Board Change • May 20
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, none were independent directors. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Non-Executive Director Maggie Chan was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • Mar 26
Beijing Enterprises Holdings Limited, Annual General Meeting, May 28, 2026 Beijing Enterprises Holdings Limited, Annual General Meeting, May 28, 2026. Duyuru • Mar 12
Beijing Enterprises Holdings Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 Beijing Enterprises Holdings Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 Duyuru • Aug 15
Beijing Enterprises Holdings Limited to Report First Half, 2025 Results on Aug 28, 2025 Beijing Enterprises Holdings Limited announced that they will report first half, 2025 results on Aug 28, 2025 Duyuru • Jun 05
Beijing Enterprises Holdings Limited Approves Final Dividend or the Year Ended 31 December 2024, Payable on August 8, 2025 Beijing Enterprises Holdings Limited at its AGM held on June 5, 2025 approved the final dividend for the year ended 31 December 2024 will be paid in cash on 8 August 2025 to each Shareholder whose name appears on the register of members of the Company as at 17 June 2025. Shareholders can also make an election to receive all of the 2024 Final Dividend in Renminbi ("RMB") (the Company only arranges for Shareholders to receive all of the 2024 Final Dividend in RMB, save in case of HKSCC Nominees Limited, which may elect to receive part of its entitlement in RMB). If an election is made, the 2024 Final Dividend will be converted into RMB at the exchange rate of HKD 1.0:RMB 0.916522, being the average benchmark exchange rate of HKD to RMB announced by the People's Bank of China for the five business days prior to and including the date of the AGM, and such dividend will be paid at RMB 0.7057219 per share. Duyuru • Mar 13
Beijing Enterprises Holdings Limited to Report Fiscal Year 2024 Results on Mar 27, 2025 Beijing Enterprises Holdings Limited announced that they will report fiscal year 2024 results on Mar 27, 2025 Duyuru • Dec 31
Beijing Enterprises Holdings Limited Announces Change of Executive Directors, Company Secretary The board of directors of Beijing Enterprises Holdings Limited announced that as Mr. JIANG Xinhao has reached his retirement age, he has tendered his resignation as an Executive Director and the Vice Chairman of the Board of the Company and ceased to be a Member of the Investment The Board also announces that as Mr. TAM Chun Fai has reached his retirement age, he has tendered his resignation as an Executive Director and the Company Secretary of the Company. The Board further announces that Mr. TUNG Woon Cheung Eric ("Mr. Tung") has been appointed as an Executive Director and the Company Secretary of the Company and the Authorised Representative with effect from 1 January 2025. Mr. TUNG Woon Cheung Eric, aged 54, serves as an Executive Director, the Chief Financial Officer and Company Secretary of Beijing Enterprises Water Group Limited. Mr. Tung graduated from York University, Toronto, Canada with a bachelor's honours degree in administrative studies. He is a Hong Kong Certified Public Accountant and a U.S. licensed practice Certified Public Accountant. He is currently an Independent Non-executive Director of South China Financial Holdings Limited (stock code: 619), GR Life Style Company Limited (formerly known as GR Properties Limited) (stock code: 108) and Jinke Smart Services Group Co. Ltd. (stock code: 9666). Mr. Tung joined the Company in June 2000. Declared Dividend • Sep 01
First half dividend of HK$0.85 announced Shareholders will receive a dividend of HK$0.85. Ex-date: 11th September 2024 Payment date: 1st November 2024 Dividend yield will be 32%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (38% 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 8.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 57% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 30
First half 2024 earnings released: EPS: CN¥2.50 (vs CN¥3.32 in 1H 2023) First half 2024 results: EPS: CN¥2.50 (down from CN¥3.32 in 1H 2023). Revenue: CN¥42.3b (down 2.8% from 1H 2023). Net income: CN¥3.15b (down 25% from 1H 2023). Profit margin: 7.4% (down from 9.6% in 1H 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Gas Utilities industry in Europe. 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 2% per year, which means it has not declined as severely as earnings. Duyuru • Aug 29
Beijing Enterprises Holdings Limited Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 01 November 2024 Beijing Enterprises Holdings Limited announced interim dividend of HKD 0.85 per share for the six months ended 30 June 2024. Ex-dividend date is 11 September 2024. Record date is 16 September 2024. Payment date is 01 November 2024. Duyuru • Aug 15
