announced that they will report fiscal year 2024 results on Feb 28, 2025 Major Estimate Revision • Nov 22
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥15.4b to CN¥15.2b. EPS estimate also fell from CN¥0.473 per share to CN¥0.411 per share. Net income forecast to grow 14% next year vs 53% growth forecast for Chemicals industry in China. Consensus price target of CN¥11.43 unchanged from last update. Share price fell 3.2% to CN¥10.78 over the past week. Reported Earnings • Oct 30
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CN¥0.14 (up from CN¥0.014 loss in 3Q 2023). Revenue: CN¥4.11b (up 25% from 3Q 2023). Net income: CN¥395.7m (up CN¥463.5m from 3Q 2023). Profit margin: 9.6% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 4.0%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Duyuru • Sep 30
Bluestar Adisseo Company to Report Q3, 2024 Results on Oct 30, 2024 Bluestar Adisseo Company announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥11.29, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 1.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.84 per share. Reported Earnings • Sep 04
Second quarter 2024 earnings: EPS in line with expectations, revenues disappoint Second quarter 2024 results: EPS: CN¥0.13 (up from CN¥0.011 in 2Q 2023). Revenue: CN¥3.77b (up 19% from 2Q 2023). Net income: CN¥330.7m (up CN¥298.8m from 2Q 2023). Profit margin: 8.8% (up from 1.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 31
Price target increased by 12% to CN¥11.23 Up from CN¥10.01, the current price target is an average from 3 analysts. New target price is 9.9% above last closing price of CN¥10.22. Stock is up 26% over the past year. The company is forecast to post earnings per share of CN¥0.45 for next year compared to CN¥0.019 last year. Duyuru • Jun 28
Bluestar Adisseo Company to Report First Half, 2024 Results on Aug 30, 2024 Bluestar Adisseo Company announced that they will report first half, 2024 results on Aug 30, 2024 Duyuru • Jun 08
Bluestar Adisseo Company, Annual General Meeting, Jun 26, 2024 Bluestar Adisseo Company, Annual General Meeting, Jun 26, 2024, at 14:00 China Standard Time. Location: No. 9, Beitucheng West Road, Chaoyang District, Beijing China Reported Earnings • Apr 27
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: EPS: CN¥0.10 (up from CN¥0.001 in 1Q 2023). Revenue: CN¥3.50b (up 11% from 1Q 2023). Net income: CN¥276.9m (up CN¥275.4m from 1Q 2023). Profit margin: 7.9% (up from 0% in 1Q 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 35%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Duyuru • Apr 27
Bluestar Adisseo Company announced that it expects to receive CNY 3 billion in funding Bluestar Adisseo Company announced a private placement of not more than 804,570,381 shares for the gross proceeds of not more than CNY 3,000,000,000 on April 25, 2024. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors. The transaction has been approved by the shareholders of the company in the 18th meeting of the 8th board of directors and the 12th meeting of the 8th board of supervisors. The transaction is subject to to review and approval by the listed company’s general meeting of shareholders; by the Shanghai Stock Exchange and approval by the China Securities Regulatory Commission for registration. Reported Earnings • Mar 31
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.02 (down from CN¥0.47 in FY 2022). Revenue: CN¥13.2b (down 9.3% from FY 2022). Net income: CN¥52.2m (down 96% from FY 2022). Profit margin: 0.4% (down from 8.6% in FY 2022). Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) also missed analyst estimates by 68%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Duyuru • Mar 29
Bluestar Adisseo Company to Report Q1, 2024 Results on Apr 26, 2024 Bluestar Adisseo Company announced that they will report Q1, 2024 results on Apr 26, 2024 Major Estimate Revision • Mar 08
Consensus EPS estimates increase by 21% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from CN¥0.069 to CN¥0.084. Revenue forecast steady at CN¥14.3b. Net income forecast to grow 959% next year vs 59% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥9.88. Share price fell 2.1% to CN¥8.46 over the past week. Duyuru • Dec 29
Bluestar Adisseo Company to Report Fiscal Year 2023 Results on Mar 29, 2024 Bluestar Adisseo Company announced that they will report fiscal year 2023 results on Mar 29, 2024 Major Estimate Revision • Nov 14
Consensus EPS estimates increase by 10%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥15.0b to CN¥14.7b. EPS estimate rose from CN¥0.134 to CN¥0.147. Net income forecast to grow 1,037% next year vs 70% growth forecast for Chemicals industry in China. Consensus price target broadly unchanged at CN¥9.81. Share price was steady at CN¥7.76 over the past week. Reported Earnings • Nov 01
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: CN¥0.014 loss per share (down from CN¥0.10 profit in 3Q 2022). Revenue: CN¥3.29b (down 8.8% from 3Q 2022). Net loss: CN¥67.8m (down 125% from profit in 3Q 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Aug 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: Minor Risks Dividend is not well covered by earnings (111% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.0% net profit margin). Reported Earnings • Aug 05
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.008 (down from CN¥0.16 in 2Q 2022). Revenue: CN¥3.18b (down 15% from 2Q 2022). Net income: CN¥31.9m (down 93% from 2Q 2022). Profit margin: 1.0% (down from 12% in 2Q 2022). Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 94%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Duyuru • Jun 28
