Declared Dividend • Aug 08
Final dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 20th August 2026 Payment date: 3rd September 2026 Dividend yield will be 5.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 9.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 25
MGM China Holdings Limited to Report First Half, 2026 Results on Aug 06, 2026 MGM China Holdings Limited announced that they will report first half, 2026 results on Aug 06, 2026 Upcoming Dividend • May 13
Upcoming dividend of HK$0.35 per share Eligible shareholders must have bought the stock before 20 May 2026. Payment date: 03 June 2026. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 6.4%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (4.3%). Announcement • Mar 30
MGM China Holdings Limited, Annual General Meeting, May 14, 2026 MGM China Holdings Limited, Annual General Meeting, May 14, 2026, at 09:30 China Standard Time. Location: ballroom 3, mgm cotai, avenida da nave desportiva, cotai Macau Reported Earnings • Mar 21
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: HK$1.34 (up from HK$1.21 in FY 2024). Revenue: HK$34.8b (up 11% from FY 2024). Net income: HK$5.07b (up 10% from FY 2024). Profit margin: 15% (in line with FY 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Mar 09
MGM China Holdings Limited to Report Fiscal Year 2025 Results on Mar 19, 2026 MGM China Holdings Limited announced that they will report fiscal year 2025 results on Mar 19, 2026 Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$12.91, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$24.29 per share. Announcement • Dec 20
MGM China Holdings Limited Appoints Kenneth Xiaofeng Feng as Chief Executive Officer, Effective December 19, 2025 MGM China Holdings Limited announced that Mr. Kenneth Xiaofeng Feng has been appointed as chief executive officer of the Company with effect from December 19, 2025. Mr. Feng, aged 55, has been serving as President and executive Director of the Company and Director of MGM Grand Paradise Limited. Mr. Feng was appointed as a non-executive Director of the Company on May 24, 2018, following which he was appointed as President, Strategic and Chief Financial Officer on June 22, 2020 and re-designated as an executive Director & President of the Company on July 20, 2023. He was a member of the Audit Committee of the Company from May 24, 2018 to November 1, 2019. Mr. Feng has been employed by MGM Resorts International since 2001 in a variety of finance, advisory, strategic, operational and development positions. Mr. Feng was appointed as Vice President — International Operations in 2007 and Senior Vice President of MGM Resorts International in 2009. In 2017, Mr. Feng was promoted to be Executive Vice President of MGM International Operations. Upcoming Dividend • Aug 13
Upcoming dividend of HK$0.31 per share Eligible shareholders must have bought the stock before 20 August 2025. Payment date: 03 September 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 6.1%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (3.0%). Reported Earnings • Aug 12
First half 2025 earnings released: EPS: HK$0.63 (vs HK$0.71 in 1H 2024) First half 2025 results: EPS: HK$0.63 (down from HK$0.71 in 1H 2024). Revenue: HK$16.7b (up 2.7% from 1H 2024). Net income: HK$2.38b (down 11% from 1H 2024). Profit margin: 14% (down from 17% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 05
Price target increased by 7.2% to HK$17.69 Up from HK$16.51, the current price target is an average from 16 analysts. New target price is 5.0% above last closing price of HK$16.84. Stock is up 43% over the past year. The company is forecast to post earnings per share of HK$1.33 for next year compared to HK$1.21 last year. Major Estimate Revision • Aug 01
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from HK$32.4b to HK$33.7b. EPS estimate increased from HK$1.28 to HK$1.46 per share. Net income forecast to grow 20% next year vs 28% growth forecast for Hospitality industry in Hong Kong. Consensus price target broadly unchanged at HK$16.71. Share price rose 6.8% to HK$16.38 over the past week. Announcement • Jul 28
MGM China Holdings Limited to Report First Half, 2025 Results on Aug 07, 2025 MGM China Holdings Limited announced that they will report first half, 2025 results on Aug 07, 2025 Price Target Changed • Jul 22
Price target increased by 7.7% to HK$16.51 Up from HK$15.32, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of HK$16.00. Stock is up 36% over the past year. The company is forecast to post earnings per share of HK$1.27 for next year compared to HK$1.21 last year. Price Target Changed • Jul 09
Price target increased by 7.3% to HK$15.32 Up from HK$14.28, the current price target is an average from 16 analysts. New target price is approximately in line with last closing price of HK$15.40. Stock is up 27% over the past year. The company is forecast to post earnings per share of HK$1.24 for next year compared to HK$1.21 last year. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$12.72, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Hospitality industry in Hong Kong. Total returns to shareholders of 210% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.72 per share. Announcement • May 22
