Major Estimate Revision • Apr 28
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥29.6b to CN¥28.4b. EPS estimate also fell from CN¥1.23 per share to CN¥0.822 per share. Net income forecast to grow 2.4% next year vs 53% growth forecast for Chemicals industry in China. Consensus price target down from CN¥13.87 to CN¥13.05. Share price fell 7.7% to CN¥10.12 over the past week. New Risk • Apr 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 67% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 22
First quarter 2026 earnings released: EPS: CN¥0.04 (vs CN¥0.36 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.04 (down from CN¥0.36 in 1Q 2025). Revenue: CN¥5.99b (down 4.5% from 1Q 2025). Net income: CN¥117.9m (down 88% from 1Q 2025). Profit margin: 2.0% (down from 16% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 19% 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 fallen by 3% per year whereas the company’s share price has increased by 2% per year. Duyuru • Apr 22
MeiHua Holdings Group Co.,Ltd, Annual General Meeting, May 28, 2026 MeiHua Holdings Group Co.,Ltd, Annual General Meeting, May 28, 2026, at 14:00 China Standard Time. Location: No. 66, Huaxiang Road, Economic and Technological Development Area, Langfang, Hebei China Duyuru • Mar 30
MeiHua Holdings Group Co.,Ltd to Report Q1, 2026 Results on Apr 22, 2026 MeiHua Holdings Group Co.,Ltd announced that they will report Q1, 2026 results on Apr 22, 2026 New Risk • Mar 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Duyuru • Dec 31
MeiHua Holdings Group Co.,Ltd (SHSE:600873) announces an Equity Buyback for CNY 50 million worth of its shares. MeiHua Holdings Group Co.,Ltd (SHSE:600873) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at a price not more than CNY 15 per share. The purpose of the program is ESOP or equity incentives. The repurchased shares will be cancelled. The program will be funded from company's own funds. The program will be valid for 12 months. Duyuru • Dec 26
MeiHua Holdings Group Co.,Ltd to Report Fiscal Year 2025 Results on Apr 22, 2026 MeiHua Holdings Group Co.,Ltd announced that they will report fiscal year 2025 results on Apr 22, 2026 New Risk • Oct 31
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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.44 (vs CN¥0.18 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.44 (up from CN¥0.18 in 3Q 2024). Revenue: CN¥5.93b (down 1.7% from 3Q 2024). Net income: CN¥1.26b (up 141% from 3Q 2024). Profit margin: 21% (up from 8.6% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% 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 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Oct 15
Ajinomoto Co. Inc. Files Patent Infringement Suits in China and Japan Regarding Its Manufacturing Process for Monosodium Glutamate Products Ajinomoto Co. Inc. ("Ajinomoto Co.") filed patent infringement suits against Meihua Holdings Group Co. Ltd. of China and three of its affiliates ("Meihua Group"), which manufacture and sell MSG products in China and other countries, as well as FDJ Co. Ltd. ("FDJ Co.") of Japan which imports and sells Meihua Group's MSG products in Japan, regarding the manufacturing process for such products with both the Guangdong High People's Court in China and the Tokyo District Court in Japan on October 9, 2025 (local time). The Meihua Group manufactures MSG products in Chinese subsidiary of Meihua Group and sells them in various countries. Ajinomoto Co. is of the opinion that the manufacturing process used by the Meihua Group infringes its patent rights, and has applied for an injunction against the production and sale of the allegedly infringing product, as well as a judgment for compensation for damages related to the allegedly infringing products already sold. Additionally, Ajinomoto Co. has applied for an injunction against import and sale of the infringing products by FDJ Co. in Japan, as well as a judgment for compensation for damages related to the allegedly infringing products already sold. Duyuru • Sep 30
MeiHua Holdings Group Co.,Ltd to Report Q3, 2025 Results on Oct 30, 2025 MeiHua Holdings Group Co.,Ltd announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: CN¥0.26 (vs CN¥0.24 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.26 (up from CN¥0.24 in 2Q 2024). Revenue: CN¥6.01b (down 2.3% from 2Q 2024). Net income: CN¥749.2m (up 3.8% from 2Q 2024). Profit margin: 13% (in line with 2Q 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Chemicals industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Aug 02
Price target increased by 10% to CN¥13.85 Up from CN¥12.57, the current price target is an average from 4 analysts. New target price is 24% above last closing price of CN¥11.16. Stock is up 9.4% over the past year. The company is forecast to post earnings per share of CN¥1.12 for next year compared to CN¥0.94 last year. Duyuru • Jul 02
MeiHua Holdings Group Co.,Ltd (SHSE:600873) completed the acquisition of Amino acid and Human Milk Oligosaccharide businesses of Kyowa Hakko Bio Co., Ltd. MeiHua Holdings Group Co.,Ltd (SHSE:600873) agreed to acquire Amino acid and Human Milk Oligosaccharide businesses of Kyowa Hakko Bio Co., Ltd. for ¥10.5 billion on November 22, 2024. The source of funds is self-owned funds.
