Upcoming Dividend • May 11
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 18 May 2026. Payment date: 29 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.5%. Within top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (3.9%). Reported Earnings • Apr 22
Full year 2025 earnings released: EPS: HK$0.77 (vs HK$0.37 in FY 2024) Full year 2025 results: EPS: HK$0.77 (up from HK$0.37 in FY 2024). Revenue: HK$8.44b (up 2.8% from FY 2024). Net income: HK$398.0m (up 113% from FY 2024). Profit margin: 4.7% (up from 2.3% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Mar 21
Final dividend of HK$0.50 announced Shareholders will receive a dividend of HK$0.50. Ex-date: 18th May 2026 Payment date: 29th June 2026 Dividend yield will be 7.4%, which is higher than the industry average of 4.9%. Sustainability & Growth Dividend is not covered by earnings (159% earnings payout ratio). However, it is well covered by cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 76% to bring the payout ratio under control. However, EPS has declined by 29% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: HK$0.77 (vs HK$0.37 in FY 2024) Full year 2025 results: EPS: HK$0.77 (up from HK$0.37 in FY 2024). Revenue: HK$8.58b (up 4.4% from FY 2024). Net income: HK$398.0m (up 113% from FY 2024). Profit margin: 4.6% (up from 2.3% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Mar 19
Transport International Holdings Limited, Annual General Meeting, May 14, 2026 Transport International Holdings Limited, Annual General Meeting, May 14, 2026. Announcement • Feb 05
Transport International Holdings Limited to Report Fiscal Year 2025 Results on Mar 19, 2026 Transport International Holdings Limited announced that they will report fiscal year 2025 results on Mar 19, 2026 Recent Insider Transactions • Oct 02
Non-Executive Director recently bought HK$905k worth of stock On the 26th of September, Winnie J. Ng bought around 86k shares on-market at roughly HK$10.47 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$3.4m more in shares than they have sold in the last 12 months. Reported Earnings • Sep 23
First half 2025 earnings released: EPS: HK$0.37 (vs HK$0.24 in 1H 2024) First half 2025 results: EPS: HK$0.37 (up from HK$0.24 in 1H 2024). Revenue: HK$4.23b (up 4.0% from 1H 2024). Net income: HK$190.0m (up 58% from 1H 2024). Profit margin: 4.5% (up from 3.0% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 01
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 08 September 2025. Payment date: 21 October 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.6%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (4.5%). Reported Earnings • Aug 23
First half 2025 earnings released: EPS: HK$0.37 (vs HK$0.24 in 1H 2024) First half 2025 results: EPS: HK$0.37 (up from HK$0.24 in 1H 2024). Revenue: HK$4.23b (up 4.0% from 1H 2024). Net income: HK$190.0m (up 58% from 1H 2024). Profit margin: 4.5% (up from 3.0% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jul 24
Non-Executive Director recently bought HK$511k worth of stock On the 18th of July, Winnie J. Ng bought around 58k shares on-market at roughly HK$8.87 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$1.8m. Insiders have collectively bought HK$2.5m more in shares than they have sold in the last 12 months. Announcement • May 15
Transport International Holdings Limited Approves Final Dividend Transport International Holdings Limited at its AGM held on May 15, 2025 approved ordinary final dividend of HKD 0.50 per share. Recent Insider Transactions • May 13
Non-Executive Director recently bought HK$210k worth of stock On the 8th of May, Winnie J. Ng bought around 24k shares on-market at roughly HK$8.88 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$1.8m. Insiders have collectively bought HK$3.1m more in shares than they have sold in the last 12 months. Upcoming Dividend • May 12
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 26 June 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.5%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (4.6%). Recent Insider Transactions • May 08
Non-Executive Director recently bought HK$1.8m worth of stock On the 2nd of May, Winnie J. Ng bought around 200k shares on-market at roughly HK$8.96 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$2.9m more in shares than they have sold in the last 12 months. Announcement • Apr 14
Transport International Holdings Limited to Report First Half, 2025 Results on Aug 21, 2025 Transport International Holdings Limited announced that they will report first half, 2025 results on Aug 21, 2025 Buy Or Sell Opportunity • Mar 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.9% to HK$8.75. The fair value is estimated to be HK$7.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has declined by 5.5%. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: HK$0.37 (vs HK$0.83 in FY 2023) Full year 2024 results: EPS: HK$0.37 (down from HK$0.83 in FY 2023). Revenue: HK$8.33b (up 5.6% from FY 2023). Net income: HK$187.3m (down 53% from FY 2023). Profit margin: 2.2% (down from 5.1% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Mar 10