MGM China Holdings Limited Declares Final Dividend for the Year Ended December 31, 2024 MGM China Holdings Limited at its AGM held on May 22, 2025, approved to declare a final dividend of HKD 0.251 per share for the year ended December 31, 2024. Upcoming Dividend • May 21
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 12 June 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 5.5%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.3%). Announcement • Apr 15
MGM China Holdings Limited, Annual General Meeting, May 22, 2025 MGM China Holdings Limited, Annual General Meeting, May 22, 2025, at 09:30 China Standard Time. Location: ballroom 3, mgm cotai, avenida da nave desportiva, cotai., Macau Declared Dividend • Mar 22
Dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 28th May 2025 Payment date: 12th June 2025 Dividend yield will be 5.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: HK$1.21 (up from HK$0.69 in FY 2023). Revenue: HK$31.4b (up 27% from FY 2023). Net income: HK$4.60b (up 75% from FY 2023). Profit margin: 15% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Mar 20
MGM China Holdings Limited Announces Final Ordinary Dividend for the Financial Year End 31 December 2024, Payable on June 12, 2025 MGM China Holdings Limited announces final ordinary dividend of HKD 0.251 per share for the financial year end 31 December 2024. Ex-dividend date 28 May 2025, Record date 03 June 2025 and Payment date 12 June 2025. Announcement • Mar 10
MGM China Holdings Limited to Report Fiscal Year 2024 Results on Mar 20, 2025 MGM China Holdings Limited announced that they will report fiscal year 2024 results on Mar 20, 2025 New Risk • Nov 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-HK$52m). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Minor Risk Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$10.86, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total returns to shareholders of 104% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$20.82 per share. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$11.88, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total returns to shareholders of 160% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$21.90 per share. Reported Earnings • Sep 11
First half 2024 earnings released: EPS: HK$0.71 (vs HK$0.22 in 1H 2023) First half 2024 results: EPS: HK$0.71 (up from HK$0.22 in 1H 2023). Revenue: HK$16.2b (up 52% from 1H 2023). Net income: HK$2.69b (up 227% from 1H 2023). Profit margin: 17% (up from 7.7% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Sep 10
MGM China Holdings Limited Declares Special Dividend MGM China Holdings Limited declared a special dividend of HKD 0.353 per Share. Upcoming Dividend • Sep 04
Upcoming dividend of HK$0.35 per share Eligible shareholders must have bought the stock before 11 September 2024. Payment date: 04 October 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (8.4%). Lower than average of industry peers (3.8%). Reported Earnings • Aug 12
First half 2024 earnings released: EPS: HK$0.71 (vs HK$0.22 in 1H 2023) First half 2024 results: EPS: HK$0.71 (up from HK$0.22 in 1H 2023). Revenue: HK$16.2b (up 52% from 1H 2023). Net income: HK$2.69b (up 227% from 1H 2023). Profit margin: 17% (up from 7.7% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
MGM China Holdings Limited to Report First Half, 2024 Results on Aug 08, 2024 MGM China Holdings Limited announced that they will report first half, 2024 results on Aug 08, 2024 Upcoming Dividend • May 30
Upcoming dividend of HK$0.24 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 20 June 2024. Trailing yield: 1.7%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (3.4%). Price Target Changed • May 02
Price target increased by 8.4% to HK$16.77 Up from HK$15.47, the current price target is an average from 15 analysts. New target price is 20% above last closing price of HK$13.92. Stock is up 47% over the past year. The company is forecast to post earnings per share of HK$1.19 for next year compared to HK$0.69 last year. Announcement • Apr 11
MGM China Holdings Limited, Annual General Meeting, May 31, 2024 MGM China Holdings Limited, Annual General Meeting, May 31, 2024, at 09:30 China Standard Time. Location: Ballroom 2, MGM COTAI, Avenida da Nave Desportiva, Cotai, Macau China Agenda: To receive and consider the audited financial statements and the reports of the directors of the Company and Independent Auditor for the year ended December 31, 2023; to declare a final dividend of HK$0.243 per share for the year ended December 31, 2023; to re-elect each of the following Directors; to authorize the board of Directors to fix the remuneration of the Directors; to re-appoint Messrs. Deloitte Touche Tohmatsu as the Independent Auditor of the Company and to authorize the Board of Directors of the Company to fix their remuneration; to grant a general mandate to the Directors to issue, allot and deal with additional shares of the Company not exceeding 20% of the total number of issued shares at the date of passing this resolution; and to add the total number of the shares which are repurchased under the general mandate in Resolution to the total number of the shares which may be issued under the general mandate in Resolution. Upcoming Dividend • Apr 01
