Upcoming Dividend • May 21
Upcoming dividend of HK$0.31 per share Eligible shareholders must have bought the stock before 28 May 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (2.8%). Reported Earnings • Apr 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.56 (up from CN¥0.54 in FY 2024). Revenue: CN¥26.3b (up 6.3% from FY 2024). Net income: CN¥1.14b (up 3.7% from FY 2024). Profit margin: 4.3% (down from 4.4% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 8.5%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Declared Dividend • Mar 26
Dividend of HK$0.31 announced Shareholders will receive a dividend of HK$0.31. Ex-date: 28th May 2026 Payment date: 29th June 2026 Dividend yield will be 2.9%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 69% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 25
CIMC Enric Holdings Limited announces Annual dividend, payable on June 29, 2026 CIMC Enric Holdings Limited announced Annual dividend of HKD 0.3100 per share payable on June 29, 2026, ex-date on May 28, 2026 and record date on May 29, 2026. Reported Earnings • Mar 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.56 (up from CN¥0.54 in FY 2024). Revenue: CN¥26.3b (up 6.3% from FY 2024). Net income: CN¥1.14b (up 3.7% from FY 2024). Profit margin: 4.3% (down from 4.4% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 8.5%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Mar 24
CIMC Enric Holdings Limited, Annual General Meeting, May 20, 2026 CIMC Enric Holdings Limited, Annual General Meeting, May 20, 2026. Announcement • Mar 12
CIMC Enric Holdings Limited to Report Fiscal Year 2025 Results on Mar 24, 2026 CIMC Enric Holdings Limited announced that they will report fiscal year 2025 results at 12:30 PM, China Standard Time on Mar 24, 2026 Announcement • Jan 27
CIMC Enric Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 780.263 million. CIMC Enric Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 780.263 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 79,700,000
Price\Range: HKD 9.79
Discount Per Security: HKD 0.06853
Transaction Features: Subsequent Direct Listing Announcement • Jan 20
CIMC Enric Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 780.263 million. CIMC Enric Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 780.263 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 79,700,000
Price\Range: HKD 9.79
Discount Per Security: HKD 0.06853
Transaction Features: Subsequent Direct Listing Buy Or Sell Opportunity • Jan 20
Now 21% undervalued Over the last 90 days, the stock has risen 31% to HK$10.30. The fair value is estimated to be HK$12.96, 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 2.9%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Buy Or Sell Opportunity • Oct 30
Now 20% undervalued Over the last 90 days, the stock has risen 14% to HK$7.56. The fair value is estimated to be HK$9.49, 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 2.9%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Reported Earnings • Aug 27
First half 2025 earnings released: EPS: CN¥0.28 (vs CN¥0.24 in 1H 2024) First half 2025 results: EPS: CN¥0.28 (up from CN¥0.24 in 1H 2024). Revenue: CN¥12.6b (up 9.9% from 1H 2024). Net income: CN¥562.1m (up 16% from 1H 2024). Profit margin: 4.5% (up from 4.2% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jun 03
CIMC Enric Holdings Limited to Report Q2, 2025 Results on Sep 06, 2025 CIMC Enric Holdings Limited announced that they will report Q2, 2025 results at 4:00 PM, China Standard Time on Sep 06, 2025 Announcement • May 21
CIMC Enric Holdings Limited Declares Final Dividend in Respect of 2024 CIMC Enric Holdings Limited at its AGM held on May 20, 2025, declared a final dividend in respect of 2024 of HKD 0.30 per ordinary share. Upcoming Dividend • May 20
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 27 May 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.9%). Reported Earnings • Apr 24
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.54 (down from CN¥0.55 in FY 2023). Revenue: CN¥24.8b (up 4.8% from FY 2023). Net income: CN¥1.09b (down 1.7% from FY 2023). Profit margin: 4.4% (down from 4.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Apr 13
Non-Executive Chairman recently bought HK$2.9m worth of stock On the 8th of April, Xiang Gao bought around 500k shares on-market at roughly HK$5.79 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Xiang's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$5.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Machinery industry in Hong Kong. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$10.26 per share. Announcement • Apr 07
Cimc-Hexagon Delivers First Type Iv High-Pressure Hydrogen Cylinders to Europe CIMC-Hexagon, a joint venture company of CIMC Enric Holdings Limited and Hexagon Purus producing hydrogen cylinder and systems solutions for mobility and infrastructure applications in China and Southeast Asia, has delivered its first batch of Type IV high-pressure hydrogen cylinders for use in Hexagon Purus' hydrogen distribution modules in Europe. CIMC-Hexagon has obtained European TPED (Transportable Pressure Equipment Directive) certification allowing for delivery of hydrogen storage solutions to the European market. Consequently, the newly completed cylinder manufacturing facility in Shijiazhuang is now ramping up with production of 380 bar distribution cylinders intended for customers in Europe. This initial ramp-up phase is an important step in achieving certification for Type IV high-pressure hydrogen cylinder for the domestic Chinese market. Type IV hydrogen storage vessels are characterized by lightweight design, high pressure tolerance, superior hydrogen storage density, corrosion resistance, and extended lifespan, making it the preferred hydrogen technology for bulk hauling and onboard storage in mobility applications. The Chinese market has relied predominantly on Type III cylinder technology for storage of hydrogen onboard mobility applications. In June 2024, China officially implemented domestic production standards for Type IV cylinders, enabling localized manufacturing and sales, which will accelerate the commercialization of Type IV cylinder technology. CIMC-H Exagon is currently going through the process to achieve Chinese certification and to scale up production to meet the growing demand in China and Southeast Asia. Major Estimate Revision • Apr 02
