Buy Or Sell Opportunity • Jun 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to CN¥18.13. The fair value is estimated to be CN¥22.81, 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 4.7%. Revenue is forecast to grow by 37% in a year. Earnings are forecast to grow by 44% in the next year. Declared Dividend • Jun 08
Dividend of CN¥0.50 announced Dividend of CN¥0.50 is the same as last year. Ex-date: 10th June 2026 Payment date: 10th June 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 22% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
Shanghai Yaoji Technology Co., Ltd. (SZSE:002605) announces an Equity Buyback. Shanghai Yaoji Technology Co., Ltd. (SZSE:002605) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 50 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 25 per share. The repurchased shares will be used for company's equity incentive plan or subsequent employee stock ownership plan. The shares will be repurchased out of own funds. The plan will be valid for 12 months. Reported Earnings • Apr 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.12 (down from CN¥1.32 in FY 2024). Revenue: CN¥2.69b (down 18% from FY 2024). Net income: CN¥467.1m (down 13% from FY 2024). Profit margin: 17% (in line with FY 2024). Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Apr 30
Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, May 21, 2026 Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, May 21, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Announcement • Mar 31
Shanghai Yaoji Technology Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Shanghai Yaoji Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥27.63, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 22x in the Leisure industry in China. Total returns to shareholders of 94% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥39.53 per share. Announcement • Dec 31
Shanghai Yaoji Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 Shanghai Yaoji Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Price Target Changed • Nov 21
Price target decreased by 9.0% to CN¥31.58 Down from CN¥34.70, the current price target is provided by 1 analyst. New target price is 33% above last closing price of CN¥23.67. Stock is down 22% over the past year. The company is forecast to post earnings per share of CN¥1.49 for next year compared to CN¥1.31 last year. Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.32 (vs CN¥0.34 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.32 (down from CN¥0.34 in 3Q 2024). Revenue: CN¥670.2m (down 24% from 3Q 2024). Net income: CN¥134.3m (down 4.0% from 3Q 2024). Profit margin: 20% (up from 16% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to CN¥25.77. The fair value is estimated to be CN¥32.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last 3 years. Earnings per share has grown by 6.7%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 39% in the next 2 years. Announcement • Sep 30
Shanghai Yaoji Technology Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Shanghai Yaoji Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: CN¥0.28 (vs CN¥0.33 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.28 (down from CN¥0.33 in 2Q 2024). Revenue: CN¥659.5m (down 29% from 2Q 2024). Net income: CN¥115.1m (down 14% from 2Q 2024). Profit margin: 17% (up from 14% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 02
Shanghai Yaoji Technology Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Shanghai Yaoji Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥27.66, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 23x in the Leisure industry in China. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥38.37 per share. Buy Or Sell Opportunity • Jun 12
Now 21% undervalued Over the last 90 days, the stock has risen 3.2% to CN¥30.02. The fair value is estimated to be CN¥38.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has grown by 6.4%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Price Target Changed • May 14
Price target decreased by 8.3% to CN¥31.81 Down from CN¥34.70, the current price target is provided by 1 analyst. New target price is 20% above last closing price of CN¥26.47. Stock is up 12% over the past year. The company is forecast to post earnings per share of CN¥1.47 for next year compared to CN¥1.31 last year. Reported Earnings • Apr 25
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥1.32 (down from CN¥1.38 in FY 2023). Revenue: CN¥3.27b (down 24% from FY 2023). Net income: CN¥539.0m (down 4.2% from FY 2023). Profit margin: 17% (up from 13% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 25
Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, May 20, 2025 Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Announcement • Mar 31
Shanghai Yaoji Technology Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Shanghai Yaoji Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Buy Or Sell Opportunity • Feb 18
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to CN¥28.24. The fair value is estimated to be CN¥37.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. New Risk • Jan 10
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 Chinese stocks, typically moving 9.4% 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: Minor Risks Dividend is not well covered by cash flows (181% cash payout ratio). Share price has been volatile over the past 3 months (9.4% average weekly change). Announcement • Dec 31
