Upcoming Dividend • Jun 26
Upcoming dividend of CN¥0.20 per share Eligible shareholders must have bought the stock before 03 July 2026. Payment date: 20 August 2026. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (5.8%). Declared Dividend • Jun 08
Dividend of CN¥0.20 announced Shareholders will receive a dividend of CN¥0.20. Ex-date: 3rd July 2026 Payment date: 20th August 2026 Dividend yield will be 5.8%, which is lower than the industry average of 9.0%. Sustainability & Growth Dividend is covered by earnings (55% 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 30% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 05
China Suntien Green Energy Corporation Limited, Annual General Meeting, Jun 30, 2026 China Suntien Green Energy Corporation Limited, Annual General Meeting, Jun 30, 2026, at 09:30 China Standard Time. Location: conference room, 4/f, international hotel hebei, hebei province, shijiazhuang city, China Announcement • Apr 30
Hebei Construction & Investment Group Co.,Ltd entered into the Equity Transfer Contract to acquire remaining 55% stake in Hebei Natural Gas Co. Ltd. from China Suntien Green Energy Corporation Limited (SEHK:956) for CNY 24.6 million. Hebei Construction & Investment Group Co.,Ltd entered into the Equity Transfer Contract to acquire remaining 55% stake in Hebei Natural Gas Co. Ltd. from China Suntien Green Energy Corporation Limited (SEHK:956) for CNY 24.6 million on April 28, 2026. A cash consideration of CNY 24.62 million will be paid by Hebei Construction & Investment Group Co.,Ltd. Upon completion, Hebei Construction & Investment Group Co.,Ltd will own 100% stake in Hebei Natural Gas and China Suntien Green Energy will no
longer hold any equity interest in Hebei Natural Gas. The Group intends to use the proceeds to replenish working capital and for other general purposes, primarily including the payment of staff remuneration, property rental expenses, technical service fees,
etc.
For the period ending December 31, 2025, Hebei Natural Gas Co. Ltd. reported net loss of CNY 14.69 million. As of December 31, 2025, Hebei Natural Gas Co. Ltd. reported total assets of CNY 1.4 billion and total common equity of CNY 42.25 million. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.16 (vs CN¥0.23 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.16 (down from CN¥0.23 in 1Q 2025). Revenue: CN¥5.62b (down 19% from 1Q 2025). Net income: CN¥715.6m (down 25% from 1Q 2025). Profit margin: 13% (down from 14% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Major Estimate Revision • Apr 01
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥24.6b to CN¥21.2b. EPS estimate fell from CN¥0.594 to CN¥0.563 per share. Net income forecast to grow 41% next year vs 43% growth forecast for Oil and Gas industry in Hong Kong. Consensus price target broadly unchanged at HK$4.83. Share price fell 13% to HK$3.87 over the past week. Announcement • Mar 30
China Suntien Green Energy Corporation Limited to Report Q1, 2026 Results on Apr 29, 2026 China Suntien Green Energy Corporation Limited announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.43 (up from CN¥0.40 in FY 2024). Revenue: CN¥19.8b (down 7.2% from FY 2024). Net income: CN¥1.83b (up 10% from FY 2024). Profit margin: 9.2% (up from 7.8% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Dec 26
China Suntien Green Energy Corporation Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 China Suntien Green Energy Corporation Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.035 (vs CN¥0.017 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.035 (up from CN¥0.017 in 3Q 2024). Revenue: CN¥3.54b (down 3.0% from 3Q 2024). Net income: CN¥147.7m (up 91% from 3Q 2024). Profit margin: 4.2% (up from 2.1% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Sep 30
China Suntien Green Energy Corporation Limited to Report Q3, 2025 Results on Oct 31, 2025 China Suntien Green Energy Corporation Limited announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 28
Second quarter 2025 earnings released: EPS: CN¥0.11 (vs CN¥0.14 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.11 (down from CN¥0.14 in 2Q 2024). Revenue: CN¥3.99b (down 5.6% from 2Q 2024). Net income: CN¥457.5m (down 22% from 2Q 2024). Profit margin: 12% (down from 14% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Jun 30
China Suntien Green Energy Corporation Limited to Report First Half, 2025 Results on Aug 27, 2025 China Suntien Green Energy Corporation Limited announced that they will report first half, 2025 results on Aug 27, 2025 Announcement • Jun 27