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥30.7b to CN¥28.3b. EPS estimate also fell from CN¥0.703 per share to CN¥0.632 per share. Net income forecast to grow 18% next year vs 18% growth forecast for Machinery industry in Hong Kong. Consensus price target broadly unchanged at HK$8.16. Share price fell 5.1% to HK$6.65 over the past week. Declared Dividend • Mar 27
Dividend of HK$0.30 announced Shareholders will receive a dividend of HK$0.30. Ex-date: 27th May 2025 Payment date: 25th July 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 65% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 26
CIMC Enric Holdings Limited announces Annual dividend, payable on July 25, 2025 CIMC Enric Holdings Limited announced Annual dividend of HKD 0.3000 per share payable on July 25, 2025, ex-date on May 27, 2025 and record date on May 28, 2025. Reported Earnings • Mar 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.54 (down from CN¥0.55 in FY 2023). Revenue: CN¥24.8b (up 4.8% from FY 2023). Net income: CN¥1.09b (down 1.7% from FY 2023). Profit margin: 4.4% (down from 4.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Mar 26
CIMC Enric Holdings Limited, Annual General Meeting, May 20, 2025 CIMC Enric Holdings Limited, Annual General Meeting, May 20, 2025. Announcement • Mar 13
CIMC Enric Holdings Limited to Report Fiscal Year 2024 Results on Mar 25, 2025 CIMC Enric Holdings Limited announced that they will report fiscal year 2024 results on Mar 25, 2025 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$6.87, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Machinery industry in Hong Kong. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$7.78 per share. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.28 in 1H 2023) First half 2024 results: EPS: CN¥0.24 (down from CN¥0.28 in 1H 2023). Revenue: CN¥11.5b (up 6.7% from 1H 2023). Net income: CN¥486.1m (down 14% from 1H 2023). Profit margin: 4.2% (down from 5.3% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Aug 09
CIMC Enric Holdings Limited to Report First Half, 2024 Results on Aug 22, 2024 CIMC Enric Holdings Limited announced that they will report first half, 2024 results on Aug 22, 2024 Announcement • May 23
CIMC Enric Holdings Limited Approves Final Dividend in Respect of 2023 CIMC Enric Holdings Limited at its AGM held on May 20, 2024 approved to declare a final dividend in respect of 2023 of HKD 0.30 per ordinary share. Upcoming Dividend • May 20
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 27 May 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (3.0%). Announcement • Apr 21
CIMC Enric Holdings Limited, Annual General Meeting, May 20, 2024 CIMC Enric Holdings Limited, Annual General Meeting, May 20, 2024, at 15:00 China Standard Time. Location: Room 2102, 21/F, World Wide House 19 Des Voeux Road Central, Central Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the directors and independent auditor's reports for the year ended 31 December 2023; to declare a final dividend in respect of 2023 of HKD0.30 per ordinary share; to consider the re-election of the Directors; to authorize the board of directors to fix the remuneration of directors; to appoint KPMG as auditor of the Company and to authorize the board of directors to fix the remuneration of auditor; and to consider other matters. Major Estimate Revision • Apr 01
Consensus revenue estimates increase by 10%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from CN¥25.3b to CN¥27.9b. EPS estimate fell from CN¥0.694 to CN¥0.657. Net income forecast to grow 21% next year vs 20% growth forecast for Machinery industry in Hong Kong. Consensus price target broadly unchanged at HK$9.83. Share price rose 9.3% to HK$7.96 over the past week. Declared Dividend • Mar 27
Dividend of HK$0.30 announced Shareholders will receive a dividend of HK$0.30. Ex-date: 27th May 2024 Payment date: 28th June 2024 Dividend yield will be 4.1%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 26
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥0.55 (up from CN¥0.53 in FY 2022). Revenue: CN¥23.6b (up 21% from FY 2022). Net income: CN¥1.11b (up 5.6% from FY 2022). Profit margin: 4.7% (down from 5.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Machinery 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 9% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 18
Now 24% overvalued The stock has been flat over the last 90 days, currently trading at HK$6.86. The fair value is estimated to be HK$5.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Announcement • Mar 14
CIMC Enric Holdings Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 CIMC Enric Holdings Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 Buy Or Sell Opportunity • Mar 01