Bluestar Adisseo Company to Report First Half, 2023 Results on Aug 05, 2023 Bluestar Adisseo Company announced that they will report first half, 2023 results on Aug 05, 2023 Major Estimate Revision • Jun 01
Consensus revenue estimates decrease by 17% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥15.3b to CN¥12.8b. EPS estimate unchanged from CN¥0.58 per share at last update. Chemicals industry in China expected to see average net income growth of 47% next year. Consensus price target down from CN¥11.84 to CN¥10.42. Share price was steady at CN¥7.96 over the past week. Reported Earnings • Apr 28
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: CN¥0.001 (down from CN¥0.16 in 1Q 2022). Revenue: CN¥3.15b (down 8.8% from 1Q 2022). Net income: CN¥1.49m (down 100% from 1Q 2022). Profit margin: 0% (down from 12% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 06
Price target decreased by 7.6% to CN¥11.84 Down from CN¥12.81, the current price target is an average from 4 analysts. New target price is 27% above last closing price of CN¥9.29. Stock is down 4.0% over the past year. The company is forecast to post earnings per share of CN¥0.55 for next year compared to CN¥0.55 last year. 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 Director Caroline Sainte-Marie was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from CN¥0.61 to CN¥0.54. Revenue forecast unchanged from CN¥14.8b at last update. Net income forecast to grow 43% next year vs 44% growth forecast for Chemicals industry in China. Consensus price target of CN¥12.76 unchanged from last update. Share price fell 8.9% to CN¥8.73 over the past week. Reported Earnings • Oct 28
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: CN¥0.10 (down from CN¥0.17 in 3Q 2021). Revenue: CN¥3.60b (up 7.2% from 3Q 2021). Net income: CN¥274.2m (down 37% from 3Q 2021). Profit margin: 7.6% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥10.76, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Chemicals industry in China. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.70 per share. Price Target Changed • Aug 18
Price target decreased to CN¥12.76 Down from CN¥14.22, the current price target is an average from 5 analysts. New target price is 35% above last closing price of CN¥9.46. Stock is down 13% over the past year. The company is forecast to post earnings per share of CN¥0.57 for next year compared to CN¥0.55 last year. Major Estimate Revision • Aug 04
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥15.3b to CN¥14.2b. EPS estimate also fell from CN¥0.73 per share to CN¥0.57 per share. Net income forecast to grow 33% next year vs 41% growth forecast for Chemicals industry in China. Consensus price target down from CN¥14.53 to CN¥14.13. Share price fell 5.6% to CN¥9.18 over the past week. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.16 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.16 (down from CN¥0.16 in 2Q 2021). Revenue: CN¥3.74b (up 25% from 2Q 2021). Net income: CN¥442.1m (down 1.6% from 2Q 2021). Profit margin: 12% (down from 15% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.5%, compared to a 42% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 24
Price target decreased to CN¥13.40 Down from CN¥15.11, the current price target is an average from 3 analysts. New target price is 38% above last closing price of CN¥9.70. Stock is down 22% over the past year. The company is forecast to post earnings per share of CN¥0.72 for next year compared to CN¥0.55 last year. Duyuru • May 07
Bluestar Adisseo Company, Annual General Meeting, May 16, 2022 Bluestar Adisseo Company, Annual General Meeting, May 16, 2022, at 14:30 China Standard Time. Location: Bluestar Building, 9 Beituchengxi Road, Chaoyang District, Beijing Bejing China Agenda: To consider 2022 annual report and executive summary; to consider 2022 annual final accounts; to consider Board's report for FY 2022; to consider Board of Supervisors' report for FY 2022; and to consider other matters. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS in line with expectations, revenues disappoint First quarter 2022 results: EPS: CN¥0.16 (up from CN¥0.14 in 1Q 2021). Revenue: CN¥3.46b (up 16% from 1Q 2021). Net income: CN¥427.4m (up 16% from 1Q 2021). Profit margin: 12% (in line with 1Q 2021). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 42% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. 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 Director Caroline Sainte-Marie was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 19
Bluestar Adisseo Company, Annual General Meeting, Apr 29, 2022 Bluestar Adisseo Company, Annual General Meeting, Apr 29, 2022, at 14:30 China Standard Time. Location: Meeting room in Bluestar Building, 9 Beituchengxi Road, Chaoyang District, Beijing China Agenda: To consider 2021 annual report and executive summary; to consider 2021 annual final accounts; to consider Board's report for FY 2021; to consider Board of Supervisors' report for FY 2021; and to consider other matters. Reported Earnings • Apr 03
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CN¥0.55 (up from CN¥0.50 in FY 2020). Revenue: CN¥12.9b (up 8.0% from FY 2020). Net income: CN¥1.47b (up 8.9% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 18%, compared to a 48% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥10.78, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Chemicals industry in China. Total loss to shareholders of 5.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥7.95 per share. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS CN¥0.17 (vs CN¥0.14 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: CN¥3.36b (up 12% from 3Q 2020). Net income: CN¥434.3m (up 15% from 3Q 2020). Profit margin: 13% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Nov 01