Transport International Holdings Limited to Report Fiscal Year 2024 Results on Mar 20, 2025 Transport International Holdings Limited announced that they will report fiscal year 2024 results on Mar 20, 2025 Announcement • Nov 01
Transport International Holdings Limited Announces Appointment of Wang Xiao Bin as an Independent Non-Executive Director and A Member of the Audit & Risk Management Committee Transport International Holdings Limited announced the appointment of Ms. WANG Xiao Bin as an independent non-executive director and a member of the Audit & Risk Management Committee of the Company both with effect from 1 November 2024. Ms. WANG, aged 56, is currently an independent non-executive director of Hang Seng Bank Limited (listed on the Main Board of the Stock Exchange of Hong Kong Limited (Stock Code: 11)) and Cathay Pacific Airways Limited (listed on the Main Board of the Stock Exchange of Hong Kong Limited (Stock Code: 293)) and a director of China Southern Power Grid International (HK) Co., Limited. Ms. WANG was an independent non-executive director of Worley Limited (a company listed on the Australian Securities Exchange) from 2011 to June 2024. She was a senior executive of China Resources Power Holdings Company Limited ("China Resources") (listed on the Main Board of the Stock Exchange of Hong Kong Limited (Stock Code: 836)) from 2003 to 2023 and held positions including Chief Financial Officer and Senior Vice President. She also acted as an Executive Director of China Resources
from 2006 to 2023. Prior to that, Ms. WANG was a Director of Corporate Finance at ING Investment Banking where she worked from 1995 to 2003. She had worked at the audit and business advisory division of Price Waterhouse (now known as PricewaterhouseCoopers) in Australia from 1990 to 1995. Ms. WANG holds a Graduate Diploma from the Securities Institute of Australia (now known as the Financial Services Institute of Australasia) and a Bachelor's Degree in Commerce from Murdoch University, Australia. She was qualified as a chartered accountant in Australia and is a member of the Australian Society of Certified Practising Accountants (now known as CPA Australia). Reported Earnings • Sep 18
First half 2024 earnings released: EPS: HK$0.24 (vs HK$0.28 in 1H 2023) First half 2024 results: EPS: HK$0.24 (down from HK$0.28 in 1H 2023). Revenue: HK$4.06b (up 6.8% from 1H 2023). Net income: HK$120.3m (down 10.0% from 1H 2023). Profit margin: 3.0% (down from 3.5% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
First half 2024 earnings released: EPS: HK$0.24 (vs HK$0.28 in 1H 2023) First half 2024 results: EPS: HK$0.24 (down from HK$0.28 in 1H 2023). Revenue: HK$4.06b (up 6.8% from 1H 2023). Net income: HK$120.3m (down 10.0% from 1H 2023). Profit margin: 3.0% (down from 3.5% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Aug 02
Transport International Holdings Limited to Report First Half, 2024 Results on Aug 15, 2024 Transport International Holdings Limited announced that they will report first half, 2024 results on Aug 15, 2024 Recent Insider Transactions • Jun 15
Non-Executive Director recently bought HK$1.1m worth of stock On the 6th of June, Winnie J. Ng bought around 124k shares on-market at roughly HK$8.96 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$3.4m more in shares than they have sold in the last 12 months. Upcoming Dividend • May 13
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 20 May 2024. Payment date: 28 June 2024. Payout ratio and cash payout ratio are on the higher end at 96% and 77% respectively. Trailing yield: 11%. Within top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (4.6%). Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: HK$0.83 (vs HK$0.30 in FY 2022) Full year 2023 results: EPS: HK$0.83 (up from HK$0.30 in FY 2022). Revenue: HK$7.88b (up 19% from FY 2022). Net income: HK$401.7m (up 180% from FY 2022). Profit margin: 5.1% (up from 2.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Mar 08
Transport International Holdings Limited to Report Fiscal Year 2023 Final Results on Mar 21, 2024 Transport International Holdings Limited announced that they will report fiscal year 2023 final results on Mar 21, 2024 Announcement • Dec 21
Transport International Holdings Limited Announces Board Changes, Effective from January 1, 2024 Transport International Holdings Limited announced that Ms. Lana WOO will retire from her role as the company secretary of the Company and an authorized representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Companies Ordinance, each with effect from 1 January 2024. Ms. Woo has been the Company Secretary since 1999. The Board announced that following the retirement of Ms. Woo, Mr. Henry LEUNG Ho Yin will succeed Ms. Woo as the Company Secretary and an Authorized Representative with effect from 1 January 2024. Mr. Leung, aged 53, a solicitor of the High Court of Hong Kong, joined the Group in 2015 and is the Legal Director of the Group. Mr. Leung possesses the requisite qualification and experience as required under Rule 3.28 of the Listing Rules and holds a Bachelor of Laws degree from the University of Hong Kong and an Executive Master of Business Administration degree from the Chinese University of Hong Kong. Announcement • Aug 18
