Upcoming Dividend • Jun 17
Upcoming dividend of HK$0.69 per share Eligible shareholders must have bought the stock before 24 June 2026. Payment date: 20 July 2026. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Hong Kong dividend payers (7.1%). Lower than average of industry peers (4.8%). Board Change • Apr 08
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 Non-Executive Director Lan Wang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥4.06b to CN¥3.72b. EPS estimate also fell from CN¥1.96 per share to CN¥1.74 per share. Net income forecast to grow 17% next year vs 17% growth forecast for Healthcare industry in Hong Kong. Consensus price target down from HK$45.58 to HK$42.64. Share price was steady at HK$27.10 over the past week. Declared Dividend • Apr 02
Final dividend of HK$0.69 announced Shareholders will receive a dividend of HK$0.69. Ex-date: 24th June 2026 Payment date: 20th July 2026 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 68% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 66% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 31
Gushengtang Holdings Limited, Annual General Meeting, Jun 18, 2026 Gushengtang Holdings Limited, Annual General Meeting, Jun 18, 2026. Announcement • Mar 18
Gushengtang Holdings Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 Gushengtang Holdings Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Feb 13
Gushengtang Holdings Limited announced that it has received HKD 857.263 million in funding On February 12, 2026, Gushengtang Holdings Limited closed the transaction. Announcement • Jan 27
Gushengtang Holdings Limited announced that it expects to receive HKD 857.263 million in funding Gushengtang Holdings Limited entered into a Subscription Agreement and announced a privet placement of Convertible Bonds of the company in the aggregate principal amount of HKD 857,263,000 on January 26, 2026. The transaction involves participation from relevant and new investor Ginkgo Health Investment Ltd. Ginkgo Health Investment Ltd., wholly-owned by Boyu Capital Growth Fund I, Pte. Ltd., a private equity fund which is advised by its investment adviser, Boyu Capital Group Management Ltd. Assuming all the Conversion Shares are converted in full at the initial Conversion Price of HKD 37.77 per Conversion Share in respect of (i) the principal amount of the Convertible Bonds and (ii) the accrued interest from the preceding interest payment date up to the last date of the Conversion Period ending the seventh (7th) day prior to the Maturity Date, an aggregate of 22,915,071 Conversion Shares will be issued, which represent approximately 9.78% of the issued share capital of the Company as at the date of this announcement and approximately 8.91% of the issued share capital of the Company as enlarged by the issue of the Conversion Shares. Boyu Capital Group Management Ltd. Completion of the Subscription is conditional on the Relevant Investor completing its due diligence and investment committee approval, no Event of Default or material adverse effect occurring, NDRC approval and Certificate of Foreign Debt registration being valid, Stock Exchange approval for listing and dealing in the Conversion Shares being effective, and on the Closing Date, the Company’s fundamental and other representations and warranties being true and accurate, and the Company having performed all its obligations under the Subscription Agreement. If the conditions are not waived by the Relevant Investor or fulfilled by 27 February 2026 (the “Long Stop Date”), either party may terminate the Subscription Agreement in writing after that date with immediate effect, and neither party will have any claim against the other, except for rights or obligations accrued before termination. At completion of the Subscription, the Company shall issue the Convertible Bonds to the Relevant Investor, and the Relevant Investor shall pay to the Company an aggregate amount equal to the Issue Price attributable to the Convertible Bonds to be subscribed for by the Relevant Investor. The terms and conditions of the Subscription Agreement and the Convertible Bonds were agreed after arm’s length negotiations between the Company and the Relevant Investor having taken into account the benefits arising from the Strategic Co-Operation. Completion of the Subscription will take place on 12 February 2026 or such other date as the Company and the Relevant Investor may mutually agree in writing. The Conversion Shares will be allotted and issued by the Company pursuant to the General Mandate. The offering of the Convertible Bonds and the issue of the Conversion Shares by the Company are not subject to further Shareholders’ approval. Reported Earnings • Sep 30
