Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Jun Huang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Mar 30
Shenergy Company Limited to Report Q1, 2026 Results on Apr 27, 2026 Shenergy Company Limited announced that they will report Q1, 2026 results on Apr 27, 2026 Duyuru • Dec 26
Shenergy Company Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Shenergy Company Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Duyuru • Sep 30
Shenergy Company Limited to Report Q3, 2025 Results on Oct 31, 2025 Shenergy Company Limited announced that they will report Q3, 2025 results on Oct 31, 2025 Duyuru • Jun 30
Shenergy Company Limited to Report First Half, 2025 Results on Aug 30, 2025 Shenergy Company Limited announced that they will report first half, 2025 results on Aug 30, 2025 Duyuru • May 30
Shenergy Company Limited, Annual General Meeting, Jun 20, 2025 Shenergy Company Limited, Annual General Meeting, Jun 20, 2025, at 13:30 China Standard Time. Duyuru • Mar 28
Shenergy Company Limited to Report Q1, 2025 Results on Apr 30, 2025 Shenergy Company Limited announced that they will report Q1, 2025 results on Apr 30, 2025 Duyuru • Dec 27
Shenergy Company Limited to Report Fiscal Year 2024 Results on Apr 30, 2025 Shenergy Company Limited announced that they will report fiscal year 2024 results on Apr 30, 2025 New Risk • Nov 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (109% cash payout ratio). Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.22 (vs CN¥0.14 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.22 (up from CN¥0.14 in 3Q 2023). Revenue: CN¥8.69b (up 8.8% from 3Q 2023). Net income: CN¥1.09b (up 66% from 3Q 2023). Profit margin: 13% (up from 8.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Renewable Energy 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 9% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 30
Shenergy Company Limited to Report Q3, 2024 Results on Oct 31, 2024 Shenergy Company Limited announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.23 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.21 (down from CN¥0.23 in 2Q 2023). Revenue: CN¥5.61b (down 15% from 2Q 2023). Net income: CN¥1.03b (down 7.3% from 2Q 2023). Profit margin: 18% (up from 17% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Renewable Energy industry in China. 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 5% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.7% to CN¥7.89. The fair value is estimated to be CN¥9.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 4.4% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Duyuru • Jun 28
Shenergy Company Limited to Report First Half, 2024 Results on Aug 31, 2024 Shenergy Company Limited announced that they will report first half, 2024 results on Aug 31, 2024 Declared Dividend • Jun 22
Dividend increased to CN¥0.40 Dividend of CN¥0.40 is 150% higher than last year. Ex-date: 26th June 2024 Payment date: 26th June 2024 Dividend yield will be 4.4%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (91% cash payout ratio). Duyuru • May 01
Shenergy Company Limited, Annual General Meeting, Jun 07, 2024 Shenergy Company Limited, Annual General Meeting, Jun 07, 2024, at 13:30 China Standard Time. Location: 4F, No. 8, Dong'an Road, Xuhui District, Shanghai China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.15 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.24 (up from CN¥0.15 in 1Q 2023). Revenue: CN¥8.07b (up 11% from 1Q 2023). Net income: CN¥1.16b (up 58% from 1Q 2023). Profit margin: 14% (up from 10% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 14% per year. Duyuru • Mar 30
Shenergy Company Limited to Report Q1, 2024 Results on Apr 30, 2024 Shenergy Company Limited announced that they will report Q1, 2024 results on Apr 30, 2024 Duyuru • Dec 29
Shenergy Company Limited to Report Fiscal Year 2023 Results on Apr 30, 2024 Shenergy Company Limited announced that they will report fiscal year 2023 results on Apr 30, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.069 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.069 in 3Q 2022). Revenue: CN¥7.99b (down 3.1% from 3Q 2022). Net income: CN¥656.7m (up 97% from 3Q 2022). Profit margin: 8.2% (up from 4.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.12 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.23 (up from CN¥0.12 in 2Q 2022). Revenue: CN¥6.62b (up 29% from 2Q 2022). Net income: CN¥1.11b (up 82% from 2Q 2022). Profit margin: 17% (up from 12% in 2Q 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Duyuru • Jun 28
Shenergy Company Limited to Report First Half, 2023 Results on Aug 30, 2023 Shenergy Company Limited announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.041 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.15 (up from CN¥0.041 in 1Q 2022). Revenue: CN¥7.28b (down 4.6% from 1Q 2022). Net income: CN¥734.0m (up 264% from 1Q 2022). Profit margin: 10% (up from 2.6% in 1Q 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. 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. 10 experienced directors. 2 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Liu Hao was the last independent director to join the board, commencing their role in 2016. 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 29
