Declared Dividend • May 27
Dividend of CN¥1.00 announced Shareholders will receive a dividend of CN¥1.00. Ex-date: 29th May 2026 Payment date: 29th May 2026 Dividend yield will be 5.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 14% over the next year, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Director Yanjun Xie was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 24
Dashang Co., Ltd., Annual General Meeting, May 15, 2026 Dashang Co., Ltd., Annual General Meeting, May 15, 2026, at 09:00 China Standard Time. Location: The Company Headquarters' Meeting Room, Dalian, Liaoning China Duyuru • Mar 30
Dashang Co., Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Dashang Co., Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Duyuru • Dec 26
Dashang Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Dashang Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 Duyuru • Sep 30
Dashang Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Dashang Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Duyuru • Jun 30
Dashang Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Dashang Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Duyuru • Apr 26
Dashang Co., Ltd., Annual General Meeting, May 16, 2025 Dashang Co., Ltd., Annual General Meeting, May 16, 2025, at 09:30 China Standard Time. Location: The Company Headquarters' Meeting Room, Dalian, Liaoning China Duyuru • Mar 28
Dashang Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Dashang Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Duyuru • Dec 27
Dashang Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Dashang Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: CN¥0.28 (vs CN¥0.30 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.28 (down from CN¥0.30 in 3Q 2023). Revenue: CN¥1.62b (down 4.6% from 3Q 2023). Net income: CN¥87.3m (down 8.2% from 3Q 2023). Profit margin: 5.4% (down from 5.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail 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. Duyuru • Sep 30
Dashang Co., Ltd. to Report Q3, 2024 Results on Oct 23, 2024 Dashang Co., Ltd. announced that they will report Q3, 2024 results on Oct 23, 2024 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥17.83, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 19x in the Multiline Retail industry in China. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.13 per share. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.58 (vs CN¥0.45 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.58 (up from CN¥0.45 in 2Q 2023). Revenue: CN¥1.58b (down 7.6% from 2Q 2023). Net income: CN¥180.8m (up 28% from 2Q 2023). Profit margin: 12% (up from 8.3% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Duyuru • Jun 28
Dashang Co., Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Dashang Co., Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 New Risk • Jun 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Declared Dividend • Jun 06
Dividend increased to CN¥1.00 Dividend of CN¥1.00 is 100% higher than last year. Ex-date: 11th June 2024 Payment date: 11th June 2024 Dividend yield will be 5.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 5.1% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 15
Full year 2023 earnings released: EPS: CN¥1.77 (vs CN¥1.93 in FY 2022) Full year 2023 results: EPS: CN¥1.77 (down from CN¥1.93 in FY 2022). Revenue: CN¥7.33b (flat on FY 2022). Net income: CN¥505.1m (down 8.0% from FY 2022). Profit margin: 6.9% (down from 7.5% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Duyuru • Apr 13
Dashang Co., Ltd., Annual General Meeting, May 08, 2024 Dashang Co., Ltd., Annual General Meeting, May 08, 2024, at 09:00 China Standard Time. Duyuru • Mar 29
Dashang Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Dashang Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥14.22, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Multiline Retail industry in China. Total loss to shareholders of 8.9% over the past three years. Duyuru • Dec 29
Dashang Co., Ltd. to Report Fiscal Year 2023 Results on Apr 13, 2024 Dashang Co., Ltd. announced that they will report fiscal year 2023 results on Apr 13, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: CN¥0.33 (vs CN¥0.28 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.33 (up from CN¥0.28 in 3Q 2022). Revenue: CN¥1.70b (down 11% from 3Q 2022). Net income: CN¥95.1m (up 19% from 3Q 2022). Profit margin: 5.6% (up from 4.2% in 3Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 10% per year. Duyuru • Sep 30