First half 2025 earnings released: EPS: CN¥0.63 (vs CN¥0.44 in 1H 2024) First half 2025 results: EPS: CN¥0.63 (up from CN¥0.44 in 1H 2024). Revenue: CN¥1.49b (up 9.5% from 1H 2024). Net income: CN¥151.6m (up 42% from 1H 2024). Profit margin: 10% (up from 7.8% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Healthcare industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
First half 2025 earnings released: EPS: CN¥0.63 (vs CN¥0.44 in 1H 2024) First half 2025 results: EPS: CN¥0.63 (up from CN¥0.44 in 1H 2024). Revenue: CN¥1.49b (up 9.5% from 1H 2024). Net income: CN¥151.6m (up 42% from 1H 2024). Profit margin: 10% (up from 7.8% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Healthcare industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Aug 29
Gushengtang Holdings Limited Announces Interim Dividend for the Six Months Ended June 30, 2025, Payable on 29 September 2025 Gushengtang Holdings Limited announced interim dividend of HKD 0.35 per share for the six months ended June 30, 2025. Ex-dividend date is 11 September 2025; Record date is 17 September 2025; Payment date is 29 September 2025. Announcement • Aug 19
Gushengtang Holdings Limited to Report First Half, 2025 Results on Aug 29, 2025 Gushengtang Holdings Limited announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Jun 20
Gushengtang Holdings Limited Approves Final Dividend for the Year Ended December 31, 2024 Gushengtang Holdings Limited announced that at its AGM held on June 20, 2025 approved to declare a final dividend of HKD 0.41 per share (the Final Dividend) for the year ended December 31, 2024. Upcoming Dividend • Jun 17
Upcoming dividend of HK$0.41 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 11 July 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Hong Kong dividend payers (7.4%). Lower than average of industry peers (4.0%). Reported Earnings • May 03
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥1.26 (up from CN¥1.06 in FY 2023). Revenue: CN¥3.02b (up 30% from FY 2023). Net income: CN¥306.8m (up 22% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Healthcare 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 remained flat, which means it is significantly lagging earnings. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥3.91b to CN¥3.77b. EPS estimate also fell from CN¥1.88 per share to CN¥1.64 per share. Net income forecast to grow 31% next year vs 28% growth forecast for Healthcare industry in Hong Kong. Consensus price target down from HK$54.55 to HK$52.93. Share price was steady at HK$32.05 over the past week. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: CN¥1.26 (vs CN¥1.06 in FY 2023) Full year 2024 results: EPS: CN¥1.26 (up from CN¥1.06 in FY 2023). Revenue: CN¥3.02b (up 30% from FY 2023). Net income: CN¥306.8m (up 22% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Healthcare 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 2% per year, which means it is significantly lagging earnings growth. Announcement • Mar 20
Gushengtang Holdings Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 Gushengtang Holdings Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$44.80, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 11x in the Healthcare industry in Hong Kong. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$82.03 per share. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$32.75, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 10x in the Healthcare industry in Hong Kong. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$27.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Healthcare industry in Hong Kong. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$42.80, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 11x in the Healthcare industry in Hong Kong. Total loss to shareholders of 1.9% over the past year. Reported Earnings • Sep 24
First half 2024 earnings released: EPS: CN¥0.44 (vs CN¥0.40 in 1H 2023) First half 2024 results: EPS: CN¥0.44 (up from CN¥0.40 in 1H 2023). Revenue: CN¥1.36b (up 38% from 1H 2023). Net income: CN¥106.9m (up 15% from 1H 2023). Profit margin: 7.8% (down from 9.4% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Healthcare industry in Hong Kong. Upcoming Dividend • Aug 29
Upcoming dividend of HK$0.13 per share Eligible shareholders must have bought the stock before 05 September 2024. Payment date: 25 September 2024. The average dividend yield among industry peers is 4.4%. Reported Earnings • Aug 22