Shanghai Yaoji Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 25, 2025 Shanghai Yaoji Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 25, 2025 Buy Or Sell Opportunity • Dec 23
Now 26% undervalued Over the last 90 days, the stock has risen 41% to CN¥28.50. The fair value is estimated to be CN¥38.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥34.44, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Leisure industry in China. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥38.17 per share. Buy Or Sell Opportunity • Nov 21
Now 21% undervalued Over the last 90 days, the stock has risen 71% to CN¥30.77. The fair value is estimated to be CN¥38.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥31.13, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Leisure industry in China. Total returns to shareholders of 81% over the past three years. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.34 (vs CN¥0.37 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.34 (down from CN¥0.37 in 3Q 2023). Revenue: CN¥881.3m (down 28% from 3Q 2023). Net income: CN¥139.9m (down 6.7% from 3Q 2023). Profit margin: 16% (up from 12% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. New Risk • Sep 30
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 Chinese stocks, typically moving 6.9% 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: Minor Risks Dividend is not well covered by cash flows (185% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • Sep 30
Shanghai Yaoji Technology Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Shanghai Yaoji Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥23.02, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Leisure industry in China. Total returns to shareholders of 43% over the past three years. Reported Earnings • Aug 21
Second quarter 2024 earnings released: EPS: CN¥0.33 (vs CN¥0.51 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.33 (down from CN¥0.51 in 2Q 2023). Revenue: CN¥926.8m (down 20% from 2Q 2023). Net income: CN¥133.3m (down 36% from 2Q 2023). Profit margin: 14% (down from 18% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Jun 29
Shanghai Yaoji Technology Co., Ltd. to Report First Half, 2024 Results on Aug 21, 2024 Shanghai Yaoji Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 21, 2024 Board Change • Jun 26
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. 4 non-independent directors. Independent Director Jiang Ying was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 02
Shanghai Yaoji Technology Co., Ltd. Proposes Final Dividend for 2023 Shanghai Yaoji Technology Co., Ltd. announced on 30 April 2024 the profit distribution proposal for 2023 as follows: Cash dividend/10 shares (tax included): CNY 9.00000000. Announcement • May 01
Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, May 21, 2024 Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.37 (vs CN¥0.49 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.37 (down from CN¥0.49 in 1Q 2023). Revenue: CN¥981.6m (down 17% from 1Q 2023). Net income: CN¥150.8m (down 24% from 1Q 2023). Profit margin: 15% (down from 17% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Mar 30
Shanghai Yaoji Technology Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Shanghai Yaoji Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥23.27, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Leisure industry in China. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥42.81 per share. New Risk • Jan 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.8% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Dec 30
Shanghai Yaoji Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Shanghai Yaoji Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥23.84, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Leisure industry in China. Total returns to shareholders of 7.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥42.02 per share. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.20 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.37 (up from CN¥0.20 in 3Q 2022). Revenue: CN¥1.23b (up 22% from 3Q 2022). Net income: CN¥150.0m (up 90% from 3Q 2022). Profit margin: 12% (up from 7.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Sep 30
Shanghai Yaoji Technology Co., Ltd. to Report Q3, 2023 Results on Oct 31, 2023 Shanghai Yaoji Technology Co., Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.51 (vs CN¥0.24 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.51 (up from CN¥0.24 in 2Q 2022). Revenue: CN¥1.16b (up 30% from 2Q 2022). Net income: CN¥209.3m (up 112% from 2Q 2022). Profit margin: 18% (up from 11% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥38.69, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Leisure industry in China. Total loss to shareholders of 4.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.32 per share. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥47.34, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 16x in the Leisure industry in China. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.41 per share. Announcement • May 31