China Suntien Green Energy Corporation Limited Approves Dividend for the Year Ended 31 December 2024, Payable on 20 August 2025 China Suntien Green Energy Corporation Limited at its annual general meeting held on 27 June 2025, The Company will distribute the Dividend of RMB 0.21 per share (tax inclusive) on for the year ended 31 December 2024, 20 August 2025 to the H Shareholders whose names appear on the register of members on 9 July 2025. According to the Articles of Association of the Company, for H Shareholders, the 2024 Dividend will be declared in Renminbi and paid in Hong Kong dollars. The actual amount of 2024 Dividend paid in Hong Kong dollars is calculated according to the average benchmark exchange rate of Renminbi against Hong Kong dollars as published by the People's Bank of China for the five business days preceding the date of AGM (i.e. RMB 1 against HKD 1.095242), being a final cash dividend of HKD 0.230001 per H share (tax inclusive). In order to determine the list of Shareholders entitled to the 2024 Dividend, the H shares register of members of the Company will be closed from 4 July 2025 to 9 July 2025 (both days inclusive), during which period, no transfer of H shares will be effected. Ex-dividend date is 02 July 2025. Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.21 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (7.4%). Lower than average of industry peers (8.5%). Announcement • Jun 05
China Suntien Green Energy Corporation Limited, Annual General Meeting, Jun 27, 2025 China Suntien Green Energy Corporation Limited, Annual General Meeting, Jun 27, 2025, at 09:30 China Standard Time. Location: conference room, 5/f, yun-ray ambassador hotel, shijiazhuang city, hebei province, China Reported Earnings • May 01
First quarter 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.20 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.23 (up from CN¥0.20 in 1Q 2024). Revenue: CN¥6.91b (down 13% from 1Q 2024). Net income: CN¥954.5m (up 15% from 1Q 2024). Profit margin: 14% (up from 11% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 7% 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. Major Estimate Revision • Apr 05
Consensus revenue estimates decrease by 13%, EPS upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from CN¥28.2b to CN¥24.6b. EPS estimate increased from CN¥0.576 to CN¥0.604 per share. Net income forecast to grow 54% next year vs 4.2% growth forecast for Oil and Gas industry in Hong Kong. Consensus price target broadly unchanged at HK$4.04. Share price was steady at HK$3.80 over the past week. Announcement • Mar 28
China Suntien Green Energy Corporation Limited to Report Q1, 2025 Results on Apr 30, 2025 China Suntien Green Energy Corporation Limited announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Mar 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.40 (down from CN¥0.51 in FY 2023). Revenue: CN¥21.4b (up 5.4% from FY 2023). Net income: CN¥1.67b (down 22% from FY 2023). Profit margin: 7.8% (down from 11% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Announcement • Dec 27
China Suntien Green Energy Corporation Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 China Suntien Green Energy Corporation Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.017 (vs CN¥0.015 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.017 (up from CN¥0.015 in 3Q 2023). Revenue: CN¥3.65b (up 19% from 3Q 2023). Net income: CN¥77.5m (up 14% from 3Q 2023). Profit margin: 2.1% (in line with 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • Oct 31
China Suntien Green Energy Corporation Limited Announces Resignation of Mei Chun Xiao as Executive Director The board of director of China Suntien Green Energy Corporation Limited announced that, due to changes in work arrangement, Mr. Mei Chun Xiao has tendered a written notice of resignation to the Board, for the resignation as an executive director of the Company and a member of the Strategic and Investment Committee under the Board. His resignation shall become effective upon the formal appointment of a new director by the Company. Mr. Mei Chun Xiao has confirmed that he has no disagreement with the Board and there are no matters that need to be brought to the attention of the shareholders of the Company. Announcement • Sep 30
China Suntien Green Energy Corporation Limited to Report Q3, 2024 Results on Oct 31, 2024 China Suntien Green Energy Corporation Limited announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$3.65, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total loss to shareholders of 40% over the past three years. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.14 (vs CN¥0.14 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.14 (down from CN¥0.14 in 2Q 2023). Revenue: CN¥4.23b (up 21% from 2Q 2023). Net income: CN¥597.5m (flat on 2Q 2023). Profit margin: 14% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. 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 14% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Jul 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to HK$3.65. The fair value is estimated to be HK$3.01, 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 declined by 3.0%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Jun 28
China Suntien Green Energy Corporation Limited to Report First Half, 2024 Results on Aug 29, 2024 China Suntien Green Energy Corporation Limited announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Jun 08
China Suntien Green Energy Corporation Limited Approves Final Dividend for the Year Ended 31 December 2023, Payable on 31 July 2024 China Suntien Green Energy Corporation Limited approved final dividend of RMB 2.14 per 10 share for the year ended 31 December 2023, payable on 31 July 2024. Record date is 19 June 2024. Ex-dividend date is 12 June 2024. Date of shareholders' approval is 07 June 2024. Upcoming Dividend • Jun 05
Upcoming dividend of CN¥0.21 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 6.0%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (6.4%). Announcement • May 19
China Suntien Green Energy Corporation Limited, Annual General Meeting, Jun 07, 2024 China Suntien Green Energy Corporation Limited, Annual General Meeting, Jun 07, 2024, at 09:30 China Standard Time. Location: conference room, 5/f, yun-ray ambassador hotel, shijiazhuang city, hebei province, the prc, China Buy Or Sell Opportunity • May 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to HK$3.62. The fair value is estimated to be HK$3.00, 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 declined by 3.0%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.20 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.20 (in line with 1Q 2023). Revenue: CN¥7.91b (up 21% from 1Q 2023). Net income: CN¥832.1m (flat on 1Q 2023). Profit margin: 11% (down from 13% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$3.42, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.96 per share. Major Estimate Revision • Apr 02
Consensus revenue estimates increase by 16%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥22.3b to CN¥25.9b. EPS estimate fell from CN¥0.65 to CN¥0.578. Net income forecast to grow 12% next year vs 12% growth forecast for Oil and Gas industry in Hong Kong. Consensus price target broadly unchanged at HK$3.84. Share price rose 8.0% to HK$3.12 over the past week. Announcement • Mar 30
China Suntien Green Energy Corporation Limited to Report Q1, 2024 Results on Apr 26, 2024 China Suntien Green Energy Corporation Limited announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥0.51 (down from CN¥0.53 in FY 2022). Revenue: CN¥20.3b (up 9.3% from FY 2022). Net income: CN¥2.21b (down 1.1% from FY 2022). Profit margin: 11% (down from 12% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 4.8%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat. Announcement • Mar 26
China Suntien Green Energy Corporation Limited Announces Final Ordinary Dividend for the Year Ended 31 December 2023 China Suntien Green Energy Corporation Limited announced final ordinary dividend of RMB 2.14 per 10 share for the year ended 31 December 2023. Announcement • Jan 27
China Suntien Green Energy Corporation Limited Announces Change of President The board of directors of China Suntien Green Energy Corporation Limited announced that Mr. Mei Chun Xiao, the president of the Company, has tendered to the Board his resignation from the position of president of the Company due to the adjustment of work arrangements, with effect from 26 January 2024. Mr. Mei has confirmed that he has no disagreement with the Board and there are no other matters with respect to his resignation that need to be brought to the attention of the Company's shareholders. As resolved by the Board, the Company has appointed Mr. Tan Jianxin to take over the position of president of the Company, with effect from 26 January 2024. Mr. Tan Jian Xin, aged 44, is currently the secretary of Party Committee and President of the Company. He obtained a master's degree in Mechanical Electronic Engineering from North China Electric Power University and is a principal senior engineer. Mr. Tan also serves as a director of each of HECIC Guo Rong Energy Service Co. Ltd. and HECIC AVIC Saihan Green Energy Technology Development Co. Ltd., both of which are subsidiaries of Hebei Construction & Investment Group Co. Ltd., the controlling shareholder of the Company, and the secretary of Party Committee and general manager of HECIC New Energy Co. Ltd., a subsidiary of the Company. Mr. Tan has more than 17 years of investment management experience in the new energy industry. He joined the Group in October 2006 and has successively served as deputy secretary of Party Committee and Vice President of the Company, deputy general manager, assistant to the general manager and manager of the engineering management department of HECIC New Energy Co. Ltd. secretary of the Party general branch of Hebei Suntien Kechuang New Energy Technology Co. Ltd., general manager of HECIC Yuzhou Wind Energy Co. Ltd., and general manager of Yu County Suntien Wind Energy Co. Ltd. Announcement • Dec 30
China Suntien Green Energy Corporation Limited Announces Director Resignations China Suntien Green Energy Corporation Limited announced that Mr. Wang Hong Jun has recently tendered a written notice of resignation to the Board, applying for his resignation as an executive director of the Company and a member of the Strategic and Investment Committee as he has reached the retirement age. His resignation shall become effective upon the formal appointment of a new executive director by the Company to fill his vacancy. Mr. Wan Yim Keung, Daniel has recently tendered a written notice of resignation to the Board, applying for the resignation as an INED and a member of the Audit Committee, the Nomination Committee, and the Remuneration and Appraisal Committee of the Company as he would like to devote more time to other commitments. His resignation shall become effective upon the formal appointment of a new INED by the Company to fill his vacancy. Announcement • Dec 29