For the period ending June, 2024, Amino acid and Human Milk Oligosaccharide businesses of Kyowa Hakko Bio Co., Ltd. reported total assets of ¥43.5 billion and net liabilities of ¥480 million.
The deal is subject to regulatory approval. The transaction has been approved by the Board of Directors of MeiHua Holdings Group Co.,Ltd (SHSE:600873). The deal is expected to be completed in the fourth quarter of 2025.
Haiwen & Partners, Mori Hamada & Matsumoto LPC, K&L Gates LLP, Coleman Street Chambers LLC, DFDL (Thailand) Limited and Noerr Partnerschaftsgesellschaft mbB acted as due diligence provider to MeiHua Holdings Group Co.,Ltd (SHSE:600873).
MeiHua Holdings Group Co.,Ltd (SHSE:600873) completed the acquisition of Amino acid and Human Milk Oligosaccharide businesses of Kyowa Hakko Bio Co., Ltd. on July 1, 2025. Duyuru • Jun 30
MeiHua Holdings Group Co.,Ltd to Report First Half, 2025 Results on Aug 20, 2025 MeiHua Holdings Group Co.,Ltd announced that they will report first half, 2025 results on Aug 20, 2025 Reported Earnings • Apr 22
First quarter 2025 earnings released: EPS: CN¥0.36 (vs CN¥0.26 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.36 (up from CN¥0.26 in 1Q 2024). Revenue: CN¥6.27b (down 3.4% from 1Q 2024). Net income: CN¥1.02b (up 36% from 1Q 2024). Profit margin: 16% (up from 12% in 1Q 2024). The increase in margin was driven by lower expenses. 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 10% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Duyuru • Mar 28
MeiHua Holdings Group Co.,Ltd to Report Q1, 2025 Results on Apr 22, 2025 MeiHua Holdings Group Co.,Ltd announced that they will report Q1, 2025 results on Apr 22, 2025 Reported Earnings • Mar 18
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.94 (down from CN¥1.06 in FY 2023). Revenue: CN¥25.1b (down 9.7% from FY 2023). Net income: CN¥2.74b (down 14% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 15% 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 fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Mar 18
MeiHua Holdings Group Co.,Ltd, Annual General Meeting, Apr 15, 2025 MeiHua Holdings Group Co.,Ltd, Annual General Meeting, Apr 15, 2025, at 14:00 China Standard Time. Location: No. 66, Huaxiang Road, Economic and Technological Development Area, Langfang, Hebei China Duyuru • Dec 27
MeiHua Holdings Group Co.,Ltd to Report Fiscal Year 2024 Results on Mar 18, 2025 MeiHua Holdings Group Co.,Ltd announced that they will report fiscal year 2024 results on Mar 18, 2025 Price Target Changed • Nov 23
Price target increased by 9.7% to CN¥13.97 Up from CN¥12.73, the current price target is an average from 3 analysts. New target price is 32% above last closing price of CN¥10.55. Stock is up 12% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥1.06 last year. Duyuru • Oct 24
MeiHua Holdings Group Co.,Ltd (SHSE:600873) announces an Equity Buyback for CNY 500 million worth of its shares. MeiHua Holdings Group Co.,Ltd (SHSE:600873) announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its shares. The shares will be repurchased at a price not more than CNY 9.81 per share. . The shares repurchased will be used for employee stock ownership plans or to convert company convertible bonds or to protect the company's value and shareholders' rights. The program will be valid for 12 months from shareholders' meeting has approved. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.31 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.18 (down from CN¥0.31 in 3Q 2023). Revenue: CN¥6.04b (down 15% from 3Q 2023). Net income: CN¥521.5m (down 42% from 3Q 2023). Profit margin: 8.6% (down from 13% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% 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 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Sep 30
MeiHua Holdings Group Co.,Ltd to Report Q3, 2024 Results on Oct 23, 2024 MeiHua Holdings Group Co.,Ltd announced that they will report Q3, 2024 results on Oct 23, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 16x in the Chemicals industry in China. Total returns to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥19.97 per share. Price Target Changed • Sep 23
Price target decreased by 7.4% to CN¥12.73 Down from CN¥13.75, the current price target is an average from 3 analysts. New target price is 42% above last closing price of CN¥8.95. Stock is down 7.3% over the past year. The company is forecast to post earnings per share of CN¥1.13 for next year compared to CN¥1.06 last year. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.19 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.24 (up from CN¥0.19 in 2Q 2023). Revenue: CN¥6.16b (down 7.3% from 2Q 2023). Net income: CN¥722.1m (up 27% from 2Q 2023). Profit margin: 12% (up from 8.6% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.2% 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 16% per year whereas the company’s share price has increased by 20% per year. Duyuru • Jun 28
MeiHua Holdings Group Co.,Ltd to Report First Half, 2024 Results on Jul 30, 2024 MeiHua Holdings Group Co.,Ltd announced that they will report first half, 2024 results on Jul 30, 2024 Duyuru • Mar 29