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at HK$6.65. The fair value is estimated to be HK$5.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Buy Or Sell Opportunity • Jan 25
Now 25% overvalued Over the last 90 days, the stock has fallen 7.3% to HK$6.43. The fair value is estimated to be HK$5.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Announcement • Aug 25
CIMC Enric Holdings Limited Announces Board Changes CIMC Enric Holdings Limited announces that Ms. Yien Yu Yu, Catherine ("Ms. Yien") has resigned as an independent non-executive Director, and ceased to be the chairman of the audit committee of the Company (the "Audit Committee") with effect from 24 August 2023 due to her desire to pursue a new career development. The Board announce that Ms. Wong Lai, Sarah ("Ms. Wong") has been appointed as an independent non-executive Director and the chairman of the Audit Committee (collectively the "Appointments") with effect from 24 August 2023. Ms. Wong Lai, Sarah, aged 45, has over 20 years of experience in corporate finance, capital markets, initial public offerings, mergers and acquisitions and placement projects. Ms. Wong is currently serving as a partner at Transpac Capital Limited, a private equity firm licensed under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO") where she is mainly responsible for managing merger and acquisition projects and investor relationship. She had previously served as the deputy head of Investment Banking Division and head of Coverage and Financial Sponsors of the group of Guotai Junan International Holdings Limited (a company listed on the Stock Exchange in Hong Kong, head of Financial Sponsor team under the Global Coverage Department of BOC International; senior vice president of Fixed Income Division of the Greater China Region of DBS Bank (Hong Kong) Limited, director of Debt Capital Markets Department of BOC International and senior auditor at PricewaterhouseCoopers. Ms. Wong will serve as an independent non-executive director of ENN Energy Holdings Limited (a company listed on the main board of the Stock Exchange with effect from 25 August 2023. Ms. Wong graduated from the London Metropolitan University in the United Kingdom with an Honours Bachelor's Degree in accounting in 2001. Ms. Wong is a fellow member of theAssociation of Chartered Certified Accountants, and a responsible officer licensed under the SFO to carry on Type 4 (advising on securities) and Type 6 (advising on corporate finance)regulated activities. Reported Earnings • Aug 24
First half 2023 earnings released: EPS: CN¥0.28 (vs CN¥0.22 in 1H 2022) First half 2023 results: EPS: CN¥0.28 (up from CN¥0.22 in 1H 2022). Revenue: CN¥10.8b (up 20% from 1H 2022). Net income: CN¥568.7m (up 29% from 1H 2022). Profit margin: 5.3% (up from 4.9% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery 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 increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 12
CIMC Enric Holdings Limited to Report First Half, 2023 Results on Aug 23, 2023 CIMC Enric Holdings Limited announced that they will report first half, 2023 results on Aug 23, 2023 Buying Opportunity • Aug 07
Now 21% undervalued Over the last 90 days, the stock is up 4.2%. The fair value is estimated to be HK$9.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Announcement • May 18
Imc Enric Holdings Limited Approves Final Dividend in Respect of 2022 CIMC Enric Holdings Limited approved final dividend in respect of 2022 of HKD 0.24 per ordinary share at its annual general meeting held on 17 May 2023. Upcoming Dividend • May 17
Upcoming dividend of HK$0.24 per share at 3.3% yield Eligible shareholders must have bought the stock before 24 May 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (2.5%). Reported Earnings • Mar 24
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: CN¥19.6b (up 6.4% from FY 2021). Net income: CN¥1.06b (up 19% from FY 2021). Profit margin: 5.4% (up from 4.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.0%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Hong Kong. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Non-Executive Director Lei Yang 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. Insufficient board refreshment. Reported Earnings • Aug 25
First half 2022 earnings released: EPS: CN¥0.22 (vs CN¥0.20 in 1H 2021) First half 2022 results: EPS: CN¥0.22 (up from CN¥0.20 in 1H 2021). Revenue: CN¥8.95b (up 13% from 1H 2021). Net income: CN¥439.3m (up 15% from 1H 2021). Profit margin: 4.9% (up from 4.8% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 13%, compared to a 9.1% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 19
Upcoming dividend of HK$0.21 per share Eligible shareholders must have bought the stock before 26 May 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (3.5%). 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. 5 experienced directors. 4 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Non-Executive Director Catherine Yien was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions Derivative • Apr 13
Non-Executive Chairman exercised options to buy HK$3.5m worth of stock. On the 7th of April, Xiang Gao exercised options to buy 400k shares at a strike price of around HK$3.70, costing a total of HK$1.5m. This transaction amounted to 57% of their direct individual holding at the time of the trade. Since June 2021, Xiang's direct individual holding has decreased from 1.00m shares to 700.00k. Company insiders have collectively sold HK$7.6m more than they bought, via options and on-market transactions in the last 12 months. 
