Announcement • Jul 18
Chervon Holdings Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2026 Chervon Holdings Limited provided consolidated earnings guidance for the six months ended 30 June 2026. For the period, the Group expects to record a net profit in the range of approximately USD 100 million to USD 110 million, as compared with a net profit of approximately USD 95.3 million for the corresponding period of 2025, representing growth of approximately 5% to 15%. The increase in net profit was mainly attributable to (i) solid growth in revenue, particularly from the Group's own branded products, (ii) strong gross profit margins generated by its EGO products, and (iii) tariff refunds. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$19.11, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 6x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$17.74, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 31% over the past three years. Live News • Jun 11
Chervon Holdings Approves HK$150 Million Share Buyback Program Through 2026 Chervon Holdings has approved a share repurchase program of up to HK$150 million, running from June 8 to December 31, 2026.
The buybacks will be conducted on the open market and funded entirely from the company’s internal resources.
All shares repurchased under the program are planned to be cancelled after acquisition.
The key takeaway is that Chervon is choosing to deploy available cash into reducing its share count, which the board has framed as a move to optimize the capital structure and support shareholder value.
You should watch how actively the company uses this authorization over time, since the actual scale and timing of repurchases depend on market conditions and board decisions, and may end up smaller than the headline HK$150 million. Upcoming Dividend • May 13
Upcoming dividend of HK$0.45 per share Eligible shareholders must have bought the stock before 20 May 2026. Payment date: 08 June 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Hong Kong dividend payers (6.7%). Lower than average of industry peers (5.4%). Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to HK$16.06, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 51% over the past three years. New Risk • Mar 26
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 Hong Kong stocks, typically moving 10% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Announcement • Mar 26
Chervon Holdings Limited announces Annual dividend, payable on June 08, 2026 Chervon Holdings Limited announced Annual dividend of HKD 0.4469 per share payable on June 08, 2026, ex-date on May 20, 2026 and record date on May 21, 2026. Reported Earnings • Mar 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: US$0.19 (down from US$0.22 in FY 2024). Revenue: US$1.63b (down 8.2% from FY 2024). Net income: US$97.6m (down 13% from FY 2024). Profit margin: 6.0% (down from 6.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Durables industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Mar 25
Chervon Holdings Limited, Annual General Meeting, May 18, 2026 Chervon Holdings Limited, Annual General Meeting, May 18, 2026. Announcement • Mar 13
Chervon Holdings Limited to Report Q4, 2025 Results on Mar 25, 2026 Chervon Holdings Limited announced that they will report Q4, 2025 results on Mar 25, 2026 Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$24.68, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.07 per share. Announcement • Nov 28
Chervon Holdings Limited Announces Resignation of Tian Ming as Independent Non-Executive Director, Effective from November 28, 2025 The board of directors of Chervon Holdings Limited announced that Mr. Tian Ming (Mr. Tian) has tendered his resignation as an independent non-executive Director with effect from November 28, 2025 as he would like to devote more time to his other personal endeavours. Following his resignation, Mr. Tian also ceased to be the chairman of the remuneration committee and a member of the audit committee and the nomination committee of
the Company. Mr. Tian has confirmed that he has no disagreement with the Board, and he is not aware of any matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the Stock Exchange). Major Estimate Revision • Sep 11
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$1.83b to US$1.85b. EPS estimate increased from US$0.218 to US$0.255 per share. Net income forecast to shrink 4.2% next year vs 14% growth forecast for Consumer Durables industry in Hong Kong . Consensus price target up from HK$21.20 to HK$24.11. Share price rose 2.3% to HK$20.90 over the past week. Reported Earnings • Aug 31
First half 2025 earnings released: EPS: US$0.19 (vs US$0.12 in 1H 2024) First half 2025 results: EPS: US$0.19 (up from US$0.12 in 1H 2024). Revenue: US$912.4m (up 12% from 1H 2024). Net income: US$95.2m (up 55% from 1H 2024). Profit margin: 10% (up from 7.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Consumer Durables industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year. Announcement • Aug 18
Chervon Holdings Limited to Report First Half, 2025 Results on Aug 28, 2025 Chervon Holdings Limited announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$20.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.48 per share. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to HK$19.12, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.32 per share. Major Estimate Revision • Jul 03