Beijing Enterprises Holdings Limited to Report First Half, 2024 Results on Aug 29, 2024 Beijing Enterprises Holdings Limited announced that they will report first half, 2024 results on Aug 29, 2024 Duyuru • Jun 08
Beijing Enterprises Holdings Limited Approves Final Cash Dividend for the Year Ended December 31, 2023, Payable on 9 August 2024 Beijing Enterprises Holdings Limited approved the final dividend of HKD 0.67 per share for the year ended 31 December 2023 (the "2023 Final Dividend") will be paid in cash in Hong Kong dollars on 9 August 2024 to each shareholder whose name appears on the register of members of the Company as at 17 June 2024, unless an election is made by such shareholder to receive all (but not part) of the 2023 Final Dividend in Renminbi ("RMB"). If an election is made, the 2023 Final Dividend will be converted into RMB at the exchange rate of HKD 1.0: RMB 0.90963, being the average benchmark exchange rate of HKD to RMB announced by the People's Bank of China for the five business days prior to and including the date of the AGM, and such dividend will be paid at RMB 0.6094521 per share. To make such election, shareholders should complete the dividend currency election form, which is expected to be despatched to shareholders on or about 25 June 2024, and return it to the share registrar of the Company, Tricor Tengis Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong, not later than 4:30 p.m. on 10 July 2024. If no election is made by a shareholder or no duly completed dividend currency election form in respect of that shareholder is received by the Company's share registrar by the deadline mentioned above, such shareholder will automatically receive the 2023 Final Dividend in HK$. Upcoming Dividend • Jun 04
Upcoming dividend of HK$0.67 per share Eligible shareholders must have bought the stock before 11 June 2024. Payment date: 09 August 2024. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.5%). Reported Earnings • May 02
Full year 2023 earnings released: EPS: CN¥4.36 (vs CN¥5.16 in FY 2022) Full year 2023 results: EPS: CN¥4.36 (down from CN¥5.16 in FY 2022). Revenue: CN¥82.3b (up 3.7% from FY 2022). Net income: CN¥5.50b (down 16% from FY 2022). Profit margin: 6.7% (down from 8.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €2.72, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 12x in the Gas Utilities industry in Europe. Total returns to shareholders of 13% over the past three years. New Risk • Mar 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Duyuru • Mar 14
Beijing Enterprises Holdings Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Beijing Enterprises Holdings Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Board Change • Nov 02
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. 5 non-independent directors. Independent Non-Executive Director Maggie Chan 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 • Oct 27
Beijing Enterprises Holdings Limited Announces Executive Changes with Effect from October 26, 2023 Beijing Enterprises Holdings Limited announced that due to the change in work arrangements, Mr. DAI Xiaofeng has tendered his resignation as Executive Director and Chairman of the Board of the Company and ceased to be Member of the Remuneration Committee, Chairman of the Nomination Committee, Chairman of the Investment Committee of the Company and an authorised representative of the Company with effect from 26 October 2023. The Board further announces that Mr. YANG Zhichang has been appointed as Executive Director and Chairman of the Board, Member of the Remuneration Committee, Chairman of the Nomination Committee and Chairman of the Investment Committee of the Company and the Authorised Representative with effect from 26 October 2023. Mr. YANG Zhichang, aged 53, also serves as Vice General Manager of Beijing Enterprises Group Company Limited. Mr. Yang graduated from the department of management engineering of Beijing University of Posts and Telecommunications with posts and telecommunications management engineering qualification in 1991 and obtains a doctorate degree in management from the department of industrial economics from Chinese Social Science Post-graduate Faculty with enterprise management qualification in 2009. He worked at Beijing University of Posts and Telecommunications from 1991 to 2001. He was a deputy general manager of the sales department of Beijing Oriental Plaza of China Southern Securities Co. from 2001 to 2002. He was a director and vice president of Beijing Zhengtong Network Communication Co. Ltd. from 2002 to 2006. He was a manager of the investment development department of Beijing Holdings Limited from 2006 to 2010. From 2010 to 2019, he was a manager of the strategic development department, a manager and an assistant to general manager of the reform and development department of BE Group. From 2019 to 2022, he was an assistant to general manager of BE Group and a director and a general manager of BHL. He has been a Vice General Manager of BE Group since 2022. Upcoming Dividend • Sep 15
Upcoming dividend of HK$0.93 per share at 7.3% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 7.3%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (5.0%). Duyuru • Aug 31
Beijing Enterprises Holdings Limited Approves Interim Dividend for the Six Months Ended 30 June 2023, Payable on 27 October 2023 Beijing Enterprises Holdings Limited approved interim dividend of HKD 0.93 per share for the six months ended 30 June 2023. Ex-dividend date is 22 September 2023. Record date is 28 September 2023. Payment date is 27 October 2023. Reported Earnings • Aug 31
First half 2023 earnings released: EPS: HK$3.69 (vs HK$3.99 in 1H 2022) First half 2023 results: EPS: HK$3.69 (down from HK$3.99 in 1H 2022). Revenue: HK$48.4b (up 5.2% from 1H 2022). Net income: HK$4.65b (down 7.6% from 1H 2022). Profit margin: 9.6% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Duyuru • Aug 18
Beijing Enterprises Holdings Limited to Report First Half, 2023 Results on Aug 30, 2023 Beijing Enterprises Holdings Limited announced that they will report first half, 2023 results on Aug 30, 2023 Board Change • Jul 18
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. 5 non-independent directors. Independent Non-Executive Director Maggie Chan 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 • Jul 08
Beijing Enterprises Holdings Limited Announces Appointment of GENG Chao as Executive Director The board of directors of Beijing Enterprises Holdings Limited announced that Mr. GENG Chao has been appointed as Executive Director of the Company with effect from 8 July 2023. Mr. GENG Chao, aged 48, also serves as the chairman of and the chairman of Beijing Yanjing Brewery Co. Ltd. Mr. Geng graduated from the Liberation Army Engineer Corps Engineering Institute with construction engineering qualification in 1998 and obtain a master's degree in law from Peking University in 2009. He worked at the Policy and Regulation Division and Comprehensively Deepening the Reform of Municipal State- owned Enterprises Work Office of the State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality from 2004 to 2018. He served as Director of the State-owned Assets Supervision and Administration Commission of People's Government of Shunyi District, Beijing Municipality from 2018 to 2020. Upcoming Dividend • Jun 23
Upcoming dividend of HK$1.10 per share at 5.4% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 24 July 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.7%). Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: HK$6.00 (vs HK$7.86 in FY 2021) Full year 2022 results: EPS: HK$6.00 (down from HK$7.86 in FY 2021). Revenue: HK$92.3b (up 15% from FY 2021). Net income: HK$7.57b (down 24% from FY 2021). Profit margin: 8.2% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 1.4% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 3% per year. Upcoming Dividend • Sep 15
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 27 October 2022. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.8%). Reported Earnings • Sep 01
First half 2022 earnings released: EPS: HK$3.99 (vs HK$5.00 in 1H 2021) First half 2022 results: EPS: HK$3.99 (down from HK$5.00 in 1H 2021). Revenue: HK$46.0b (up 14% from 1H 2021). Net income: HK$5.03b (down 20% from 1H 2021). Profit margin: 11% (down from 16% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 15% decline forecast for the Gas Utilities industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Duyuru • Aug 24
Beijing Enterprises Holdings Limited to Report First Half, 2022 Results on Aug 31, 2022 Beijing Enterprises Holdings Limited announced that they will report first half, 2022 results on Aug 31, 2022 Duyuru • Jul 12
Beijing Enterprises Holdings Limited Announces Executive Changes The board of directors (the "Board") of Beijing Enterprises Holdings Limited announced that Due to retirement, Mr. LI Yongcheng has tendered his resignation as Executive Director, Chairman of the Board, Member of the Remuneration Committee, Chairman of the Nomination Committee and Chairman of the Investment Committee; Mr. DAI Xiaofeng, being Executive Director of the Company, has been re- designated as Executive Director and Chairman of the Board, Member of the Remuneration Committee, Chairman of the Nomination Committee and Chairman of the Investment Committee. The abovementioned Board changes will take effect on 11 July 2022. Upcoming Dividend • Jul 01
Upcoming dividend of HK$0.85 per share Eligible shareholders must have bought the stock before 08 July 2022. Payment date: 26 July 2022. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of German dividend payers (4.5%). Lower than average of industry peers (5.2%). Duyuru • Apr 28