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 08 April 2024. Payment date: 23 April 2024. Trailing yield: 1.9%. Lower than top quartile of Hong Kong dividend payers (8.4%). Lower than average of industry peers (3.5%). Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: HK$0.69 (vs HK$1.38 loss in FY 2022) Full year 2023 results: EPS: HK$0.69 (up from HK$1.38 loss in FY 2022). Revenue: HK$24.7b (up 369% from FY 2022). Net income: HK$2.64b (up HK$7.87b from FY 2022). Profit margin: 11% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 12
MGM China Holdings Limited to Report Fiscal Year 2023 Results on Mar 21, 2024 MGM China Holdings Limited announced that they will report fiscal year 2023 results on Mar 21, 2024 Announcement • Feb 24
MGM China Holdings Limited to Report Fiscal Year 2023 Results on Feb 23, 2024 MGM China Holdings Limited announced that they will report fiscal year 2023 results on Feb 23, 2024 Buying Opportunity • Nov 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.5%. The fair value is estimated to be HK$12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Oct 11
Now 21% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be HK$13.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Sep 25
Now 24% undervalued Over the last 90 days, the stock is up 7.5%. The fair value is estimated to be HK$13.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Sep 08
Now 21% undervalued Over the last 90 days, the stock is up 6.4%. The fair value is estimated to be HK$12.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Aug 06
First half 2023 earnings released: EPS: HK$0.22 (vs HK$0.63 loss in 1H 2022) First half 2023 results: EPS: HK$0.22 (up from HK$0.63 loss in 1H 2022). Revenue: HK$10.6b (up 231% from 1H 2022). Net income: HK$820.9m (up HK$3.23b from 1H 2022). Profit margin: 7.7% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Announcement • Jul 26
MGM China Holdings Limited to Report Q2, 2023 Results on Aug 04, 2023 MGM China Holdings Limited announced that they will report Q2, 2023 results on Aug 04, 2023 Announcement • Jul 23
Mgm China Holdings Limited Announces Re-Designation of Mr. Kenneth Xiaofeng Feng as Non-Executive Director to Executive Director MGM China Holdings Limited announced that Mr. Kenneth Xiaofeng Feng, aged 52, a non-executive Director of the Company since May 24, 2018, who served as President, Strategic and Chief Financial Officer of MGM Grand Paradise Limited since June 22, 2020, has been re-designated as an executive Director of the Company with effect from July 20, 2023, and will continue as President of MGM Grand Paradise Limited. Mr. Feng was a member of the Audit Committee of the Company from May 24, 2018 to November 1, 2019. He has been employed by MGM Resorts International since 2001 in a variety of finance, advisory, strategic and development positions. Mr. Feng was appointed as Vice President International Operations in 2007 and Senior Vice President of MGM Resorts International in 2009. Mr. Feng graduated from Nankai University in China with a degree in Bachelor of Science and also holds a Master of Science degree from Columbia University, USA. Mr. Feng does not have any relationship with any other Directors, senior management, substantia of the Company. Announcement • May 26
MGM China Holdings Limited Announces Board Changes MGM China Holdings Limited at its AGM held on May 25, 2023 elected Ms. Jeny Lau as an executive Director. Ms. Jeny Lau, aged 64, has been the Chief Operating Officer and Director of Grand Paradise Group (HK) Limited, a private family office entity, since 2015 overseeing all operations of this group. She has also been a member of the Compliance Committee of MGM China Holdings Limited since 2021. Prior to joining Grand Paradise Group, Ms. Lau was the Chief Operating Officer and Director of Phoenix Property Investors, a regional private equity real estate fund house since 2009. She was in charge of all the finance and accounting, back-of-house operations, fund administration and project financing. Before her role at Phoenix Property Investors, Ms. Lau was the Chief Financial Officer and Executive Director on the Board of Shui On Construction and Materials Limited, a construction and property development company, listed on The Stock Exchange of Hong Kong, with businesses in Hong Kong and China. Before that, Ms. Lau was the Director of Corporate Finance at Shun Tak Holdings Limited, a conglomerate in property, hospitality and transportation, and listed on The Stock Exchange of Hong Kong. There