First half 2024 earnings released: EPS: CN¥0.44 (vs CN¥0.40 in 1H 2023) First half 2024 results: EPS: CN¥0.44 (up from CN¥0.40 in 1H 2023). Revenue: CN¥1.36b (up 38% from 1H 2023). Net income: CN¥106.9m (up 15% from 1H 2023). Profit margin: 7.8% (down from 9.5% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Healthcare industry in Hong Kong. Announcement • Aug 20
Gushengtang Holdings Limited Announces Interim Dividend for the Six Months Ended June 30, 2024, Payable on 25 September 2024 Gushengtang Holdings Limited announced a interim dividend of HKD 0.13 per share for the six months ended June 30, 2024. The ex-dividend date is on 05 September 2024. The record date is on 11 September 2024. The payment date is on 25 September 2024. Announcement • Aug 09
Gushengtang Holdings Limited to Report First Half, 2024 Results on Aug 20, 2024 Gushengtang Holdings Limited announced that they will report first half, 2024 results on Aug 20, 2024 Announcement • Jun 26
Gushengtang Holdings Limited Announces Management Changes Gushengtang Holdings Limited Board announced that Ms. Ho Yin Kwan has tendered her resignation as the Joint Company Secretary, the Process Agent and the Authorized Representative witheffect from June 26, 2024. Ms. Ho has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange. Following the resignation of Ms. Ho, the Board announced that Mr. Cheung Kai Cheong Willie (Mr. Cheung) has been appointed as the Joint Company Secretary, the Process Agent and the Authorized Representative with effect from June 26, 2024. Mr. Yu Peng (Mr. Yu) will remain as the other Joint Company Secretary. Mr. Yu Peng, aged 35, was appointed as one of the Joint Company Secretaries on August 21, 2023. Mr. Yu joined the Group in August 2021 and has successively served as deputy legal director and legal director since then. Mr. Yu is mainly responsible for legal compliance, affairs of the Board and corporate governance of the Group. Prior to joining the Group, Mr. Yu served as an associate at Grandall Law Firm (Guangzhou) from June 2015 to October 2019 and an associate at King & Wood Mallesons (Guangzhou) from November 2019 to July 2021. Mr. Yu has received systematic law undergraduate and postgraduate education since September 2008 and obtained his master's degree in law in June 2015 from Xiamen University. Mr. Yu passed the National Judicial Examination in the PRC and obtained his legal professional qualification in September 2012. Mr. Cheung Kai Cheong Willie is a senior manager of SWCS and is mainly responsible for assisting listed companies in professional company secretarial work. Prior to joining SWCS, he served as the company secretary and finance controller of certain companies whose shares are listed on the Stock Exchange. He has more than 20 years of professional experiences in company secretarial, accounting and finance matters. He is a fellow member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants in the United Kingdom. He obtained a Bachelor Degree of Arts (Honors) in Accounting and Finance at the University of Glamorgan in the United Kingdom. Announcement • Mar 29
Gushengtang Holdings Limited, Annual General Meeting, Jun 18, 2024 Gushengtang Holdings Limited, Annual General Meeting, Jun 18, 2024. Reported Earnings • Mar 28
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥1.06 (up from CN¥0.80 in FY 2022). Revenue: CN¥2.32b (up 43% from FY 2022). Net income: CN¥252.2m (up 38% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 9.9%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Healthcare industry in Hong Kong. Announcement • Mar 16
Gushengtang Holdings Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Gushengtang Holdings Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$44.20, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 11x in the Healthcare industry in Hong Kong. Total loss to shareholders of 18% over the past year. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$36.70, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Healthcare industry in Hong Kong. Total loss to shareholders of 31% over the past year. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$48.30, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 17x in the Healthcare industry in Hong Kong. Total returns to shareholders of 82% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$49.22 per share. Reported Earnings • Sep 24