Beijing Enterprises Holdings Limited Announces Resignation of Zhao Xiaodong as Executive Director and Vice Chairman of the Board The board of directors of Beijing Enterprises Holdings Limited announced that due to adjustment of personal work positions, Mr. ZHAO Xiaodong has tendered his resignation as Executive Director and Vice Chairman of the Board of the Company with effect from 26 April 2022. Board Change • Apr 27
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. 6 non-independent directors. Independent Non-Executive Director Sun Say Yu was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 01
Beijing Enterprises Holdings Limited, Annual General Meeting, Jun 17, 2022 Beijing Enterprises Holdings Limited, Annual General Meeting, Jun 17, 2022. Agenda: To consider the payment of a final dividend of HKD 85 cents per share for the year ended 31 December 2021. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: HK$7.86 (vs HK$4.19 in FY 2020) Full year 2021 results: EPS: HK$7.86 (up from HK$4.19 in FY 2020). Revenue: HK$80.4b (up 18% from FY 2020). Net income: HK$9.92b (up 88% from FY 2020). Profit margin: 12% (up from 7.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 1.7% compared to a 4.6% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Duyuru • Apr 01
Beijing Enterprises Holdings Limited Declares Final Dividend for the Financial Year Ended 31 December 2021, Payable on 26 July 2022 Beijing Enterprises Holdings Limited declared final dividend of HKD 0.85 per share for the financial year ended 31 December 2021. Ex-dividend date is 8 July 2022. Record date is 15 July 2022. Payment date is 26 July 2022. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €2.48, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 13x in the Gas Utilities industry in Europe. Total loss to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 18% share price gain to €3.28, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 13x in the Gas Utilities industry in Europe. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.71 per share. Reported Earnings • Sep 03
First half 2021 earnings released: EPS HK$5.00 (vs HK$2.83 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$40.4b (up 26% from 1H 2020). Net income: HK$6.32b (up 77% from 1H 2020). Profit margin: 16% (up from 11% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 10% per year. Upcoming Dividend • Jul 01
Upcoming dividend of HK$0.74 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 26 July 2021. Trailing yield: 4.1%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (6.0%). Executive Departure • Jun 08
Independent Non-Executive Director Chi Ching Sze has left the company On the 1st of June, Chi Ching Sze's tenure as Independent Non-Executive Director ended after 8.2 years in the role. We don't have any record of a personal shareholding under Chi Ching's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.33 years. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS HK$4.19 (vs HK$6.38 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: HK$68.4b (flat on FY 2019). Net income: HK$5.29b (down 34% from FY 2019). Profit margin: 7.7% (down from 12% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% 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 02
Full year 2020 earnings released: EPS HK$4.19 (vs HK$6.38 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: HK$68.4b (flat on FY 2019). Net income: HK$5.29b (down 34% from FY 2019). Profit margin: 7.7% (down from 12% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Duyuru • Mar 20
Beijing Enterprises Holdings Limited to Report Fiscal Year 2020 Results on Mar 31, 2021 Beijing Enterprises Holdings Limited announced that they will report fiscal year 2020 results on Mar 31, 2021 Executive Departure • Feb 03
Chairman & CEO Zibo Hou has left the company On the 2nd of February, Zibo Hou's tenure as Chairman & CEO of the company ended after 3.4 years in the role. We don't have any record of a personal shareholding under Zibo's name. Zibo is the only executive to leave the company over the last 12 months. Under Zibo's leadership, the company delivered a total shareholder return of -33%. Is New 90 Day High Low • Jan 20
New 90-day high: €2.98 The company is up 16% from its price of €2.58 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.16 per share. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total profits of HK$6.88b, down 15% from the prior year. Total revenue was HK$65.6b over the last 12 months, down 3.1% from the prior year. Is New 90 Day High Low • Sep 25
New 90-day low: €2.58 The company is down 15% from its price of €3.02 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Gas Utilities industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.05 per share. Duyuru • Aug 12
Beijing Enterprises Holdings Limited to Report First Half, 2020 Results on Aug 31, 2020 Beijing Enterprises Holdings Limited announced that they will report first half, 2020 results on Aug 31, 2020 
