New Risk • Jun 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (HK$158.5m market cap, or US$20.2m). Upcoming Dividend • Jun 04
Upcoming dividend of HK$0.01 per share Eligible shareholders must have bought the stock before 11 June 2026. Payment date: 30 June 2026. The company last paid an ordinary dividend in . The average dividend yield among industry peers is 5.0%. Announcement • May 26
Huicheng International Holdings Limited Approves Special Final Dividend for the Year Ended 31 December 2025 Huicheng International Holdings Limited at its AGM held on 26 May 2026 approved special final dividend of HK 1.0 cent per ordinary share of the Company for the year ended 31 December 2025. Reported Earnings • Mar 27
Full year 2025 earnings released: CN¥0.027 loss per share (vs CN¥0.033 loss in FY 2024) Full year 2025 results: CN¥0.027 loss per share (improved from CN¥0.033 loss in FY 2024). Revenue: CN¥139.4m (down 11% from FY 2024). Net loss: CN¥93.4m (loss narrowed 15% from FY 2024). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Announcement • Mar 25
Huicheng International Holdings Limited, Annual General Meeting, May 26, 2026 Huicheng International Holdings Limited, Annual General Meeting, May 26, 2026. Announcement • Mar 12
Huicheng International Holdings Limited to Report Fiscal Year 2025 Results on Mar 24, 2026 Huicheng International Holdings Limited announced that they will report fiscal year 2025 results on Mar 24, 2026 New Risk • Jan 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 14% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$127.5m market cap, or US$16.3m). New Risk • Dec 10
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: Major Risk Earnings have declined by 2.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$144.7m market cap, or US$18.6m). Reported Earnings • Aug 28
First half 2025 earnings released: CN¥0.013 loss per share (vs CN¥0.013 loss in 1H 2024) First half 2025 results: CN¥0.013 loss per share (in line with 1H 2024). Revenue: CN¥67.3m (down 18% from 1H 2024). Net loss: CN¥46.1m (loss widened 8.6% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Aug 15
Huicheng International Holdings Limited to Report First Half, 2025 Results on Aug 26, 2025 Huicheng International Holdings Limited announced that they will report first half, 2025 results on Aug 26, 2025 New Risk • Jun 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 16% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 16% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$313.5m market cap, or US$39.9m). Reported Earnings • May 01
Full year 2024 earnings released: CN¥0.033 loss per share (vs CN¥0.043 loss in FY 2023) Full year 2024 results: CN¥0.033 loss per share (improved from CN¥0.043 loss in FY 2023). Revenue: CN¥156.1m (down 25% from FY 2023). Net loss: CN¥109.4m (loss narrowed 23% from FY 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Apr 25
Huicheng International Holdings Limited, Annual General Meeting, May 20, 2025 Huicheng International Holdings Limited, Annual General Meeting, May 20, 2025, at 14:00 China Standard Time. Location: 21st floor, grand millennium plaza, 183 queen`s road central, sheung wan, Hong Kong Board Change • Apr 23
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. No experienced directors. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Ka Wang Ho was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 22
Full year 2024 earnings released: CN¥0.033 loss per share (vs CN¥0.043 loss in FY 2023) Full year 2024 results: CN¥0.033 loss per share (improved from CN¥0.043 loss in FY 2023). Revenue: CN¥156.1m (down 25% from FY 2023). Net loss: CN¥109.4m (loss narrowed 23% from FY 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Mar 10
Huicheng International Holdings Limited to Report Fiscal Year 2024 Results on Mar 21, 2025 Huicheng International Holdings Limited announced that they will report fiscal year 2024 results on Mar 21, 2025 New Risk • Mar 10
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: Major Risk Earnings have declined by 32% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$272.2m market cap, or US$35.0m). Board Change • Jan 07
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. No experienced directors. 6 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Ka Wang Ho was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jan 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$248.1m market cap, or US$31.9m). Reported Earnings • Aug 28
First half 2024 earnings released: CN¥0.013 loss per share (vs CN¥0.021 loss in 1H 2023) First half 2024 results: CN¥0.013 loss per share (improved from CN¥0.021 loss in 1H 2023). Revenue: CN¥82.3m (down 28% from 1H 2023). Net loss: CN¥42.4m (loss narrowed 38% from 1H 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Announcement • Aug 14
Huicheng International Holdings Limited to Report First Half, 2024 Results on Aug 23, 2024 Huicheng International Holdings Limited announced that they will report first half, 2024 results on Aug 23, 2024 Upcoming Dividend • Jun 28
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 05 July 2024. Payment date: 19 July 2024. The company last paid an ordinary dividend in March 2014. The average dividend yield among industry peers is 3.3%. Announcement • May 18
China Outfitters Holdings Limited Approves Special Final Dividend for the Year Ended 31 December 2023 China Outfitters Holdings Limited announced at the AGM held on May 17, 2024, to declare and pay to the shareholders of the Company a special final dividend of HK2.0 cents per ordinary share of the Company for the year ended 31 December 2023 out of contributed surplus of the Company ("Contributed Surplus") by way of the reduction of the amounts ofRMB59,501,000 (approximately HKD 65,658,000) standing at the credit of the Contributed Surplus. Announcement • Apr 26