Third quarter 2022 earnings released: EPS: CN¥0.069 (vs CN¥0.17 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.069 (down from CN¥0.17 in 3Q 2021). Revenue: CN¥8.24b (up 26% from 3Q 2021). Net income: CN¥333.6m (down 60% from 3Q 2021). Profit margin: 4.0% (down from 13% in 3Q 2021). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 28
Second quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.14 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.14 in 2Q 2021). Revenue: CN¥5.13b (down 4.7% from 2Q 2021). Net income: CN¥611.5m (down 10% from 2Q 2021). Profit margin: 12% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 6.5%, compared to a 14% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buying Opportunity • Aug 11
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥7.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Earnings per share has declined by 6.3%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 277% in the next 2 years. Buying Opportunity • Jul 23
Now 20% undervalued Over the last 90 days, the stock is up 2.5%. The fair value is estimated to be CN¥7.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has grown by 4.2%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Buying Opportunity • Jun 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.6%. The fair value is estimated to be CN¥7.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has grown by 4.2%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Buying Opportunity • Jun 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be CN¥7.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Earnings per share has grown by 4.2%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.041 (vs CN¥0.18 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.041 (down from CN¥0.18 in 1Q 2021). Revenue: CN¥7.63b (up 28% from 1Q 2021). Net income: CN¥201.7m (down 77% from 1Q 2021). Profit margin: 2.6% (down from 15% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.2%, compared to a 9.5% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has remained flat, which means it is well ahead of earnings. 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). Independent Director Liu Hao was the last independent director to join the board, commencing their role in 2016. 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 • Apr 10
Full year 2021 earnings released: EPS: CN¥0.33 (vs CN¥0.49 in FY 2020) Full year 2021 results: EPS: CN¥0.33 (down from CN¥0.49 in FY 2020). Revenue: CN¥25.3b (up 28% from FY 2020). Net income: CN¥1.64b (down 31% from FY 2020). Profit margin: 6.5% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 5.7% compared to a 11% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥7.44, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 20x in the Renewable Energy industry in China. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥4.84 per share. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.17 (vs CN¥0.16 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥6.53b (up 40% from 3Q 2020). Net income: CN¥832.0m (up 4.6% from 3Q 2020). Profit margin: 13% (down from 17% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥6.47, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Renewable Energy industry in China. Total returns to shareholders of 54% over the past three years. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS CN¥0.14 (vs CN¥0.14 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥5.39b (up 40% from 2Q 2020). Net income: CN¥682.2m (down 2.9% from 2Q 2020). Profit margin: 13% (down from 18% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.18 (vs CN¥0.092 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥5.98b (up 12% from 1Q 2020). Net income: CN¥889.2m (up 96% from 1Q 2020). Profit margin: 15% (up from 8.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS CN¥0.49 (vs CN¥0.48 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥19.7b (down 49% from FY 2019). Net income: CN¥2.39b (up 4.6% from FY 2019). Profit margin: 12% (up from 5.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 11
New 90-day high: CN¥5.48 The company is up 3.0% from its price of CN¥5.34 on 11 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥71.63 per share. Is New 90 Day High Low • Jan 22
New 90-day low: CN¥5.14 The company is down 4.0% from its price of CN¥5.37 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 Renewable Energy industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥66.57 per share. Is New 90 Day High Low • Jan 04
New 90-day low: CN¥5.21 The company is down 5.0% from its price of CN¥5.50 on 30 September 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥71.01 per share. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥2.56b, up 14% from the prior year. Total revenue was CN¥24.3b over the last 12 months, down 36% from the prior year. Is New 90 Day High Low • Oct 21
New 90-day low: CN¥5.40 The company is down 5.0% from its price of CN¥5.71 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 Renewable Energy industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥33.92 per share. Is New 90 Day High Low • Sep 30
New 90-day low: CN¥5.50 The company is down 5.0% from its price of CN¥5.77 on 02 July 2020. The Chinese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥33.44 per share. 