MeiHua Holdings Group Co.,Ltd to Report Q1, 2024 Results on Apr 09, 2024 MeiHua Holdings Group Co.,Ltd announced that they will report Q1, 2024 results on Apr 09, 2024 Duyuru • Mar 19
MeiHua Holdings Group Co.,Ltd, Annual General Meeting, Apr 08, 2024 MeiHua Holdings Group Co.,Ltd, Annual General Meeting, Apr 08, 2024, at 13:30 China Standard Time. Location: 3F, No. 66, Huaxiang Road, Economic and Technological Development Zone, Langfang, Hebei China Reported Earnings • Mar 19
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥1.06 (down from CN¥1.44 in FY 2022). Revenue: CN¥27.8b (flat on FY 2022). Net income: CN¥3.18b (down 28% from FY 2022). Profit margin: 12% (down from 16% in FY 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 17
Price target increased by 8.7% to CN¥13.76 Up from CN¥12.66, the current price target is an average from 2 analysts. New target price is 37% above last closing price of CN¥10.06. Stock is down 4.6% over the past year. The company is forecast to post earnings per share of CN¥1.13 for next year compared to CN¥1.44 last year. Duyuru • Dec 29
MeiHua Holdings Group Co.,Ltd to Report Fiscal Year 2023 Results on Mar 12, 2024 MeiHua Holdings Group Co.,Ltd announced that they will report fiscal year 2023 results on Mar 12, 2024 Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: CN¥0.27 (vs CN¥0.28 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.27 (down from CN¥0.28 in 3Q 2022). Revenue: CN¥6.94b (up 5.1% from 3Q 2022). Net income: CN¥789.7m (down 9.0% from 3Q 2022). Profit margin: 11% (down from 13% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 25
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥29.8b to CN¥26.1b. EPS estimate fell from CN¥1.48 to CN¥1.20 per share. Net income forecast to grow 15% next year vs 44% growth forecast for Food industry in China. Consensus price target down from CN¥17.76 to CN¥12.00. Share price fell 3.6% to CN¥8.48 over the past week. Price Target Changed • Aug 22
Price target decreased by 32% to CN¥12.00 Down from CN¥17.76, the current price target is provided by 1 analyst. New target price is 38% above last closing price of CN¥8.71. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥1.20 for next year compared to CN¥1.44 last year. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.46 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.19 (down from CN¥0.46 in 2Q 2022). Revenue: CN¥6.64b (down 12% from 2Q 2022). Net income: CN¥570.1m (down 60% from 2Q 2022). Profit margin: 8.6% (down from 19% in 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Duyuru • Jun 28
MeiHua Holdings Group Co.,Ltd to Report Q2, 2023 Results on Aug 19, 2023 MeiHua Holdings Group Co.,Ltd announced that they will report Q2, 2023 results at 3:00 PM, China Standard Time on Aug 19, 2023 Duyuru • May 11
MeiHua Holdings Group Co.,Ltd (SHSE:600873) commences an Equity Buyback Plan for CNY 1,000 million worth of its shares, under the authorization approved on April 28, 2023 . MeiHua Holdings Group Co.,Ltd (SHSE:600873) commences share repurchases on May 10, 2023, under the program mandated by the shareholders in the extraordinary general meeting held on April 28, 2023. As per the mandate, the company is authorized to repurchase to repurchase up to CNY 1,000 million worth of its class A shares. The shares will be repurchased at a price of not more than CNY 12 per share. The repurchases will be funded from the company's own funds. The purpose of the program is to repurchase shares for cancellation and reduction of registered capital. The program will be valid for a period of 12 months. Reported Earnings • Mar 08
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥1.44 (up from CN¥0.76 in FY 2021). Revenue: CN¥27.9b (up 22% from FY 2021). Net income: CN¥4.41b (up 87% from FY 2021). Profit margin: 16% (up from 10% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 1.4%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. 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. No highly experienced directors. 2 independent directors (3 non-independent directors). Chair Aijun Wang was the last director to join the board, commencing their role in 2017. 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 28
Third quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.28 (up from CN¥0.11 in 3Q 2021). Revenue: CN¥6.60b (up 26% from 3Q 2021). Net income: CN¥868.2m (up 169% from 3Q 2021). Profit margin: 13% (up from 6.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Food industry in China. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 28
MeiHua Holdings Group Co.,Ltd (SHSE:600873) commences an Equity Buyback Plan for CNY 1,000 million worth of its shares, under the authorization approved on June 9, 2022. MeiHua Holdings Group Co.,Ltd (SHSE:600873) commences share repurchases on July 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 9, 2022. As per the mandate, the company is authorized to repurchase to repurchase up to CNY 1,000 million worth of its class A shares. The shares will be repurchased at a price of not more than CNY 12 per share. The repurchases will be funded from the company's own funds. The purpose of the program is to repurchase shares for cancellation and reduction of registered capital. The program will be valid for a period of 12 months. Reported Earnings • Jul 17