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 US$1.89b to US$1.87b. EPS estimate also fell from US$0.251 per share to US$0.225 per share. Net income forecast to grow 2.3% next year vs 25% growth forecast for Consumer Durables industry in Hong Kong. Consensus price target down from HK$23.27 to HK$20.30. Share price was steady at HK$15.42 over the past week. Buy Or Sell Opportunity • Jun 09
Now 23% overvalued Over the last 90 days, the stock has fallen 22% to HK$14.60. The fair value is estimated to be HK$11.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. New Risk • May 26
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 Hong Kong stocks, typically moving 11% 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 (126% cash payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Upcoming Dividend • May 19
Upcoming dividend of HK$1.82 per share Eligible shareholders must have bought the stock before 26 May 2025. Payment date: 23 June 2025. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 13%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (6.0%). Buy Or Sell Opportunity • May 02
Now 27% overvalued Over the last 90 days, the stock has fallen 27% to HK$13.94. The fair value is estimated to be HK$10.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • Apr 30
Chervon Holdings Limited Proposes Special Dividend, Payable on or Before June 23, 2025 Chervon Holdings Limited proposed a special dividend of HKD 1.1905 per Share be declared and paid to the Shareholders, to its EGM to be held on May 22, 2025. Record date: May 29, 2025; Payment date: June 23, 2025. Reported Earnings • Apr 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: US$0.22 (up from US$0.073 loss in FY 2023). Revenue: US$1.77b (up 29% from FY 2023). Net income: US$112.5m (up US$149.6m from FY 2023). Profit margin: 6.3% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 8.5%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Consumer Durables industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$1.94b to US$1.90b. EPS estimate also fell from US$0.255 per share to US$0.22 per share. Net income forecast to shrink 0.8% next year vs 23% growth forecast for Consumer Durables industry in Hong Kong . Consensus price target down from HK$24.66 to HK$22.53. Share price rose 9.2% to HK$12.52 over the past week. Buy Or Sell Opportunity • Apr 10
Now 21% overvalued Over the last 90 days, the stock has fallen 31% to HK$12.12. The fair value is estimated to be HK$10.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 10.0% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$15.10, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$10.40 per share. Reported Earnings • Mar 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: US$0.22 (up from US$0.073 loss in FY 2023). Revenue: US$1.77b (up 29% from FY 2023). Net income: US$112.5m (up US$149.6m from FY 2023). Profit margin: 6.3% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 8.5%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Consumer Durables industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Announcement • Mar 14
Chervon Holdings Limited to Report Fiscal Year 2024 Final Results on Mar 26, 2025 Chervon Holdings Limited announced that they will report fiscal year 2024 final results on Mar 26, 2025 Announcement • Oct 28
Chervon Holdings Limited Announces Change of Joint Company Secretary The board of directors of Chervon Holdings Limited announced that with effect from October 28, 2024, (i) Ms. Mok Ming Wai ("Ms. Mok") has resigned as the joint company secretary of the Company (the "Joint Company Secretary"); and (ii) Ms. Lam Wing Chi ("Ms. Lam") has been appointed as the Joint Company Secretary. Following the aforesaid changes, Mr. Hu Yian ("Mr. Hu") will continue to serve as the other Joint Company Secretary. Mr. Hu currently serves as the Company's chief financial officer, and he is primarily responsible for overseeing overall financial operations, financing and investment activities of the Group. Mr. Hu joined the Group in April 2003 and has since served as the director and financial vice president of Nanjing Chervon Industry Co. Ltd. Mr. Hu currently also serves as a director in a number of subsidiaries of the Group. Mr. Hu has been a director of Nanjing Chervon Auto Precision Technology Co. Ltd., a company listed on the Shanghai Stock Exchange, from March 2012 to November 2022. Prior to joining the Group, he was a financial manager of Nanjing Ericsson Panda Communication Co. Ltd. from November 1995 to March 2003. Mr. Hu received his bachelor's degree in industrial accounting from Northeast Institute of Technology in the People's Republic of China in June 1992 and his master's degree in international management from The Australian National University in Australia in June 2001. Ms. Lam is currently a Senior Manager of Company Secretarial Services of Tricor Services Limited. She has over 10 years of experience in the corporate secretarial field and has been providing professional corporate services to Hong Kong listed companies as well as multinational, private and offshore companies. Ms. Lam is a Chartered Secretary, a Chartered Governance Professional and an associate of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute. Buy Or Sell Opportunity • Oct 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to HK$22.20. The fair value is estimated to be HK$18.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Meanwhile, the company became loss making. Announcement • Oct 17
