Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$2.71, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 28x in the Consumer Retailing industry in Hong Kong. Total loss to shareholders of 10% over the past year. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Upcoming Dividend • Apr 27
Upcoming dividend of CN¥0.038 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 18 June 2026. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Hong Kong dividend payers (6.8%). Lower than average of industry peers (7.8%). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to HK$3.49, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 26x in the Consumer Retailing industry in Hong Kong. Total returns to shareholders of 64% over the past year. Announcement • Mar 15
Guoquan Food (Shanghai) Co., Ltd. Proposes Final Dividend for the Year Ended 31 December 2025, Payable on 18 June 2026 Guoquan Food (Shanghai) Co., Ltd. proposed Final Dividend of RMB 0.0381 per share for the Year Ended 31 December 2025. Date of shareholders' approval is 29 April 2026. Ex-dividend date is 04 May 2026. Record date is 11 May 2026. Payment date is 18 June 2026. Reported Earnings • Mar 13
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: CN¥0.16 (up from CN¥0.084 in FY 2024). Revenue: CN¥7.81b (up 21% from FY 2024). Net income: CN¥432.9m (up 88% from FY 2024). Profit margin: 5.5% (up from 3.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Consumer Retailing industry in Hong Kong. Announcement • Mar 12
Guoquan Food (Shanghai) Co., Ltd., Annual General Meeting, Apr 29, 2026 Guoquan Food (Shanghai) Co., Ltd., Annual General Meeting, Apr 29, 2026. Announcement • Mar 02
Guoquan Food (Shanghai) Co., Ltd. to Report Fiscal Year 2025 Results on Mar 12, 2026 Guoquan Food (Shanghai) Co., Ltd. announced that they will report fiscal year 2025 results on Mar 12, 2026 Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$4.00, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 38x in the Consumer Retailing industry in Hong Kong. Total returns to shareholders of 108% over the past year. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$3.65, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 39x in the Consumer Retailing industry in Hong Kong. Total returns to shareholders of 23% over the past year. New Risk • Aug 23
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 121% Cash payout ratio: 195% Dividend yield: 4.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Aug 23
Guoquan Food (Shanghai) Co., Ltd. Approves Interim Cash Dividend for the Six Months Ended June 30, 2025, Payable on October 17, 2025 Guoquan Food (Shanghai) Co., Ltd. announced at extraordinary general meeting held on August 22, 2025, the shareholders approved interim cash dividend of RMB 0.0716 per share (tax inclusive) for the six months ended June 30, 2025 was approved by the shareholders at the EGM. The interim dividend is expected to be paid by the company on October 17, 2025 to Shareholders whose names appear on the register of members of the company on September 2, 2025. Buy Or Sell Opportunity • Aug 15
Now 21% undervalued Over the last 90 days, the stock has risen 14% to HK$3.70. The fair value is estimated to be HK$4.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last year. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Reported Earnings • Aug 06
First half 2025 earnings released: EPS: CN¥0.068 (vs CN¥0.031 in 1H 2024) First half 2025 results: EPS: CN¥0.068 (up from CN¥0.031 in 1H 2024). Revenue: CN¥3.24b (up 22% from 1H 2024). Net income: CN¥183.3m (up 113% from 1H 2024). Profit margin: 5.7% (up from 3.2% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Consumer Retailing industry in Hong Kong. Announcement • Jul 21
Guoquan Food (Shanghai) Co., Ltd. to Report Q2, 2025 Results on Aug 04, 2025 Guoquan Food (Shanghai) Co., Ltd. announced that they will report Q2, 2025 results on Aug 04, 2025 Major Estimate Revision • Jul 17
Consensus EPS estimates increase by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from CN¥7.12b to CN¥7.25b. EPS estimate increased from CN¥0.13 to CN¥0.15 per share. Net income forecast to grow 73% next year vs 73% growth forecast for Consumer Retailing industry in Hong Kong. Consensus price target up from HK$2.48 to HK$4.30. Share price rose 3.0% to HK$3.41 over the past week. Upcoming Dividend • Jun 25
Upcoming dividend of CN¥0.075 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 29 August 2025. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Hong Kong dividend payers (7.4%). Lower than average of industry peers (44%). New Risk • May 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$2.90, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 29x in the Consumer Retailing industry in Hong Kong. Total loss to shareholders of 46% over the past year. Reported Earnings • May 04
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.084 (down from CN¥0.089 in FY 2023). Revenue: CN¥6.47b (up 6.2% from FY 2023). Net income: CN¥230.6m (down 3.8% from FY 2023). Profit margin: 3.6% (down from 3.9% in FY 2023). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Consumer Retailing industry in Hong Kong. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.59, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 28x in the Consumer Retailing industry in Hong Kong. Total loss to shareholders of 52% over the past year. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to HK$2.40, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Consumer Retailing industry in Hong Kong. Total loss to shareholders of 57% over the past year. Declared Dividend • Mar 31
Dividend of CN¥0.075 announced Shareholders will receive a dividend of CN¥0.075. Ex-date: 2nd July 2025 Payment date: 29th August 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.9%. Sustainability & Growth The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to decline by 81% over the next 2 years. Since a fall of 28% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Mar 30
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥8.41. Revenue: CN¥6.47b (up 6.2% from FY 2023). Net income: CN¥230.6m (down 3.8% from FY 2023). Profit margin: 3.6% (down from 3.9% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Consumer Retailing industry in Hong Kong. Announcement • Mar 28
Guoquan Food (Shanghai) Co., Ltd., Annual General Meeting, Jun 27, 2025 Guoquan Food (Shanghai) Co., Ltd., Annual General Meeting, Jun 27, 2025. Announcement • