Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥6.01, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 48x in the Chemicals industry in China. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥6.39, the stock trades at a trailing P/E ratio of 46.2x. Average trailing P/E is 52x in the Chemicals industry in China. Total returns to shareholders of 38% over the past three years. New Risk • May 01
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 42% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 24
Full year 2025 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in FY 2024) Full year 2025 results: EPS: CN¥0.11 (in line with FY 2024). Revenue: CN¥14.8b (up 45% from FY 2024). Net income: CN¥225.3m (up 2.8% from FY 2024). Profit margin: 1.5% (down from 2.1% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Duyuru • Apr 23
Befar Group Co.,Ltd, Annual General Meeting, May 13, 2026 Befar Group Co.,Ltd, Annual General Meeting, May 13, 2026, at 14:30 China Standard Time. Location: No. 869, Huanghe 5th Road, Binzhou, Shandong China Duyuru • Mar 30
Befar Group Co.,Ltd to Report Q1, 2026 Results on Apr 23, 2026 Befar Group Co.,Ltd announced that they will report Q1, 2026 results on Apr 23, 2026 Duyuru • Dec 26
Befar Group Co.,Ltd to Report Fiscal Year 2025 Results on Apr 23, 2026 Befar Group Co.,Ltd announced that they will report fiscal year 2025 results on Apr 23, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.062 (vs CN¥0.057 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.062. Revenue: CN¥3.79b (up 26% from 3Q 2024). Net income: CN¥80.8m (down 3.9% from 3Q 2024). Profit margin: 2.1% (down from 2.8% in 3Q 2024). Duyuru • Sep 30
Befar Group Co.,Ltd to Report Q3, 2025 Results on Oct 31, 2025 Befar Group Co.,Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Duyuru • Jun 30
Befar Group Co.,Ltd to Report First Half, 2025 Results on Aug 29, 2025 Befar Group Co.,Ltd announced that they will report first half, 2025 results on Aug 29, 2025 Declared Dividend • Jun 13
Dividend of CN¥0.03 announced Shareholders will receive a dividend of CN¥0.03. Ex-date: 17th June 2025 Payment date: 17th June 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (35% 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 over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 61% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.2% EPS decline seen over the last 5 years. Reported Earnings • Apr 30
Full year 2024 earnings released: EPS: CN¥0.11 (vs CN¥0.19 in FY 2023) Full year 2024 results: EPS: CN¥0.11 (down from CN¥0.19 in FY 2023). Revenue: CN¥10.2b (up 40% from FY 2023). Net income: CN¥219.2m (down 43% from FY 2023). Profit margin: 2.1% (down from 5.2% in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Duyuru • Apr 30
Befar Group Co.,Ltd, Annual General Meeting, May 26, 2025 Befar Group Co.,Ltd, Annual General Meeting, May 26, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Binzhou, Shandong China Duyuru • Mar 28
Befar Group Co.,Ltd to Report Q1, 2025 Results on Apr 30, 2025 Befar Group Co.,Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 New Risk • Feb 07
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 Risks Debt is not well covered by operating cash flow (8.8% operating cash flow to total debt). Earnings have declined by 1.1% 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. Profit margins are more than 30% lower than last year (3.1% net profit margin). Duyuru • Dec 27
Befar Group Co.,Ltd to Report Fiscal Year 2024 Results on Apr 30, 2025 Befar Group Co.,Ltd announced that they will report fiscal year 2024 results on Apr 30, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.057 (vs CN¥0.058 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.057 (down from CN¥0.058 in 3Q 2023). Revenue: CN¥3.01b (up 50% from 3Q 2023). Net income: CN¥84.1m (down 35% from 3Q 2023). Profit margin: 2.8% (down from 6.5% in 3Q 2023). Revenue is forecast to grow 14% 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, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Duyuru • Sep 30
Befar Group Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Befar Group Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥3.76, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Chemicals industry in China. Total loss to shareholders of 60% over the past three years. Duyuru • Sep 23
Befar Group Co.,Ltd (SHSE:601678) announces an Equity Buyback for CNY 150 million worth of its shares. Befar Group Co.,Ltd (SHSE:601678) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 5 per share. The purpose of the program is to promote the company’s stock price to match its intrinsic value. The repurchased shares will be used for the employee stock ownership plan. The program will be funded from company's own funds. The program will be valid for 12 months. Reported Earnings • Aug 30