First half 2023 earnings released: EPS: CN¥0.40 (vs CN¥0.23 in 1H 2022) First half 2023 results: EPS: CN¥0.40 (up from CN¥0.23 in 1H 2022). Revenue: CN¥986.1m (up 40% from 1H 2022). Net income: CN¥93.2m (up 74% from 1H 2022). Profit margin: 9.5% (up from 7.6% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Healthcare industry in Hong Kong. Buying Opportunity • Sep 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be HK$55.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 68% in 2 years. Earnings is forecast to grow by 81% in the next 2 years. Buying Opportunity • Sep 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be HK$55.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 68% in 2 years. Earnings is forecast to grow by 81% in the next 2 years. Announcement • Aug 22
Gushengtang Holdings Limited Announces Management Changes The board of director of GUSHENGTANG HOLDINGS LIMITED announced that, with effect from August 21, 2023, Mr. Xu Yongjiu ("Mr. Xu") has tendered his resignation as a non-executive Director due to change of work arrangement. The Board hereby announces that, Ms. Xie Xiaoping ("Ms. Xie") has tendered her resignation as a joint company secretary of the Company (the "Joint Company Secretary") with effect from August 21, 2023 due to the change of her position within the Group. The Board further announces that Mr. Yu Peng ("Mr. Yu"), the legal director of the Company, has been concurrently appointed as a Joint Company Secretary to replace Ms. Xie with effect from August 21, 2023. Ms. Ho Yin Kwan ("Ms. Ho"), who meets the requirements under Rules 3.28 and 8.17 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"), currently the other Joint Company Secretary, will continue to act as a Joint Company Secretary and will continue to perform and discharge the duties of a company secretary under the Listing Rules. Mr. Yu, aged 34, is a legal director of the Company. Mr. Yu joined the Group in August 2021 and has served as deputy legal director and legal director successively since then, mainly responsible for legal compliance, affairs of the Board and corporate governance of the Group. Prior to joining the Group, Mr. Yu served as an associate at Grandall Law Firm (Guangzhou) from June 2015 to October 2019 and at King & Wood Mallesons (Guangzhou) from November 2019 to July 2021. He has received systematic law undergraduate and postgraduate education since September 2008 and obtained his master's degree in law in June 2015 from Xiamen University. He passed the National Judicial Examination in the PRC and obtained his legal professional qualification in September 2012. Ms. Ho was appointed as one of the Joint Company Secretaries on July 5, 2022. Ms. Ho is a vice president of SWCS Corporate Services Group (Hong Kong) Limited. She has over 20 years of professional experience in corporate secretarial field and has been providing corporate secretarial services to both listed and private companies incorporated in Hong Kong and overseas. Ms. Ho holds a bachelor's degree in business and finance from theUniversity of Portsmouth and a master's degree in corporate governance from the Open University of Hong Kong (currently known as Hong Kong Metropolitan University). Ms. Ho is a member of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Reported Earnings • Aug 22
First half 2023 earnings released: EPS: CN¥0.40 (vs CN¥0.24 in 1H 2022) First half 2023 results: EPS: CN¥0.40 (up from CN¥0.24 in 1H 2022). Revenue: CN¥986.1m (up 40% from 1H 2022). Net income: CN¥92.7m (up 67% from 1H 2022). Profit margin: 9.4% (up from 7.9% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Healthcare industry in Hong Kong. Announcement • Aug 10
Gushengtang Holdings Limited to Report First Half, 2023 Results on Aug 21, 2023 Gushengtang Holdings Limited announced that they will report first half, 2023 results on Aug 21, 2023 Announcement • May 20
Gushengtang Holdings Limited Announces Executive Changes The board of directors of GUSHENGTANG HOLDINGS LIMITED announced that, with effect from May 19, 2023, Mr. Jiang Xiaodong (Mr. Jiang) has tendered his resignation as a non-executive Director and ceased to be a member of the audit committee of the Board (the Audit Committee) due to change of work arrangement. Mr. Jiang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company (the Shareholders) or The Stock Exchange of Hong Kong Limited. The Board announced that following Mr. Jiang's resignation, Mr. Huang Jingsheng (Mr. Huang), a non-executive Director, has been appointed as a member of the Audit Committee with effect from May 19, 2023. Reported Earnings • Mar 19