Transport International Holdings Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 18 October 2023 Transport International Holdings Limited announced interim dividend of HKD 0.3 per share for the six months ended 30 June 2023. Ex-dividend date is 04 September 2023; Record date is 06 September 2023; and Payment date is 18 October 2023. Announcement • Aug 12
Transport International Holdings Limited Decides to Change of Accounting Treatment for Investment Properties Transport International Holdings Limited announced that in accordance with "HKAS 40 - Investment property" and "HKAS 8 - Accounting policies, changes in accounting estimates and errors'' under the Hong Kong Accounting Standards, and with the aim of reflecting the value of investment properties and investment property under development held by the Group in a more objective manner and provide the shareholders of the Company with more up-to-date financial information, the Company has decided a change of accounting treatment for IP and IPUD from the cost model to the fair value model. Details on the expected Change in Accounting Policy are as follows: Change of Accounting Policy. Prior to the Change in Accounting Policy, the Group measured IP and IPUD under the cost model, whereby IP and IPUD were stated at historical cost less accumulated depreciation and impairment charge, if any. After the Change in Accounting Policy, The Group will adopt the fair value model in measuring IP and IPUD and no depreciation will be charged. IP and IPUD will be carried at fair value, representing the open market value determined as at each reporting end-date by external independent valuer which is expected to adopt the income capitalisation approach and residual approach to align with the investment nature of IP and IPUD respectively. However, under the cost model, where properties are measured at depreciated cost, the book value of IP and IPUD may not appropriately reflect its market value. The board of directors of the Company (the "Board") believes the value of IP and IPU D held by the Group will be more objectively and fairly represented through the adoption of the fair value model. This change will also provide the Shareholders with up-to-date financial Information and improved visibility, in comparison to the cost model. Pursuant to the relevant requirements, including the "HKAS 40 - Investment Property" and "HKAS 8- Accounting policies, changes in accounting estimate and errors", as the Change in Accounting Policy involves a change in the measurement of the Group's IP and IPUD, the Company will be required to make retrospective restatements to the respective consolidated financial statements of the Group as at 30 June 2022 and 31 December 2022 already published. Based on a preliminary review of the unaudited consolidated management accounts of the Company for the six months ended 30 June 2023 (the "Interim 2023") and information currently available, the Change in Accounting Policy is expected to contribute to (i) an increase of approximately HKD 2,500 million, HKD 2,760 million and HKD 2,930 million in consolidated net assets of the Company as at 30 June 2022, 31 December 2022 and 30 June 2023 respectively; and (ii) an increase in profit of approximately HKD 200 million, HKD460 million and HKD170 million in consolidated profit or loss of the Company for the year ended 31 December 2022 and Interim 2023 respectively, which is estimated to contribute to a consolidated net profit attributable to the equity holders of about HKD130 million to HKD 140 million for Interim 2023 (estimate based on draft unfinalised figures and subject to change), as compared to the restated consolidated net profit of approximately HKD 110 million for the corresponding period in 2022. As the Company is still in the process of preparing and finalising its unaudited consolidated interim results for Interim 2023, the information contained in this announcement is only a preliminary assessment and estimate based on the latest unaudited consolidated management accounts and information currently available, which have not been confirmed by the auditors and may be subject to change. In particular, the above Interim 2023 results estimate is subject to the finalisation of the valuation results by the independent valuers, the actual results of the Group for Interim 2023 may be different from the information contained in the information contained in the Group for Interim 20 23 (estimate based on draft unaudited consolidated interim results of the Company is still in the company is still in the process of the company is still in the company's unaudited consolidated interim results. Announcement • Aug 03
