New Risk • May 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.6x 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 (0.6x net interest cover). Earnings have declined by 32% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Large one-off items impacting financial results. Reported Earnings • Apr 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.04 (down from CN¥0.09 in FY 2024). Revenue: CN¥13.7b (down 11% from FY 2024). Net income: CN¥125.7m (down 53% from FY 2024). Profit margin: 0.9% (down from 1.7% in FY 2024). Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 84%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 2 highly experienced directors. Independent Director Yunqiao Shen was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Duyuru • Mar 31
CSG Holding Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 CSG Holding Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 New Risk • Feb 02
New major risk - Revenue and earnings growth Earnings have declined by 18% 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 Interest payments are not well covered by earnings (0.3x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 18% per year over the past 5 years. Duyuru • Dec 31
CSG Holding Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 CSG Holding Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: CN¥0.048 (vs CN¥0.018 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.048 (up from CN¥0.018 in 3Q 2024). Revenue: CN¥3.94b (up 4.9% from 3Q 2024). Net income: CN¥75.9m (up 42% from 3Q 2024). Profit margin: 1.9% (up from 1.4% in 3Q 2024). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Duyuru • Sep 30
CSG Holding Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 CSG Holding Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 New Risk • Aug 22
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Reported Earnings • Aug 20
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CN¥3.41b (down 17% from 2Q 2024). Net income: CN¥58.7m (down 86% from 2Q 2024). Profit margin: 1.7% (down from 9.9% in 2Q 2024). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 21
Dividend reduced to CN¥0.07 Dividend of CN¥0.07 is 72% lower than last year. Ex-date: 23rd July 2025 Payment date: 23rd July 2025 Dividend yield will be 1.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having 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. Duyuru • Jul 02
CSG Holding Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 CSG Holding Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Duyuru • May 29
CSG Holding Co., Ltd., Annual General Meeting, Jun 24, 2025 CSG Holding Co., Ltd., Annual General Meeting, Jun 24, 2025, at 14:45 China Standard Time. Location: 2F, Office Building, No. 1, Shekou Industrial 6th Road, Nanshan District, Shenzhen, Guangdong China New Risk • Apr 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.1x 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 (2.1x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Reported Earnings • Apr 29
Third quarter 2024 earnings released: EPS: CN¥0.018 (vs CN¥0.19 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.018 (down from CN¥0.19 in 3Q 2023). Revenue: CN¥3.76b (down 26% from 3Q 2023). Net income: CN¥53.3m (down 91% from 3Q 2023). Profit margin: 1.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year. Duyuru • Mar 31
CSG Holding Co., Ltd. to Report Q1, 2025 Results on Apr 28, 2025 CSG Holding Co., Ltd. announced that they will report Q1, 2025 results on Apr 28, 2025 Duyuru • Feb 14
CSG Holding Co., Ltd. (SZSE:000012) announces an Equity Buyback. CSG Holding Co., Ltd. (SZSE:000012) announces a share repurchase program. Under the program, the company will repurchase up to CNY 485 million worth of its Class A shares and HKD 100 million (equivalent to CNY 92.09 million) of Class B shares. The shares will be purchased at a price not exceeding CNY 7.60 per Class A share and HKD 3.13 per share for Class B shares. The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The A shares repurchased by the Company will all be used for equity incentives or ESOP and all B shares repurchased will be cancelled. The program will be funded from company's own funds and self-raised funds. The repurchase program is subject to share holder's approval. The program will be valid for 12 months from the Company's Shareholders’ Approval Date. Duyuru • Dec 31
CSG Holding Co., Ltd. to Report Fiscal Year 2024 Results on Apr 28, 2025 CSG Holding Co., Ltd. announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.018 (vs CN¥0.19 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.018 (down from CN¥0.19 in 3Q 2023). Revenue: CN¥3.76b (down 26% from 3Q 2023). Net income: CN¥53.3m (down 91% from 3Q 2023). Profit margin: 1.4% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Oct 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to CN¥5.42. The fair value is estimated to be CN¥4.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 3.7%. Revenue is forecast to grow by 3.3% in 2 years. Earnings are forecast to grow by 4.1% in the next 2 years. Duyuru • Sep 30