Shanghai Yaoji Technology Co., Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 05 June 2023 Shanghai Yaoji Technology Co., Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 2.50000000 for the year 2022, payable on 05 June 2023. Record date is 02 June 2023. Ex-date is 05 June 2023. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥37.94, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 17x in the Leisure industry in China. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥25.51 per share. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥31.01, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 26x in the Leisure industry in China. Total returns to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to CN¥25.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Leisure industry in China. Total returns to shareholders of 1.7% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥0.86 (vs CN¥1.43 in FY 2021) Full year 2022 results: EPS: CN¥0.86 (down from CN¥1.43 in FY 2021). Revenue: CN¥3.91b (up 2.8% from FY 2021). Net income: CN¥348.4m (down 39% from FY 2021). Profit margin: 8.9% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • Nov 16
Price target decreased to CN¥18.06 Down from CN¥23.86, the current price target is provided by 1 analyst. New target price is 15% above last closing price of CN¥15.64. Stock is down 15% over the past year. The company is forecast to post earnings per share of CN¥1.40 for next year compared to CN¥1.43 last year. 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. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yongping Ruan was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥15.85, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Leisure industry in China. Total returns to shareholders of 23% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.25 (vs CN¥0.23 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.25 (up from CN¥0.23 in 3Q 2021). Revenue: CN¥915.1m (flat on 3Q 2021). Net income: CN¥101.6m (up 8.8% from 3Q 2021). Profit margin: 11% (up from 10% in 3Q 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Sep 09
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥4.47b to CN¥4.23b. EPS estimate also fell from CN¥1.44 per share to CN¥1.22 per share. Net income forecast to grow 48% next year vs 53% growth forecast for Leisure industry in China. Consensus price target down from CN¥23.86 to CN¥20.78. Share price fell 4.7% to CN¥14.36 over the past week. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.24 (vs CN¥0.42 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.24 (down from CN¥0.42 in 2Q 2021). Revenue: CN¥888.5m (down 12% from 2Q 2021). Net income: CN¥98.8m (down 41% from 2Q 2021). Profit margin: 11% (down from 17% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 36%, compared to a 30% growth forecast for the Leisure industry in China. 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 7% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 31
Shanghai Yaoji Technology Co., Ltd. Declares 2021 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on August 5, 2022 Shanghai Yaoji Technology Co., Ltd. declared 2021 final profit distribution plan to be implemented (A shares), payable on August 5, 2022. The company announced Cash dividend/10 shares (tax included) of CNY 3.00000000. The record date is August 4, 2022 and ex-date is August 5, 2022. Major Estimate Revision • Jul 21
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥4.93b to CN¥4.47b. EPS estimate also fell from CN¥1.71 per share to CN¥1.44 per share. Net income forecast to grow 34% next year vs 54% growth forecast for Leisure industry in China. Consensus price target of CN¥23.86 unchanged from last update. Share price was steady at CN¥14.79 over the past week. Announcement • Jun 23
Shanghai Yaoji Technology Co., Ltd. Approves Cash Dividend for the Year 2021 Shanghai Yaoji Technology Co., Ltd. held its Annual General Meeting of 2021 on June 21, 2022, approved Cash dividend (tax included) of CNY 3.00000000 per 10 shares for the year 2021. Announcement • Jun 01
Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, Jun 21, 2022 Shanghai Yaoji Technology Co., Ltd., Annual General Meeting, Jun 21, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 annual accounts; to consider 2021 annual report and its summary; to consider 2021 profit distribution plan; to consider Reappointment of 2022 audit firm; to consider Special report on the use of previously raised funds; to consider 2022 remuneration and appraisal plan for directors, supervisors and senior management; to consider 2021 work report of the supervisory committee; and to consider other matters. Announcement • May 08
Shanghai Yaoji Technology Co., Ltd. Proposes Final Dividend for 2021 Shanghai Yaoji Technology Co., Ltd. announced on 05 May 2022 the profit distribution proposal for 2021 as Cash dividend of CNY 3.00000000 per 10 shares (tax included). Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.23 (down from CN¥0.50 in 1Q 2021). Revenue: CN¥1.01b (up 2.9% from 1Q 2021). Net income: CN¥91.8m (down 54% from 1Q 2021). Profit margin: 9.1% (down from 20% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 40%, compared to a 29% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Apr 27
Price target decreased to CN¥23.50 Down from CN¥34.38, the current price target is an average from 2 analysts. New target price is 65% above last closing price of CN¥14.25. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥1.76 for next year compared to CN¥1.42 last year. 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. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Yongping Ruan was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥17.34, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 18x in the Leisure industry in China. Total returns to shareholders of 60% over the past three years. Reported Earnings • Apr 04