Transport International Holdings Limited to Report First Half, 2023 Results on Aug 17, 2023 Transport International Holdings Limited announced that they will report first half, 2023 results on Aug 17, 2023 New Risk • Jul 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 164% Paying a dividend despite having no free cash flows. Earnings have declined by 8.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Announcement • Jun 16
Transport International Holdings Limited Announces Board Changes Transport International Holdings Limited announces that Mr. KWOK Kai- wang, Christopher ("Mr. Christopher KWOK") has been appointed as a non-executive director of the Company and a director of its two subsidiary companies, namely, The Kowloon Motor Bus Company (1933) Limited ("KMB") and Long Win Bus Company Limited ("LWB"), with effect from 15 June 2023 to fill up the vacancy following the passing away of Mr. NG. Mr. Christopher KWOK, aged 36, has been an executive director of Sun Hung Kai Properties Limited ("SHKP", a substantial shareholder of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO")) since April 2016 and a director of certain subsidiaries of SHKP. He joined the Sun Hung Kai Properties Group (the "SHKP Group") in 2011 and is primarily responsible for the leasing of residential, retail and commercial properties of the SHKP Group in Hong Kong and on the Mainland. Besides, he assumes the overall responsibilities for the property business in Northern China. Mr. Christopher KWOK also assists the Chairman of SHKP in all other non-property businesses of the SHKP Group in which he is a non-executive director of SUNeVision Holdings Ltd. In addition, Mr. Christopher KWOK is a member of the General Committee of the Employers' Federation of Hong Kong and an advisor and a member of the Development Committee of Hong Kong Foundation. He is also a member of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference and a vice- chairman of Greater Bay Area Homeland Youth Community Foundation. Mr. Christopher KWOK holds a Bachelor of Science Degree in Chemistry from Harvard University and a Master's degree in Business Administration from Stanford Graduate School of Business. The Board of the Company further announces the appointment of Mr. WONG Hong Kit ("Mr. WONG"), in place of Ms. WONG Sze Lai, Susanna, as alternate director to Mr. KWOK Ping Luen, Raymond of the Company and of its subsidiary companies, KMB and LWB, with effect from 15 June 2023. Mr. WONG, aged 51, has around 29 years of experience in the field of auditing, accounting and financial management. He is the Chief Financial Officer of non-property portfolio businesses of the SHKP Group, overseeing the finance function of the non- property business units. Before joining the SHKP Group, Mr. WONG was the Chief Financial Officer of HKT Group Limited. Prior to that, Mr. WONG was the Group Financial Controller of TOM Group Limited and the Associate Director of Finance in another listed company in telecommunications industry in Hong Kong. Mr. WONG has also accumulated 10 years' experience in PricewaterhouseCoopers. Mr. WONG graduated from the Chinese University of Hong Kong with a bachelor degree in Business Administration, and is a fellow member of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. Announcement • Jun 06
Transport International Holdings Limited Announces Demise of NG Siu Chan, Non- Executive Director The board of director of Transport International Holdings Limited announced that Mr. NG Siu Chan ("Mr. Ng"), a non- executive director of the Company, has passed away recently. Mr. Ng became a director of The Kowloon Motor Bus Company (1933) Limited on 3 March 1983. Mr. Ng performed his duties diligently and conscientiously and made valuable contributions to the development of the Company during his tenure of office. The Board would like to express its gratitude for the contributions made by Mr. Ng to the Company and convey its sincere condolences to Mr. Ng's family. Recent Insider Transactions • Jun 02
Independent Chairman of the Board recently bought HK$2.5m worth of stock On the 30th of May, Nai-Pang Leung bought around 239k shares on-market at roughly HK$10.47 per share. This transaction amounted to 86% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Nai-Pang has been a buyer over the last 12 months, purchasing a net total of HK$3.1m worth in shares. Recent Insider Transactions • Jun 02
Independent Chairman of the Board recently bought HK$2.5m worth of stock On the 30th of May, Nai-Pang Leung bought around 239k shares on-market at roughly HK$10.47 per share. This transaction amounted to 86% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Nai-Pang has been a buyer over the last 12 months, purchasing a net total of HK$3.1m worth in shares. Announcement • May 19