CSG Holding Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 CSG Holding Co., Ltd. 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 19% After last week's 19% share price gain to CN¥5.78, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Basic Materials industry in China. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.46 per share. Buy Or Sell Opportunity • Sep 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.7% to CN¥5.38. The fair value is estimated to be CN¥4.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 3.7%. Revenue is forecast to grow by 3.3% in 2 years. Earnings are forecast to grow by 4.1% in the next 2 years. Major Estimate Revision • Sep 11
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from CN¥16.0b to CN¥16.5b. EPS estimate increased from CN¥0.35 to CN¥0.395 per share. Net income forecast to shrink 12% next year vs 20% growth forecast for Basic Materials industry in China . Consensus price target down from CN¥7.99 to CN¥7.14. Share price fell 2.8% to CN¥4.81 over the past week. Reported Earnings • Aug 26
Second quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.16 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.13 (down from CN¥0.16 in 2Q 2023). Revenue: CN¥4.13b (down 4.3% from 2Q 2023). Net income: CN¥407.7m (down 17% from 2Q 2023). Profit margin: 9.9% (down from 11% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 11
Dividend increased to CN¥0.25 Dividend of CN¥0.25 is 67% higher than last year. Ex-date: 16th July 2024 Payment date: 16th July 2024 Dividend yield will be 4.9%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Jul 10
CSG Holding Co., Ltd. Announces Final Cash Dividend of B Shares for 2023, Payable on 18 July 2024 CSG Holding Co., Ltd. announced final cash dividend of CNY 2.50000000 per 10 B shares for 2023. Record date: 18 July 2024. Ex-date: 16 July 2024. Payment date: 18 July 2024. Duyuru • Jun 29
CSG Holding Co., Ltd. to Report First Half, 2024 Results on Aug 26, 2024 CSG Holding Co., Ltd. announced that they will report first half, 2024 results on Aug 26, 2024 Duyuru • May 30
CSG Holding Co., Ltd., Annual General Meeting, Jun 20, 2024 CSG Holding Co., Ltd., Annual General Meeting, Jun 20, 2024, at 14:45 China Standard Time. Location: The Company's Meeting Room, Shenzhen, Guangdong China Price Target Changed • May 24
Price target increased by 12% to CN¥7.99 Up from CN¥7.16, the current price target is an average from 2 analysts. New target price is 37% above last closing price of CN¥5.82. Stock is down 6.0% over the past year. The company is forecast to post earnings per share of CN¥0.82 for next year compared to CN¥0.54 last year. Duyuru • Apr 27
CSG Holding Co., Ltd. Proposes Final Cash Dividend for the Year 2023 CSG Holding Co., Ltd. proposed final cash dividend/10 shares (tax included) of CNY 2.50000000 for the year 2023. Reported Earnings • Apr 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.54 (down from CN¥0.66 in FY 2022). Revenue: CN¥18.2b (up 20% from FY 2022). Net income: CN¥1.66b (down 19% from FY 2022). Profit margin: 9.1% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Basic Materials 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 15% per year, which means it is significantly lagging earnings. Duyuru • Mar 30
CSG Holding Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 CSG Holding Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Duyuru • Dec 30
CSG Holding Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 CSG Holding Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Duyuru • Jul 08
CSG Holding Co., Ltd. Announces 2022 Final Profit Distribution Plan to be Implemented (A shares) , Payable on 14 July 2023 CSG Holding Co., Ltd. announced 2022 final profit distribution plan to be implemented (A shares) of cash dividend/10 shares (tax included): CNY 1.50000000. Record date is 13 July 2023, Ex-date is 14 July 2023 and Payment date is 14 July 2023. Duyuru • Jun 07
CSG Holding Co., Ltd., Annual General Meeting, Jun 28, 2023 CSG Holding Co., Ltd., Annual General Meeting, Jun 28, 2023, at 14:45 China Standard Time. Agenda: To consider 2022 work report of the board of directors; to consider 2022 work report of the supervisory committee; to consider 2022 annual report and its summary; to consider 2022 annual accounts; to consider 2022 profit distribution plan; to consider 2023 launching the assets pool business; to consider 2023 guarantee plan; to consider Amendments to the Company's articles of association and its appendix; and to consider Amendments to and formulation of relevant systems. Duyuru • Aug 05
Csg Holding Co., Ltd. Appoints Shen Chengfang as A Non-Independent Director CSG Holding Co., Ltd. appointed Shen Chengfang as a non-independent director at its EGM held on 03 August 2022. Duyuru • May 19
Csg Holding Co., Ltd. Approves Cash Dividend for 2021 CSG Holding Co., Ltd. held its Annual General Meeting of 2021 on May 16, 2022, approved Cash dividend (tax included) of CNY 2.00000000 per 10 shares. Duyuru • Apr 26
Csg Holding Co., Ltd. Proposes Cash Dividend for the Year 2021 CSG Holding Co., Ltd. announced on 25 April 2022 the profit distribution proposal for 2021 as follows: Cash dividend/10 shares (tax included) of CNY 2.00000000. Duyuru • Mar 09
CSG Holding Co., Ltd. to Report Fiscal Year 2020 Results on Apr 20, 2021 CSG Holding Co., Ltd. announced that they will report fiscal year 2020 results on Apr 20, 2021 Duyuru • Oct 17
CSG Holding Co., Ltd. to Report Q3, 2020 Results on Oct 26, 2020 CSG Holding Co., Ltd. announced that they will report Q3, 2020 results on Oct 26, 2020 Duyuru • Aug 01
CSG Holding Co., Ltd. to Report First Half, 2020 Results on Aug 24, 2020 CSG Holding Co., Ltd. announced that they will report first half, 2020 results on Aug 24, 2020 