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥1.42 (down from CN¥2.75 in FY 2020). Revenue: CN¥3.81b (up 49% from FY 2020). Net income: CN¥571.0m (down 48% from FY 2020). Profit margin: 15% (down from 43% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 36%, compared to a 32% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥21.56, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 24x in the Leisure industry in China. Total returns to shareholders of 148% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.60 per share. Price Target Changed • Feb 16
Price target decreased to CN¥26.75 Down from CN¥34.38, the current price target is an average from 2 analysts. New target price is 5.4% above last closing price of CN¥25.37. Stock is down 1.0% over the past year. The company is forecast to post earnings per share of CN¥1.66 for next year compared to CN¥2.75 last year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥22.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 24x in the Leisure industry in China. Total returns to shareholders of 204% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.77 per share. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥24.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 26x in the Leisure industry in China. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥20.13, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 25x in the Leisure industry in China. Total returns to shareholders of 173% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.46 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥921.7m (up 16% from 3Q 2020). Net income: CN¥93.4m (down 49% from 3Q 2020). Profit margin: 10% (down from 23% 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 46% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS CN¥0.42 (vs CN¥0.35 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥1.01b (up 109% from 2Q 2020). Net income: CN¥168.4m (up 23% from 2Q 2020). Profit margin: 17% (down from 28% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥24.44, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 20x in the Leisure industry in China. Total returns to shareholders of 187% over the past three years. Reported Earnings • Apr 26
Full year 2020 earnings released: EPS CN¥2.75 (vs CN¥0.87 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.56b (up 48% from FY 2019). Net income: CN¥1.09b (up 217% from FY 2019). Profit margin: 43% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS CN¥2.73 (vs CN¥0.87 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.36b (up 36% from FY 2019). Net income: CN¥1.09b (up 215% from FY 2019). Profit margin: 46% (up from 20% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥23.06 The company is down 23% from its price of CN¥30.11 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.21 per share. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥26.55 The company is down 14% from its price of CN¥30.82 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.13 per share. Is New 90 Day High Low • Nov 12
New 90-day low: CN¥29.34 The company is down 16% from its price of CN¥34.73 on 14 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure 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¥7.79 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.06b, up 217% from the prior year. Total revenue was CN¥2.29b over the last 12 months, up 34% from the prior year. Announcement • Aug 28
Shanghai Yaoji Technology Co., Ltd. (SZSE:002605) signed an equity transfer agreement to acquire an additional 49% stake in Dayu Sports (Beijing) Network Technology Co., Ltd. from a group of sellers for approximately CNY 310 million. Shanghai Yaoji Technology Co., Ltd. (SZSE:002605) signed an equity transfer agreement to acquire an additional 49% stake in Dayu Sports (Beijing) Network Technology Co., Ltd. from Ningbo Free Trade Zone Junxie Venture Capital Partnership (Limited Partnership), Shanghai Zhenlin Enterprise Management Partnership (Limited Partnership), Shanghai Shenghan Enterprise Management Partnership (Limited Partnership) and Shanghai Jianyu Enterprise Management Partnership (Limited Partnership) for approximately CNY 310 million on August 25, 2020. Shanghai Yaoji Technology Co., Ltd. will acquire the stake in cash. Ningbo Free Trade Zone Junxie Venture Capital Partnership (Limited Partnership) will sell 18.5% stake for CNY 116.9 million, Shanghai Zhenlin Enterprise Management Partnership (Limited Partnership) will sell 15% stake for CNY 94.8 million, Shanghai Shenghan Enterprise Management Partnership (Limited Partnership) will sell 13% stake for CNY 82.1 million and Shanghai Jianyu Enterprise Management Partnership (Limited Partnership) will sell 2.5% stake for CNY 15.8 million. Prior to the transaction, Shanghai Yaoji Technology Co., Ltd. held 26% stake in Dayu Sports (Beijing) Network Technology Co., Ltd. After the transaction, Shanghai Yaoji Technology Co., Ltd. will hold 75% stake, Ningbo Free Trade Zone Junxie Venture Capital Partnership (Limited Partnership), Shanghai Zhenlin Enterprise Management Partnership (Limited Partnership), Shanghai Shenghan Enterprise Management Partnership (Limited Partnership) and Shanghai Jianyu Enterprise Management Partnership (Limited Partnership) will hold no stake in Dayu Sports (Beijing) Network Technology Co., Ltd.