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: CN¥0.80 (up from CN¥4.38 loss in FY 2021). Revenue: CN¥1.62b (up 18% from FY 2021). Net income: CN¥183.3m (up CN¥690.4m from FY 2021). Profit margin: 11% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.0%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Healthcare industry in Hong Kong. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2023 The 7 analysts covering Gushengtang Holdings previously expected the company to break even in 2022. New consensus forecast suggests the company will make a profit of CN¥269.8m in 2023. Average annual earnings growth of 50% is required to achieve expected profit on schedule. 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, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Xu Jin 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. Announcement • Oct 11
Gushengtang Holdings Limited (SEHK:2273) entered into an equity transfer framework agreement to acquire 93% stake in Hangzhou Datong TCM Out-patient Department for RMB 83.7 million. Gushengtang Holdings Limited (SEHK:2273) entered into an equity transfer framework agreement to acquire 93% stake in Hangzhou Datong TCM Out-patient Department for RMB 83.7 million on October 10, 2022. The
Consideration will be funded by net proceeds from the global offering. Reported Earnings • Aug 17
First half 2022 earnings released: EPS: CN¥0.24 (vs CN¥3.81 loss in 1H 2021) First half 2022 results: EPS: CN¥0.24 (up from CN¥3.81 loss in 1H 2021). Revenue: CN¥702.9m (up 18% from 1H 2021). Net income: CN¥55.5m (up CN¥405.3m from 1H 2021). Profit margin: 7.9% (up from net loss in 1H 2021). The move to profitability was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 34%, compared to a 35% growth forecast for the Healthcare industry in Hong Kong. Announcement • Aug 06
Gushengtang Holdings Limited to Report First Half, 2022 Results on Aug 16, 2022 Gushengtang Holdings Limited announced that they will report first half, 2022 results on Aug 16, 2022 Announcement • Aug 04
Gushengtang Holdings Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2022 The board of directors of Gushengtang Holdings Limited informed the shareholders of the Company and potential investors of the Company that based on the information currently available and a preliminary review of the unaudited consolidated management accounts of the Group for the six months ended June 30, 2022, it is expected that the Group will record a net profit for first half of 2022 of approximately RMB 54.0 million, as compared with the net loss of the Group for the six months ended June 30, 2021 in the amount of RMB 349.7 million and an increase in adjusted net profit for first half of 2022 by approximately 35% to 41%, as compared with that for first half of 2021. Based on the information currently available to the Board, the Board believes that: the turnaround in the Group's profitability was primarily due to the fact that (i) there was no further fair value loss in connection with the convertible redeemable preferred shares and the convertible bonds of the Company for first half of 2022, as compared with a fair value loss of convertible redeemable preferred shares and convertible bonds of the Company for first half of 2021 and (ii) there was less expenses in equity settled share-based payment during the first half of 2022 since the Company incurred an one-off share-based payment in first half of 2021. The increased in adjusted net profit (as defined by the Group as the net loss/profit eliminating the effect of the (i) fair value change of financial liabilities at fair value through profit or loss in connection with the convertible redeemable preferred shares and the convertible bonds of the Company; (ii) equity-settled share-based payment in relation to the share options granted under the Pre-IPO Share Option Plan as defined in the prospectus of the Company dated November 30, 2021; and (iii) listing expense (collectively, the "Adjusted Net Items")) was mainly due to the combining effects of (a) the increase in revenue attributable to the business expansion and (b) the decrease in the finance costs due to the repayment of short-term bank loans in second half of year 2021 and first half of 2022. Announcement • Jul 06
Gushengtang Holdings Limited Announces Executive Changes The board of Gushengtang Holdings Limited announced that Ms. Lau Jeanie has tendered her resignation as the Joint Company Secretary, the Process Agent and the Authorized Representative of the Company with effect from July 05, 2022. Following the resignation of Ms. Lau, the Board announced that Ms. Ho Yin Kwan has been appointed as the Joint Company Secretary, the Process Agent and the Authorized Representative of the Company with effect from July 5, 2022. Ms. Xie Xiaoping will remain as the other Joint Company Secretary. The biographies of Ms. Xie and Ms. Ho are set out as follows: Ms. Xie, aged 45, was appointed as one of the joint company secretaries of