China Outfitters Holdings Limited, Annual General Meeting, May 17, 2024 China Outfitters Holdings Limited, Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: 21st Floor, Grand Millennium Plaza, 183 Queen's Road Central, Sheung Wan Hong Kong Agenda: To receive, consider and adopt the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and auditors for the year ended 31 December 2023; to re-elect Mr. Zhang Yongli as an executive director of the Company; to re-elect Mr. Sun David Lee as an executive director of the Company; to re-elect Ms. Huang Xiaoyun as an executive director of the Company; to authorise the board of directors of the Company (the "Board") to fix the remuneration of the directors of the Company; to re-appoint Ernst & Young as auditors of the Company and to authorise the Board to fix their remuneration; and to consider other matters. Reported Earnings • Mar 27
Full year 2023 earnings released Full year 2023 results: Revenue: CN¥207.7m (flat on FY 2022). Net loss: CN¥142.5m (loss narrowed 44% from FY 2022). Announcement • Mar 09
China Outfitters Holdings Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 China Outfitters Holdings Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Recent Insider Transactions • Oct 31
CFO & Executive Director recently bought HK$2.2m worth of stock On the 26th of October, Xiaoyun Huang bought around 90m shares on-market at roughly HK$0.024 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xiaoyun has been a buyer over the last 12 months, purchasing a net total of HK$3.6m worth in shares. Reported Earnings • Aug 29
First half 2023 earnings released: CN¥0.021 loss per share (vs CN¥0.022 loss in 1H 2022) First half 2023 results: CN¥0.021 loss per share (improved from CN¥0.022 loss in 1H 2022). Revenue: CN¥113.7m (down 6.5% from 1H 2022). Net loss: CN¥68.1m (loss narrowed 7.7% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Aug 16
China Outfitters Holdings Limited to Report First Half, 2023 Results on Aug 25, 2023 China Outfitters Holdings Limited announced that they will report first half, 2023 results on Aug 25, 2023 Reported Earnings • Mar 26
Full year 2022 earnings released: CN¥0.077 loss per share (vs CN¥0.046 loss in FY 2021) Full year 2022 results: CN¥0.077 loss per share (further deteriorated from CN¥0.046 loss in FY 2021). Revenue: CN¥206.5m (down 36% from FY 2021). Net loss: CN¥252.2m (loss widened 66% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. No experienced directors. 7 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Wilson Kwong was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 23
First half 2022 earnings released: CN¥0.022 loss per share (vs CN¥0.015 loss in 1H 2021) First half 2022 results: CN¥0.022 loss per share (down from CN¥0.015 loss in 1H 2021). Revenue: CN¥121.6m (down 27% from 1H 2021). Net loss: CN¥73.8m (loss widened 52% from 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. 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. No experienced directors. 7 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Wilson Kwong was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 22
China Outfitters Holdings Limited, Annual General Meeting, May 27, 2022 China Outfitters Holdings Limited, Annual General Meeting, May 27, 2022, at 14:00 China Standard Time. Agenda: To consider and adopt the audited consolidated financial statements of the Company and subsidiaries and the reports of the directors and auditors for the year ended 31 December 2021; to re-elect executive director of the Company; to authorise the board of directors of the Company to fix the remuneration of the directors of the Company; and to re-appoint Ernst & Young as auditors of the Company and to authorise the Board to fix their remuneration. Reported Earnings • Aug 27
First half 2021 earnings released: CN¥0.015 loss per share (vs CN¥0.014 loss in 1H 2020) The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: CN¥167.6m (down 44% from 1H 2020). Net loss: CN¥48.6m (loss widened 7.2% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 20
Full year 2020 earnings released: CN¥0.037 loss per share (vs CN¥0.006 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CN¥727.8m (down 11% from FY 2019). Net loss: CN¥122.2m (down CN¥142.1m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 24
Full year 2020 earnings released: CN¥0.037 loss per share (vs CN¥0.006 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CN¥727.8m (down 11% from FY 2019). Net loss: CN¥122.2m (down CN¥142.1m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Mar 11
China Outfitters Holdings Limited to Report Fiscal Year 2020 Results on Mar 22, 2021 China Outfitters Holdings Limited announced that they will report fiscal year 2020 results on Mar 22, 2021 Announcement • Jan 09
Huang Xiaoyun acquired 3.77% stake in China Outfitters Holdings Limited (SEHK:1146) from Orchid Asia IV, L.P., a fund managed by Orchid Asia Group Management, Ltd. for HKD 15.6 million. Huang Xiaoyun acquired 3.77% stake in China Outfitters Holdings Limited (SEHK:1146) from Orchid Asia IV, L.P., a fund managed by Orchid Asia Group Management, Ltd. for HKD 15.6 million on January 7, 2021. Before the transaction, Huang Xiaoyun holds 190.6 million shares representing 5.53% take and after the transaction Huang Xiaoyun now owns 320.6 million shares representing 9.3% stake in China Outfitters Holdings.
Huang Xiaoyun completed the acquisition of 3.77% stake in China Outfitters Holdings Limited (SEHK:1146) from Orchid Asia IV, L.P., a fund managed by Orchid Asia Group Management, Ltd. for HKD 15.6 million on January 7, 2021. Is New 90 Day High Low • Dec 02
New 90-day high: HK$0.24 The company is up 59% from its price of HK$0.15 on 03 September 2020. The Hong Kong market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 23% over the same period. Announcement • Aug 12
China Outfitters Holdings Limited to Report First Half, 2020 Results on Aug 24, 2020 China Outfitters Holdings Limited announced that they will report first half, 2020 results on Aug 24, 2020 