she led and executed all corporate finance transactions including debt and equity fundraising activities. Before joining the Shun Tak Group, Ms. Lau was the Managing Director of Platinum Securities Company Limited and a Director of Platinum Holdings Company Limited, a regional investment bank. At Platinum Group, Ms. Lau supervised activities of the regional offices, led the execution of all capital market and advisory transactions. Prior to joining the Platinum Group, she was with Jardine Fleming Securities Limited (now merged into J.P. Morgan) where she executed regional debt and equity deals, M&A and advisory transactions. Prior to that Ms. Lau was with leading international accounting firms in both the United States and Hong Kong as well as major commercial banks in the United States. Ms. Lau was also an independent non-executive director at Tan Chong International Limited, a Hong Kong listed auto trading arm of Tan Chong Motors Holdings Berhad, a Malaysia- listed auto conglomerate, from 2003 till 2009. She was also appointed as committee member on the Audit Committee and Remuneration Committee of the board committees during that time. Ms. Lau holds a Bachelor of Science in Accounting degree and a Master of Science in Systems and Accountancy from University of Illinois at Chicago. She is a Certified Public Accountant (CPA), and holds professional memberships at American Institute of Certified Public Accountants, Hong Kong Institute of Certified Public Accountants and Hong Kong Securities Institute. The Board announces that Mr. Wong has resigned as an executive director of the Company with effect from the conclusion of the AGM due to his retirement plans. There are no plans for Mr. Wong to remain as a consultant of the Company. Reported Earnings • Mar 30
Full year 2022 earnings released: HK$1.38 loss per share (vs HK$1.01 loss in FY 2021) Full year 2022 results: HK$1.38 loss per share (further deteriorated from HK$1.01 loss in FY 2021). Revenue: HK$5.27b (down 44% from FY 2021). Net loss: HK$5.23b (loss widened 36% from FY 2021). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Feb 21
Price target increased by 13% to HK$10.54 Up from HK$9.34, the current price target is an average from 16 analysts. New target price is 9.5% above last closing price of HK$9.63. Stock is up 72% over the past year. The company is forecast to post a net loss per share of HK$1.34 next year compared to a net loss per share of HK$1.01 last year. Price Target Changed • Dec 08
Price target increased to HK$5.75 Up from HK$5.29, the current price target is an average from 16 analysts. New target price is 32% below last closing price of HK$8.48. Stock is up 67% over the past year. The company is forecast to post a net loss per share of HK$1.30 next year compared to a net loss per share of HK$1.01 last year. Board Change • Nov 16
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, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Director Chee Ming Liu was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Major Estimate Revision • Nov 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from HK$7.13b to HK$6.42b. EPS estimate reaffirmed at -HK$1.13 per share. Hospitality industry in Hong Kong expected to see average net income growth of 158% next year. Consensus price target broadly unchanged at HK$5.32. Share price rose 26% to HK$3.91 over the past week. Major Estimate Revision • Aug 11
Consensus revenue estimates fall by 18% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from HK$9.10b to HK$7.43b. Forecast losses increased from -HK$0.98 to -HK$1.09 per share. Hospitality industry in Hong Kong expected to see average net income growth of 19% next year. Consensus price target down from HK$5.67 to HK$5.49. Share price was steady at HK$4.12 over the past week. Reported Earnings • Aug 05
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up HK$1.73b from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 55%, compared to a 9.5% growth forecast for the industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Apr 27
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$11.6b to HK$11.1b. Losses expected to increase from HK$0.61 per share to HK$0.72. Hospitality industry in Hong Kong expected to see average net income growth of 35% next year. Consensus price target down from HK$6.84 to HK$6.45. Share price fell 7.6% to HK$4.40 over the past week. 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, 2 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Director Chee Ming Liu was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Major Estimate Revision • Apr 13
Consensus estimates of losses per share improve by 17% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from HK$10.4b to HK$11.4b. EPS estimate increased from -HK$0.73 per share to -HK$0.61 per share. Hospitality industry in Hong Kong expected to see average net income growth of 36% next year. Consensus price target broadly unchanged at HK$6.92. Share price fell 5.8% to HK$4.57 over the past week.