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. Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Qian Wang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥6.41, the stock trades at a trailing P/E ratio of 46.4x. Average trailing P/E is 52x in the Chemicals industry in China. Total returns to shareholders of 40% over the past three years. 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 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 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 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 32% 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 25% 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. 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. Reported Earnings • Aug 27
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. Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat 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%. Over the next year, revenue is forecast to grow 41%, compared to a 48% 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 23
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 21x 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. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥13.20, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 21x in the Chemicals industry in China. Total returns to shareholders of 165% over the past three years. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥12.51, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Chemicals industry in China. Total returns to shareholders of 144% over the past three years. Reported Earnings • Aug 27
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 12
Investor sentiment improved over the past week After last week's 20% 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. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improved over the past week After last week's 19% 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 40% 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 23
New 90-day high: CN¥5.91 The company is up 2.0% from its price of CN¥5.80 on 25 November 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥4.99 The company is down 11% from its price of CN¥5.59 on 06 November 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 20% 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. 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.