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: CN¥2.61b (up 56% from 2Q 2023). Net income: CN¥75.7m (down 3.2% from 2Q 2023). Profit margin: 2.9% (down from 4.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% 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 58% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 11
Second quarter 2024 earnings released: EPS: CN¥0.038 (vs CN¥0.04 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.038 (down from CN¥0.04 in 2Q 2023). Revenue: CN¥2.61b (up 56% from 2Q 2023). Net income: CN¥75.9m (down 2.9% from 2Q 2023). Profit margin: 2.9% (down from 4.7% in 2Q 2023). Revenue is forecast to grow 16% 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 58% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Duyuru • Jun 28
Befar Group Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 Befar Group Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • Jun 17
Dividend of CN¥0.05 announced Shareholders will receive a dividend of CN¥0.05. Ex-date: 20th June 2024 Payment date: 20th June 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (29% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 155% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Apr 29
Befar Group Co.,Ltd, Annual General Meeting, May 21, 2024 Befar Group Co.,Ltd, Annual General Meeting, May 21, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Binzhou, Shandong China Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: CN¥0.01 (vs CN¥0.04 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.01 (down from CN¥0.04 in 1Q 2023). Revenue: CN¥1.95b (up 11% from 1Q 2023). Net income: CN¥29.5m (down 59% from 1Q 2023). Profit margin: 1.5% (down from 4.1% 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 47% 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
Befar Group Co.,Ltd to Report Q1, 2024 Results on Apr 27, 2024 Befar Group Co.,Ltd announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥3.95, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 25x in the Chemicals industry in China. Total loss to shareholders of 18% over the past three years. Duyuru • Dec 30
Befar Group Co.,Ltd to Report Fiscal Year 2023 Results on Apr 27, 2024 Befar Group Co.,Ltd announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.058 (vs CN¥0.16 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.058 (down from CN¥0.16 in 3Q 2022). Revenue: CN¥2.01b (down 10% from 3Q 2022). Net income: CN¥129.7m (down 60% from 3Q 2022). Profit margin: 6.5% (down from 14% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 24% 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 10% per year whereas the company’s share price has fallen by 6% per year. Duyuru • Sep 30
Befar Group Co.,Ltd to Report Q3, 2023 Results on Oct 31, 2023 Befar Group Co.,Ltd announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.04 (vs CN¥0.13 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.04 (down from CN¥0.13 in 2Q 2022). Revenue: CN¥1.67b (down 27% from 2Q 2022). Net income: CN¥78.2m (down 75% from 2Q 2022). Profit margin: 4.7% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% 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 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Jun 28
Befar Group Co.,Ltd to Report First Half, 2023 Results on Aug 30, 2023 Befar Group Co.,Ltd announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.04 (vs CN¥0.22 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.04 (down from CN¥0.22 in 1Q 2022). Revenue: CN¥1.76b (down 22% from 1Q 2022). Net income: CN¥71.7m (down 81% from 1Q 2022). Profit margin: 4.1% (down from 17% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 02
Befar Group Co.,Ltd (SHSE:601678) announces an Equity Buyback for CNY 100 million worth of its shares. Befar Group Co.,Ltd (SHSE:601678) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its hares. The shares will be repurchased at a price not more than CNY 8 per share. The repurchases will be funded using company's own funds. The company will repurchase its shares as part of the employee stock ownership plans. The program will be valid for 12 months. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Wenfeng Li was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.22 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.16 (down from CN¥0.22 in 3Q 2021). Revenue: CN¥2.24b (up 1.0% from 3Q 2021). Net income: CN¥325.7m (down 25% from 3Q 2021). Profit margin: 14% (down from 19% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Duyuru • Sep 28