Second quarter 2022 earnings released: EPS: CN¥0.46 (vs CN¥0.19 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.46 (up from CN¥0.19 in 2Q 2021). Revenue: CN¥7.51b (up 31% from 2Q 2021). Net income: CN¥1.42b (up 138% from 2Q 2021). Profit margin: 19% (up from 10% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 23% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 13
Consensus revenue estimates increase by 13% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from CN¥26.8b to CN¥30.3b. EPS estimate increased from CN¥1.11 to CN¥1.45 per share. Net income forecast to grow 49% next year vs 36% growth forecast for Food industry in China. Consensus price target up from CN¥15.51 to CN¥17.45. Share price fell 2.1% to CN¥12.28 over the past week. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥13.30, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 26x in the Food industry in China. Total returns to shareholders of 234% over the past three years. Price Target Changed • May 11
Price target increased to CN¥15.51 Up from CN¥13.00, the current price target is provided by 1 analyst. New target price is 73% above last closing price of CN¥8.96. Stock is up 40% over the past year. The company is forecast to post earnings per share of CN¥1.11 for next year compared to CN¥0.76 last year. Reported Earnings • Apr 29
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: CN¥0.37 (up from CN¥0.13 in 1Q 2021). Revenue: CN¥6.71b (up 26% from 1Q 2021). Net income: CN¥1.16b (up 184% from 1Q 2021). Profit margin: 17% (up from 7.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 4.2%, compared to a 19% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. 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. No highly experienced directors. 2 independent directors (3 non-independent directors). Chair Aijun Wang was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 08
Price target decreased to CN¥10.12 Down from CN¥13.00, the current price target is provided by 1 analyst. New target price is 17% above last closing price of CN¥8.63. Stock is up 42% over the past year. The company is forecast to post earnings per share of CN¥0.92 for next year compared to CN¥0.76 last year. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.76 (up from CN¥0.32 in FY 2020). Revenue: CN¥22.8b (up 34% from FY 2020). Net income: CN¥2.35b (up 139% from FY 2020). Profit margin: 10% (up from 5.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 7.4%, compared to a 17% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 18% per year. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥7.78, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 28x in the Food industry in China. Total returns to shareholders of 128% over the past three years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.06 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥5.26b (up 34% from 3Q 2020). Net income: CN¥322.8m (up 76% from 3Q 2020). Profit margin: 6.1% (up from 4.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 20
Second quarter 2021 earnings released: EPS CN¥0.19 (vs CN¥0.12 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥5.72b (up 37% from 2Q 2020). Net income: CN¥595.8m (up 53% from 2Q 2020). Profit margin: 10% (up from 9.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 10
Full year 2020 earnings released: EPS CN¥0.32 (vs CN¥0.32 in FY 2019) The company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: CN¥17.0b (up 17% from FY 2019). Net income: CN¥982.1m (flat on FY 2019). Profit margin: 5.8% (down from 6.8% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 22
New 90-day high: CN¥6.95 The company is up 24% from its price of CN¥5.59 on 24 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 22% over the same period. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥6.79, the stock is trading at a trailing P/E ratio of 22.5x, up from the previous P/E ratio of 18.4x. This compares to an average P/E of 37x in the Food industry in China. Total returns to shareholders over the past three years are 70%. Is New 90 Day High Low • Jan 22
New 90-day high: CN¥5.86 The company is up 11% from its price of CN¥5.29 on 23 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥4.98 The company is down 12% from its price of CN¥5.67 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 1.0% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: CN¥5.15 The company is down 2.0% from its price of CN¥5.24 on 28 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is down 1.0% over the same period. Reported Earnings • Oct 25
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥952.8m, down 15% from the prior year. Total revenue was CN¥15.8b over the last 12 months, up 12% from the prior year. Duyuru • Oct 20
MeiHua Holdings Group Co.,Ltd to Report Q3, 2020 Results on Oct 24, 2020 MeiHua Holdings Group Co.,Ltd announced that they will report Q3, 2020 results on Oct 24, 2020