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Caroline Sainte-Marie was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Aug 04
Price target decreased to CN¥15.11 Down from CN¥16.46, the current price target is an average from 6 analysts. New target price is 38% above last closing price of CN¥10.92. Stock is down 32% over the past year. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS CN¥0.16 (vs CN¥0.16 in 2Q 2020) The company reported a mediocre second quarter result with weaker revenues, although profit margins were flat and earnings improved. Second quarter 2021 results: Revenue: CN¥2.99b (down 1.6% from 2Q 2020). Net income: CN¥449.1m (up 5.8% from 2Q 2020). Profit margin: 15% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.99b (up 5.0% from 1Q 2020). Net income: CN¥367.3m (up 25% from 1Q 2020). Profit margin: 12% (up from 10% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS CN¥0.50 (vs CN¥0.37 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥11.9b (up 7.0% from FY 2019). Net income: CN¥1.35b (up 36% from FY 2019). Profit margin: 11% (up from 8.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Is New 90 Day High Low • Feb 19
New 90-day high: CN¥14.80 The company is up 5.0% from its price of CN¥14.13 on 20 November 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 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥14.08 per share. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥13.12, the stock is trading at a trailing P/E ratio of 27.3x, up from the previous P/E ratio of 23.6x. This compares to an average P/E of 37x in the Chemicals industry in China. Total returns to shareholders over the past three years are 16%. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥11.07 The company is down 18% from its price of CN¥13.44 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥14.06 per share. Is New 90 Day High Low • Dec 23
New 90-day low: CN¥11.88 The company is down 8.0% from its price of CN¥12.92 on 24 September 2020. The Chinese market is up 2.0% 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. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥14.12 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.28b, up 24% from the prior year. Total revenue was CN¥11.7b over the last 12 months, up 4.5% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 3.9% at CN¥3.00b. Revenue is forecast to grow 14% over the next year, compared to a 32% growth forecast for the Chemicals industry in China. Duyuru • Oct 27
Bluestar Adisseo Company to Report Q3, 2020 Results on Oct 30, 2020 Bluestar Adisseo Company announced that they will report Q3, 2020 results on Oct 30, 2020 Is New 90 Day High Low • Oct 22
New 90-day low: CN¥12.50 The company is down 4.0% from its price of CN¥13.00 on 24 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.91 per share. Duyuru • Sep 09
Bluestar Adisseo Company (SHSE:600299) signed an agreement to acquire FraMelco B.V. from a family. Bluestar Adisseo Company (SHSE:600299) signed an agreement to acquire FraMelco B.V. from a family on September 7, 2020. FraMelco business generates gross sales of about €30 million per year. Duyuru • Jul 30
Bluestar Adisseo Company (SHSE:600299) completed the acquisition remaining 15% stake in Blue Star Adisseo Nutrition Group Co., Ltd. from China National BlueStar (Group) Co., Ltd. Bluestar Adisseo Company (SHSE:600299) entered into an agreement to acquire remaining 15% stake in Blue Star Adisseo Nutrition Group Co., Ltd. from China National BlueStar (Group) Co., Ltd. for CNY 3.6 billion on January 16, 2019. The consideration will be paid in two installments with first installment of 50% of consideration within five working days from first delivery date and remaining within five working days from second delivery date. The final consideration to be paid in cash will be decided after the asset assessment results. Bluestar Adisseo Company (SHSE:600299) signed a revised equity transfer agreement to acquire remaining 15% stake in Blue Star Adisseo Nutrition Group Co., Ltd. from China National BlueStar (Group) Co., Ltd. for CNY 3.1 billion on October 23, 2019. Transactional price has been momentarily set in CNY 3.086 billion. Pre deal, Bluestar Adisseo Company held 85% stake and post completion, it will hold 100% stake in Blue Star Adisseo Nutrition Group Co., Ltd. Post completion, Blue Star Adisseo Nutrition Group Co., Ltd. Will operate as a subsidiary.
For the year ended December 31, 2018, Blue Star Adisseo Nutrition Group Co., Ltd. has total assets of CNY 18.74 billion, operating revenue of CNY 11.42 billion and net profit of CNY 1.17 billion. The deal is subject to obtaining funding for the payment. The transaction is subject to shareholders’ approval of Bluestar Adisseo Company in meeting due on February 1, 2019. The transaction has been approved by the 3rd meeting of the 7th directorate of Bluestar Adisseo Company on January 16, 2019. The deal is disapproved by the shareholders in meeting on August 8, 2019. The deal was unanimously approved by the Board of Directors of Bluestar Adisseo Company in the eight meeting of 7th directorate on October 23, 2019. The deal has been approved by the shareholder owning preference shares of Blue Star Adisseo Nutrition Group Co., Ltd. on October 23, 2019.
Bluestar Adisseo Company (SHSE:600299) completed the acquisition remaining 15% stake in Blue Star Adisseo Nutrition Group Co., Ltd. from China National BlueStar (Group) Co., Ltd on April 28, 2020. 