China Suntien Green Energy Corporation Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 China Suntien Green Energy Corporation Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.015 (vs CN¥0.011 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.015 (up from CN¥0.011 in 3Q 2022). Revenue: CN¥3.08b (up 9.0% from 3Q 2022). Net income: CN¥67.9m (up 37% from 3Q 2022). Profit margin: 2.2% (up from 1.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 1.0% decline forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.16 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.14 (down from CN¥0.16 in 2Q 2022). Revenue: CN¥3.49b (down 10% from 2Q 2022). Net income: CN¥599.0m (down 12% from 2Q 2022). Profit margin: 17% (in line with 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Oil and Gas industry in Hong Kong. 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 11% per year. Announcement • Jun 28
China Suntien Green Energy Corporation Limited to Report First Half, 2023 Results on Aug 30, 2023 China Suntien Green Energy Corporation Limited announced that they will report first half, 2023 results on Aug 30, 2023 Upcoming Dividend • May 11
Upcoming dividend of CN¥0.19 per share at 6.5% yield Eligible shareholders must have bought the stock before 18 May 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 6.5%. Lower than top quartile of Hong Kong dividend payers (7.4%). Lower than average of industry peers (9.4%). Announcement • May 06
China Suntien Green Energy Corporation Limited Proposes Final Dividend for the Financial Year End December 31, 2022, Payable on July 31, 2023 China Suntien Green Energy Corporation Limited proposed final dividend of RMB 1.93 per 10 share for the financial year end December 31, 2022. Ex-dividend date 18 May 2023, Record date 24 May 2023 and Payment date 31 July 2023. Date of shareholders' approval is 16 May 2023. Reported Earnings • Mar 24
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥0.53. Revenue: CN¥18.6b (up 16% from FY 2021). Net income: CN¥2.29b (up 11% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 2.8% decline forecast for the Oil and Gas industry in Hong Kong. Board Change • Nov 16
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 Ying Jun Guo was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released Third quarter 2022 results: Net income: CN¥50.0m (up CN¥50.0m from 3Q 2021). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.3% decline forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.26 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.16 (down from CN¥0.26 in 2Q 2021). Revenue: CN¥3.89b (down 28% from 2Q 2021). Net income: CN¥679.1m (down 33% from 2Q 2021). Profit margin: 18% (down from 19% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 6.6%, compared to a 6.3% growth forecast for the Oil and Gas industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 09
Upcoming dividend of CN¥0.17 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (9.5%). Board Change • Apr 27
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, 4 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Ying Jun Guo was the last independent director to join the board, commencing their role in 2020. 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 • Mar 15
Investor sentiment deteriorated over the past week After last week's 19% share price decline to HK$3.71, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.71 per share. Buying Opportunity • Mar 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be CN¥6.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% per annum over the last 3 years. Earnings per share has grown by 13% per annum over the last 3 years. Buying Opportunity • Feb 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be CN¥5.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% per annum over the last 3 years. Earnings per share has grown by 13% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$6.47, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 304% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$7.65 per share. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improved over the past week After last week's 25% share price gain to HK$7.55, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 336% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$7.02 per share. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 20% share price gain to HK$5.44, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 205% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$6.33 per share. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥4.27, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Oil and Gas industry in Hong Kong. Total returns to shareholders of 127% over the past three years. 