Chervon Holdings Limited Provides Consolidated Earning Guidance for the Nine Months Ended September 30, 2024 Chervon Holdings Limited provided consolidated earning guidance for the nine months ended September 30, 2024. For the period company expects to record a net profit for the Reporting Period of approximately USD 100 million as compared to a net profit of approximately of USD 23 million for the nine months ended September 30, 2023, representing a significant improvement of over 300%. Such expected positive increase in the net profit during the Reporting Period is primarily driven by the factors as described below: (i) strong points-of-sales performance of flagship brand EGO; (ii) revenue growth rate further accelerated in the third quarter of 2024, benefiting from the end of the destocking cycle; (iii) an improvement in gross profit margin driven by scale restoration and operational efficiency enhancement; and (iv) continuous optimization of operating expenses in a balanced and efficient manner. Based on the strength of growth for the nine months ended September 2024, the company are confident in achieving overall revenue growth target of over 20% for the full year 2024 with improved profitability this year. Announcement • Oct 16
Joe Turoff to Leave as Chief Marketing Officer of Chervon Holdings Ltd Chervon Holdings Ltd. announced that Joe Turoff, Chief Marketing Officer, will be leaving Chervon for a new opportunity. Turoff has been with Chervon for over 20 years, contributing significantly to Chervon's development and the building of the EGO and FLEX brands in North America. Reported Earnings • Sep 28
First half 2024 earnings released: EPS: US$0.12 (vs US$0.097 in 1H 2023) First half 2024 results: EPS: US$0.12 (up from US$0.097 in 1H 2023). Revenue: US$815.7m (up 11% from 1H 2023). Net income: US$61.5m (up 25% from 1H 2023). Profit margin: 7.5% (up from 6.7% in 1H 2023). 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 10% growth forecast for the Consumer Durables industry in Hong Kong. Buy Or Sell Opportunity • Sep 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to HK$22.15. The fair value is estimated to be HK$18.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 29
First half 2024 earnings released: EPS: US$0.12 (vs US$0.097 in 1H 2023) First half 2024 results: EPS: US$0.12 (up from US$0.097 in 1H 2023). Revenue: US$815.7m (up 11% from 1H 2023). Net income: US$61.5m (up 25% from 1H 2023). Profit margin: 7.5% (up from 6.7% in 1H 2023). 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 10% growth forecast for the Consumer Durables industry in Hong Kong. Announcement • Aug 15
Chervon Holdings Limited to Report First Half, 2024 Results on Aug 27, 2024 Chervon Holdings Limited announced that they will report first half, 2024 results on Aug 27, 2024 Announcement • Jun 05
Chervon Holdings Limited Declares Special Dividend for the Year Ended 31 December 2023 Chervon Holdings Limited at its annual general meeting held on June 4, 2024, declared a special dividend of HKD 0.2764 per share for the year ended 31 December 2023. Upcoming Dividend • May 30
Upcoming dividend of HK$0.28 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 16 July 2024. The company last paid an ordinary dividend in March 2022. The average dividend yield among industry peers is 4.2%. Reported Earnings • Apr 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$0.073 loss per share (down from US$0.28 profit in FY 2022). Revenue: US$1.37b (down 31% from FY 2022). Net loss: US$37.1m (down 127% from profit in FY 2022). Revenue missed analyst estimates by 13%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Durables industry in Hong Kong. Announcement • Mar 28
Chervon Holdings Limited, Annual General Meeting, Jun 04, 2024 Chervon Holdings Limited, Annual General Meeting, Jun 04, 2024. Reported Earnings • Mar 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$0.07 loss per share (down from US$0.28 profit in FY 2022). Revenue: US$1.37b (down 31% from FY 2022). Net loss: US$37.1m (down 127% from profit in FY 2022). Revenue missed analyst estimates by 13%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Hong Kong. Announcement • Mar 27
Chervon Holdings Limited Proposes Special Dividend for the Financial Year End 31 December 2023, Payable on July 16, 2024 Chervon Holdings Limited proposed special dividend of HKD 0.2764 per share for the financial year end 31 December 2023. Ex-dividend date 06 June 2024, Record date 13 June 2024 and Payment date 16 July 2024. Announcement • Mar 14