Dayu Sports (Beijing) Network Technology Co., Ltd reported total assets of CNY 83.9 million and owners’ equity of CNY 81.5 million as at December 31, 2019. Dayu Sports (Beijing) Network Technology Co., Ltd reported revenues of CNY 79.4 million and net profit of CNY 60.1 million in 2019. The transaction does not need to be submitted to the shareholders meeting for deliberation. The Board of Directors of Shanghai Yaoji Technology Co., Ltd. approved the transaction. Announcement • Aug 08
Shanghai Yaoji Technology Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Shanghai Yaoji Technology Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020 Announcement • Jun 16
Shanghai Yaoji Technology Co., Ltd. (SZSE:002605) entered into an equity transfer agreement to acquire the remaining 88% stake in Shanghai Luming Network Technology Co., Ltd. from Shanghai Luqu Enterprise Management Consulting Partnership, Zheng Longteng, Xia Yuchun, Zhu Yulin, Huang Liyu and Huang Xuchen for approximately CNY 260 million. Shanghai Yaoji Technology Co., Ltd. (SZSE:002605) entered into an equity transfer agreement to acquire the remaining 88% stake in Shanghai Luming Network Technology Co., Ltd. from Shanghai Luqu Enterprise Management Consulting Partnership, Zheng Longteng, Xia Yuchun, Zhu Yulin, Huang Liyu and Huang Xuchen for approximately CNY 260 million on June 12, 2020. Under the terms of the transaction, Shanghai Yaoji will pay approximately CNY 130 million within 5 working dates from delivery date, and the remaining consideration of approximately CNY 130 million will be paid from three months to 2 years after delivery date. Pursuant to the transaction, Shanghai Yaoji will pay CNY 9.5 million to Zheng Longteng, CNY 9.2 to Xia Yuchun, CNY 3.9 million to Zhu Yulin, CNY 1.6 million to Huang Liyu and CNY 1 million to Huang Xuchen and and CNY 1.3 million to Shanghai Luqu. Prior to the transaction, Zheng Longteng holds 31.68% stake, Xia Yuchun holds 30.5% stake, Zhu Yulin 13%, Huang Liyu 5.21%, Huang Xuchen 3.21%, Shanghai Luqu 4.4% and Shanghai Yaoji holds 12% stake in Shanghai Luming. Upon completion, Shanghai Yaoji will hold 100% stake in Shanghai Luming. Shanghai Luming reported total assets of approximately CNY 160 million, owner’s equity of CNY 64.3 million, operating income of approximately CNY 760 million and net profit of CNY 20.7 million in the year ending on December 31, 2019. The transaction is still subject to the approval of the shareholders of Shanghai Yaoji, but was approved by all of the Board of Directors of Shanghai Yaoji as well as the supervisory committee. 
