Recent Insider Transactions • May 29
Key Executive recently bought HK$23m worth of stock On the 21st of May, Geping Mao bought around 393k shares on-market at roughly HK$58.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Geping has been a net seller over the last 12 months, reducing personal holdings by HK$37m. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$58.85, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Personal Products industry in Hong Kong. Total loss to shareholders of 40% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$101 per share. Announcement • Apr 25
Mao Geping Cosmetics Co., Ltd. Approves Final Dividend for the Year Ended December 31, 2025, Payable on May 26, 2026 Mao Geping Cosmetics Co., Ltd. at its annual general meeting held on April 24, 2026 approved payment of a final dividend of RMB 1.00 per Share (tax inclusive) for the year ended December 31, 2025 were approved at the AGM (the "Final Dividend"). The Final Dividend will be paid by the Company on Tuesday, May 26, 2026 to Shareholders whose names appear on the register of members of the Company on Tuesday, May 5, 2026. Upcoming Dividend • Apr 21
Upcoming dividend of CN¥1.00 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Hong Kong dividend payers (6.7%). Lower than average of industry peers (3.7%). Announcement • Apr 02
Mao Geping Cosmetics Co., Ltd., Annual General Meeting, Apr 24, 2026 Mao Geping Cosmetics Co., Ltd., Annual General Meeting, Apr 24, 2026, at 14:30 China Standard Time. Location: conference room 1, 10th floor, wanyin building, shangcheng district, zhejiang province, hangzhou China Reported Earnings • Mar 27
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: CN¥2.46 (up from CN¥2.18 in FY 2024). Revenue: CN¥5.05b (up 30% from FY 2024). Net income: CN¥1.20b (up 37% from FY 2024). Profit margin: 24% (up from 23% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Personal Products industry in Hong Kong. Announcement • Mar 16
Mao Geping Cosmetics Co., Ltd. to Report Fiscal Year 2025 Results on Mar 26, 2026 Mao Geping Cosmetics Co., Ltd. announced that they will report fiscal year 2025 results on Mar 26, 2026 Recent Insider Transactions • Jan 28
Senior VP & Executive Director recently sold HK$131m worth of stock On the 20th of January, Huiping Mao sold around 2m shares on-market at roughly HK$87.54 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth HK$149m. Insiders have been net sellers, collectively disposing of HK$633m more than they bought in the last 12 months. Recent Insider Transactions • Jan 15
Co-Founder recently sold HK$149m worth of stock On the 12th of January, Niping Mao sold around 2m shares on-market at roughly HK$87.88 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Niping's only on-market trade for the last 12 months. Buy Or Sell Opportunity • Nov 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.1% to HK$90.55. The fair value is estimated to be HK$114, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last year. Earnings per share has declined by 52%. Revenue is forecast to grow by 68% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Reported Earnings • Aug 29
First half 2025 earnings released: EPS: CN¥1.37 (vs CN¥2.46 in 1H 2024) First half 2025 results: EPS: CN¥1.37. Revenue: CN¥2.59b (up 31% from 1H 2024). Net income: CN¥669.8m (up 36% from 1H 2024). Profit margin: 26% (in line with 1H 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Personal Products industry in Hong Kong. Announcement • Aug 15
Mao Geping Cosmetics Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Mao Geping Cosmetics Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Buy Or Sell Opportunity • Jun 23
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 9.0% to HK$107. The fair value is estimated to be HK$84.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 25% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$117, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 24x in the Personal Products industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$85.74 per share. Announcement • May 14
Mao Geping Cosmetics Co., Ltd. Dissolves Supervisory Committee and Announces Cessation of Members, Effective May 13, 2025; Announces Composition of the Committees Mao Geping Cosmetics Co., Ltd. announced that, in accordance with "The Company Law of the People's Republic of China" which has taken into effect on July 1, 2024, and the amended Articles of Association, the Company dissolves the Supervisory Committee of the Company, following which the duties and powers of the Supervisory Committee shall be taken up by the Audit Committee of the Board. Hence, each of Ms. GAO Yan, Ms. WU Meijuan and Mr. YANG Weiqing (the "Supervisors") ceased to be the Supervisor with effect from May 13, 2025. Each of the Supervisors has confirmed that he or she has no disagreement with the Board or the Supervisory Committee and there is no matter relating to his or her resignation as a Supervisor that needs to be brought to the attention of the Shareholders or the Stock Exchange. The Board further resolved that the composition of the committees under the Board be as follows: members of the Audit Committee: Mr. GU Jiong, Mr. HUANG Hui, Mr. LI Hailong; and Mr. GU Jiong shall serve as the chairman of the committee. Members of the Nomination Committee: Mr. MAO Geping, Ms. MAO Niping, Mr. GU Jiong, Mr. HUANG Hui, Mr. LI Hailong; and Mr. LI Hailong shall serve as the chairman of the committee. Members of the Remuneration Committee: Mr. MAO Geping, Ms. MAO Huiping, Mr. GU Jiong, Mr. HUANG Hui, Mr. LI Hailong; and Mr. LI Hailong shall serve as
the chairman of the committee. Announcement • Apr 18
Mao Geping Cosmetics Co., Ltd., Annual General Meeting, May 13, 2025 Mao Geping Cosmetics Co., Ltd., Annual General Meeting, May 13, 2025, at 14:30 China Standard Time. Location: conference room 1, 10th floor, wanyin building, shangcheng district, hangzhou city, zhejiang province, China Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$108, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 18x in the Personal Products industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$78.37 per share. Buy Or Sell Opportunity • Apr 09
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 70% to HK$98.70. The fair value is estimated to be HK$79.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. New Risk • Mar 31
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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 28
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥2.18. Revenue: CN¥3.88b (up 35% from FY 2023). Net income: CN¥880.6m (up 33% from FY 2023). Profit margin: 23% (in line with FY 2023). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 22%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Personal Products industry in Hong Kong. Announcement • Mar 18
Mao Geping Cosmetics Co., Ltd. to Report Fiscal Year 2024 Results on Mar 27, 2025 Mao Geping Cosmetics Co., Ltd. announced that they will report fiscal year 2024 results on Mar 27, 2025 Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to HK$104, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 16x in the Personal Products industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$75.45 per share. Buy Or Sell Opportunity • Mar 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 75% to HK$92.05. The fair value is estimated to be HK$75.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last year. Earnings per share has grown by 59%. Revenue is forecast to grow by 74% in 2 years. Earnings are forecast to grow by 61% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$67.45, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 14x in the Personal Products industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$80.62 per share. Board Change • Dec 11
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Jiong Gu was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