Chervon Holdings Limited to Report Fiscal Year 2023 Final Results on Mar 27, 2024 Chervon Holdings Limited announced that they will report fiscal year 2023 final results on Mar 27, 2024 Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$16.30, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 60% over the past year. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$14.98, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 65% over the past year. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to HK$13.58, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 68% over the past year. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$18.40, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 51% over the past year. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$20.85, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 46% over the past year. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$17.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 58% over the past year. Major Estimate Revision • Nov 22
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$1.83b to US$1.76b. EPS estimate also fell from US$0.261 per share to US$0.213 per share. Net income forecast to grow 13% next year vs 21% growth forecast for Consumer Durables industry in Hong Kong. Consensus price target down from HK$36.44 to HK$32.82. Share price fell 4.8% to HK$20.05 over the past week. Announcement • Nov 19
Chervon Holdings Limited Provides Unaudited Consolidated Guidance for the the First Ten Months Ended October 31, 2023 Chervon Holdings Limited provided unaudited consolidated guidance for the the First Ten Months Ended October 31, 2023. For the period, the company expects to record a decrease in its net profit by approximately 80% to USD 21 million, as compared to a net profit of approximately USD 108 million recorded in the corresponding period in 2022. Such expected decrease in the profit during the Period is primarily due to (i) a decline in revenue caused by moreconservative inventory policies adopted by the Group's key customers facing macroeconomic uncertainties; (ii) the Group's continued investments in research and product development, sales and marketing as well as management transformations, and (iii) the relatively low utilization of the Group's manufacturing capacity. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$17.54, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 36% over the past year. Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$2.10b to US$1.97b. EPS estimate also fell from US$0.347 per share to US$0.307 per share. Net income forecast to grow 42% next year vs 52% growth forecast for Consumer Durables industry in Hong Kong. Consensus price target down from HK$44.83 to HK$40.48. Share price fell 5.8% to HK$25.90 over the past week. Reported Earnings • Aug 29
First half 2023 earnings released: EPS: US$0.097 (vs US$0.13 in 1H 2022) First half 2023 results: EPS: US$0.097 (down from US$0.13 in 1H 2022). Revenue: US$738.5m (down 26% from 1H 2022). Net income: US$49.1m (down 23% from 1H 2022). Profit margin: 6.7% (up from 6.3% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Consumer Durables industry in Hong Kong. Announcement • Aug 18
Chervon Holdings Limited to Report First Half, 2023 Results on Aug 28, 2023 Chervon Holdings Limited announced that they will report first half, 2023 results on Aug 28, 2023 Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$33.20, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 12% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$19.39 per share. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$34.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 9x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$22.00 per share. Buying Opportunity • Jun 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be HK$38.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings is also forecast to grow by 21% per annum over the same time period. Announcement • Jun 03
Chervon Holdings Limited Approves Final Dividend for the Year Ended December 31, 2022 Chervon Holdings Limited held its annual general meeting on June 2, 2023 approved a final dividend of HKD 0.56 per share for the year ended 31 December 2022. Upcoming Dividend • May 30
Upcoming dividend of HK$0.56 per share at 1.6% yield Eligible shareholders must have bought the stock before 06 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (3.4%). Reported Earnings • Mar 29
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: US$0.28 (down from US$0.36 in FY 2021). Revenue: US$1.99b (up 13% from FY 2021). Net income: US$139.4m (down 3.6% from FY 2021). Profit margin: 7.0% (down from 8.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Consumer Durables industry in Hong Kong. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$34.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 37% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$17.75 per share. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$44.35, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Consumer Durables industry in Hong Kong. Total loss to shareholders of 20% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$26.26 per share. Announcement • Jan 20
Chervon Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 781.3125 million. Chervon Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 781.3125 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,835,000
Price\Range: HKD 37.5
Transaction Features: Subsequent Direct Listing 