Transport International Holdings Limited Approves Final Dividend Transport International Holdings Limited at the Annual General Meeting held on 18 May 2023, approved an ordinary final dividend of HKD 0.50 per share. Upcoming Dividend • May 15
Upcoming dividend of HK$0.50 per share at 4.7% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 30 June 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (1.7%). Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Net income: HK$143.6m (down 41% from FY 2021). Reported Earnings • Aug 19
First half 2022 earnings released: HK$0.20 loss per share (vs HK$0.044 profit in 1H 2021) First half 2022 results: HK$0.20 loss per share (down from HK$0.044 profit in 1H 2021). Revenue: HK$3.31b (down 3.0% from 1H 2021). Net loss: HK$94.5m (down HK$114.7m from profit in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • May 16
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 30 June 2022. Payout ratio is on the higher end at 94% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (2.0%). Recent Insider Transactions • Apr 27
Independent Chairman of the Board recently bought HK$715k worth of stock On the 20th of April, Nai-Pang Leung bought around 54k shares on-market at roughly HK$13.24 per share. In the last 3 months, they made an even bigger purchase worth HK$1.5m. Nai-Pang has been a buyer over the last 12 months, purchasing a net total of HK$3.7m worth in shares. Recent Insider Transactions • Apr 14
Independent Chairman of the Board recently bought HK$1.5m worth of stock On the 12th of April, Nai-Pang Leung bought around 114k shares on-market at roughly HK$13.15 per share. This was the largest purchase by an insider in the last 3 months. Nai-Pang has been a buyer over the last 12 months, purchasing a net total of HK$2.9m worth in shares. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: HK$0.53 (down from HK$4.21 in FY 2020). Revenue: HK$7.46b (up 20% from FY 2020). Net income: HK$245.0m (down 87% from FY 2020). Profit margin: 3.3% (down from 31% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 06
Independent Non-Executive Director recently bought HK$142k worth of stock On the 3rd of January, Ka-Cheung Li bought around 11k shares on-market at roughly HK$12.69 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$1.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 02
Independent Chairman of the Board recently bought HK$801k worth of stock On the 31st of August, Nai-Pang Leung bought around 56k shares on-market at roughly HK$14.40 per share. This was the largest purchase by an insider in the last 3 months. Nai-Pang has been a buyer over the last 12 months, purchasing a net total of HK$1.4m worth in shares. Reported Earnings • Aug 23
First half 2021 earnings released: EPS HK$0.044 (vs HK$0.12 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$3.41b (up 11% from 1H 2020). Net income: HK$20.2m (up HK$72.0m from 1H 2020). Profit margin: 0.6% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 17
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 30 June 2021. Trailing yield: 3.1%. Lower than top quartile of Hong Kong dividend payers (6.0%). Higher than average of industry peers (1.7%). Reported Earnings • Apr 24
Full year 2020 earnings released: EPS HK$4.21 (vs HK$1.38 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: HK$6.19b (down 24% from FY 2019). Net income: HK$1.90b (up 215% from FY 2019). Profit margin: 31% (up from 7.5% in FY 2019). 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 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS HK$4.21 (vs HK$1.38 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: HK$7.44b (down 8.3% from FY 2019). Net income: HK$1.90b (up 215% from FY 2019). Profit margin: 26% (up from 7.5% in FY 2019). 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 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 16
New 90-day high: HK$15.58 The company is up 5.0% from a price of HK$14.90 on 16 December 2020. Underperformed the Hong Kong market, which is up 12% over the last 90 days. Lagged the Transportation industry, which is up 8.0% over the same period. Is New 90 Day High Low • Feb 08
New 90-day low: HK$14.34 The company is down 3.0% from its price of HK$14.72 on 10 November 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Transportation industry, which is up 11% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: HK$15.32 The company is up 6.0% from its price of HK$14.46 on 21 August 2020. The Hong Kong market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. Its price trend is also similar to the Transportation industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: HK$13.96 The company is down 3.0% from its price of HK$14.42 on 31 July 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Transportation industry, which is down 1.0% over the same period. 