Befar Group Co.,Ltd announced that it expects to receive CNY 2 billion in funding Befar Group Co.,Ltd announced a private placement of not more than 617,410,882 A shares for an aggregate gross proceeds of not more than CNY 2,000,000,000 on September 27, 2022. 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 not more than 35 investors. The shares to be issued have a hold period of 6 months from the issuance closing date. The transaction has been approved at 8th Meeting of the Company’s 5th Directorate and is subject to approvals of the company’s shareholders and the China Securities Regulatory Commission. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.13 (vs CN¥0.26 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.13 (down from CN¥0.26 in 2Q 2021). Revenue: CN¥2.30b (up 4.5% from 2Q 2021). Net income: CN¥317.9m (down 34% from 2Q 2021). Profit margin: 14% (down from 22% in 2Q 2021). 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 3% 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. 12 experienced directors. No highly experienced directors. 4 independent directors (7 non-independent directors). Chairman Zhongzheng Zhang was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 7.9%. The fair value is estimated to be CN¥8.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 54%. Revenue is forecast to grow by 26% in a year. Earnings is forecast to grow by 49% in the next year. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: CN¥0.88 (up from CN¥0.33 in FY 2020). Revenue: CN¥9.27b (up 44% from FY 2020). Net income: CN¥1.63b (up 221% from FY 2020). Profit margin: 18% (up from 7.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 41%, compared to a 47% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥8.51, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥6.75 per share. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.22 (vs CN¥0.15 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥2.22b (up 35% from 3Q 2020). Net income: CN¥431.6m (up 95% from 3Q 2020). Profit margin: 19% (up from 14% 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 30% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥10.88, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 121% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.91 per share. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥12.34, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 22x in the Chemicals industry in China. Total returns to shareholders of 159% over the past three years. Price Target Changed • Aug 28
Price target increased to CN¥11.71 Up from CN¥10.78, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of CN¥11.67. Stock is up 131% over the past year. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.012 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥2.20b (up 71% from 2Q 2020). Net income: CN¥484.3m (up CN¥503.4m from 2Q 2020). Profit margin: 22% (up from net loss in 2Q 2020). The move to profitability 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 increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥9.45, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 19x in the Chemicals industry in China. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.57 per share. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.012 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥2.20b (up 71% from 2Q 2020). Net income: CN¥480.5m (up CN¥499.7m from 2Q 2020). Profit margin: 22% (up from net loss in 2Q 2020). The move to profitability 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 increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Jul 02
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from CN¥8.91b to CN¥8.80b. EPS estimate rose from CN¥0.68 to CN¥0.80. Net income forecast to grow 66% next year vs 41% growth forecast for Chemicals industry in China. Consensus price target of CN¥10.58 unchanged from last update. Share price rose 15% to CN¥7.61 over the past week. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥7.91, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥7.38, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Chemicals industry in China. Total returns to shareholders of 6.9% over the past three years. Reported Earnings • Apr 17
First quarter 2021 earnings released: EPS CN¥0.30 (vs CN¥0.02 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.12b (up 48% from 1Q 2020). Net income: CN¥494.2m (up CN¥457.6m from 1Q 2020). Profit margin: 23% (up from 2.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 03
New 90-day low: CN¥4.99 The company is down 11% from its price of CN¥5.61 on 05 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 12
New 90-day high: CN¥5.90 The company is up 13% from its price of CN¥5.21 on 14 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 4.0% over the same period. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥331.6m, down 14% from the prior year. Total revenue was CN¥5.94b over the last 12 months, down 4.1% from the prior year. Duyuru • Oct 28
Befar Group Co.,Ltd to Report Q3, 2020 Results on Oct 30, 2020 Befar Group Co.,Ltd announced that they will report Q3, 2020 results on Oct 30, 2020 Is New 90 Day High Low • Sep 18
New 90-day high: CN¥5.70 The company is up 31% from its price of CN¥4.34 on 19 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 22% over the same period. Duyuru • Jul 09
Befar Group Co.,Ltd to Report First Half, 2020 Results on Aug 26, 2020 Befar Group Co.,Ltd announced that they will report first half, 2020 results on Aug 26, 2020