the Company on May 25, 2021. Ms. Xie joined the Group in January 2020 and served as the financial general manager of Guangdong Gushengtang TCM Health Technology Co. Ltd. ("Guangdong Gushengtang"), mainly responsible for the general financial affairs and financial management. Before joining the Group, Ms. Xie served at Kam Hing Textile (International) Limited, a subsidiary of Kam Hing International Holdings Limited from April 2005 to May 2016, with her last position as the financial manager. She also served as the accounting manager of Donlink Group Company Limited from June 2016 to January 2020. Ms. Xie has also been serving as a director of Guangdong Gushengtang since August 2021; the general manager of Guangzhou Bailitiaoyi Consultancy Co. Ltd., Sichuan Gusheng Pharmaceutical Co. Ltd. and Sichuan Gusheng Medical Management Co. Ltd. since December 2021; and a supervisor of various members of the Group, including but not limited to Guangzhou Tianhe District Gushengtang Healthcare Out-patient Department Co. Ltd. since September 2021, Guangzhou Haizhu District Gushengtang TCM Out-patient Department Co. Ltd. since September 2021, and Beijing Gushengtang Panjiayuan TCM Hospital Co. Ltd. since November 2021. Ms. Xie was accredited as an intermediate accountant by the Ministry of Finance of the People's Republic of China in September 2003, and a senior accountant by Guangzhou Municipal Human Resources and Social Security Bureau in April 2021. Ms. Xie received her bachelor's degree in management from South China University of Technology in September 2005. She was also admitted by The Chinese University of Hong Kong, Shenzhen in May 2021 to study business management and is currently a candidate for a master degree. Ms. Ho is a vice president of SWCS. She has over 20 years of professional experience in corporate secretarial field and has been providing corporate secretarial services to both listed and private companies incorporated in Hong Kong and overseas. Ms. Ho holds a bachelor's degree in business and finance from the University of Portsmouth and a master's degree in corporate governance from the Open University of Hong Kong (currently known as Hong Kong Metropolitan University). Ms. Ho is a member of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Reported Earnings • Apr 29
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: CN¥4.38 loss per share (down from CN¥3.28 loss in FY 2020). Revenue: CN¥1.37b (up 48% from FY 2020). Net loss: CN¥507.1m (loss widened 98% from FY 2020). Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) missed analyst estimates by 182%. Over the next year, revenue is forecast to grow 25%, compared to a 32% growth forecast for the industry in Hong Kong. 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 (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Breakeven Date Change • Mar 31
Forecast to breakeven in 2022 The 4 analysts covering Gushengtang Holdings expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CN¥226.6m in 2022. Earnings growth of 134% is required to achieve expected profit on schedule. Buying Opportunity • Mar 15
Now 39% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be CN¥33.98, 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 94% over the last year. Announcement • Jan 22
Gushengtang Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended December 31, 2021 Gushengtang Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2021. The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company ("Shareholders") and potential investors of the Company that based on the Board's preliminary assessment of the Group's unaudited consolidated management accounts for the financial year ended 31 December 2021 ("FY2021"), it is expected that the Group will record (i) an increase in consolidated net loss for the FY2021 by not less than 70% as compared to that in the financial year ended 31 December 2020; and (ii) an increase in the adjusted net profit by not less than 75% as compared to that for the financial year ended 31 December 2020. Announcement • Dec 10
Gushengtang Holdings Limited has completed an IPO in the amount of HKD 808.462 million. Gushengtang Holdings Limited has completed an IPO in the amount of HKD 808.462 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,787,800
Price\Range: HKD 29
Discount Per Security: HKD 1.16
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,090,200
Price\Range: HKD 29
Discount Per Security: HKD 1.16
Transaction Features: Regulation S; Rule 144A Board Change • Dec 10
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. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