Dashang Co., Ltd. to Report Q3, 2023 Results on Oct 26, 2023 Dashang Co., Ltd. announced that they will report Q3, 2023 results on Oct 26, 2023 Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.50 (vs CN¥0.68 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.50 (down from CN¥0.68 in 2Q 2022). Revenue: CN¥1.70b (up 5.4% from 2Q 2022). Net income: CN¥140.9m (down 27% from 2Q 2022). Profit margin: 8.3% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Multiline Retail 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 11% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: CN¥1.93 (vs CN¥2.64 in FY 2021) Full year 2022 results: EPS: CN¥1.93 (down from CN¥2.64 in FY 2021). Revenue: CN¥7.28b (down 13% from FY 2021). Net income: CN¥549.2m (down 28% from FY 2021). Profit margin: 7.5% (down from 9.1% in FY 2021). Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 7% per year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Ying Zhang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.28 (vs CN¥0.54 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.28 (down from CN¥0.54 in 3Q 2021). Revenue: CN¥1.91b (up 8.1% from 3Q 2021). Net income: CN¥80.2m (down 47% from 3Q 2021). Profit margin: 4.2% (down from 8.6% in 3Q 2021). Revenue is forecast to stay flat during the next 2 years compared to a 14% growth forecast for the Multiline Retail 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 fallen by 15% per year, which means it is performing significantly worse than earnings. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.68 (vs CN¥0.72 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.68 (down from CN¥0.72 in 2Q 2021). Revenue: CN¥1.62b (down 15% from 2Q 2021). Net income: CN¥191.9m (down 7.8% from 2Q 2021). Profit margin: 12% (up from 11% in 2Q 2021). Over the next year, revenue is expected to shrink by 2.4% compared to a 142% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 13% per year. Board Change • Apr 27
Less than half of directors are independent There are 6 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: 2 independent directors. 6 non-independent directors. Independent Director Ying Zhang was the last independent director to join the board, commencing their role in 2019. 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 • Apr 10
Full year 2021 earnings released: EPS: CN¥2.44 (vs CN¥1.70 in FY 2020) Full year 2021 results: EPS: CN¥2.44 (up from CN¥1.70 in FY 2020). Revenue: CN¥7.93b (down 2.3% from FY 2020). Net income: CN¥702.2m (up 41% from FY 2020). Profit margin: 8.9% (up from 6.2% in FY 2020). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 8.1%, compared to a 11% growth forecast for the retail industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 13% per year. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.54 (vs CN¥0.60 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: CN¥1.77b (down 12% from 3Q 2020). Net income: CN¥152.5m (down 6.1% from 3Q 2020). Profit margin: 8.6% (up from 8.1% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% 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. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS CN¥0.72 (vs CN¥0.75 in 2Q 2020) The company reported a soft second quarter result with weaker earnings, although revenues and profit margins were flat. Second quarter 2021 results: Revenue: CN¥1.91b (flat on 2Q 2020). Net income: CN¥208.0m (down 7.2% from 2Q 2020). Profit margin: 11% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥0.99 (vs CN¥0.19 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.46b (up 19% from 1Q 2020). Net income: CN¥289.6m (up 432% from 1Q 2020). Profit margin: 12% (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 21% per year whereas the company’s share price has fallen by 17% per year. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS CN¥1.70 (vs CN¥3.04 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: CN¥8.12b (down 63% from FY 2019). Net income: CN¥499.4m (down 44% from FY 2019). Profit margin: 6.2% (up from 4.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 20% 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. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥18.71 The company is down 18% from its price of CN¥22.83 on 28 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 16% over the same period. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥19.45 The company is down 18% from its price of CN¥23.64 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 13% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: CN¥20.67 The company is down 16% from its price of CN¥24.64 on 18 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 12% over the same period. Is New 90 Day High Low • Dec 03
New 90-day low: CN¥22.54 The company is down 10.0% from its price of CN¥24.95 on 04 September 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Multiline Retail industry, which is down 12% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥497.9m, down 52% from the prior year. Total revenue was CN¥11.1b over the last 12 months, down 50% from the prior year. Is New 90 Day High Low • Oct 21
New 90-day low: CN¥23.20 The company is down 18% from its price of CN¥28.41 on 23 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 15% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: CN¥23.30 The company is down 2.0% from its price of CN¥23.75 on 24 June 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is up 9.0% over the same period.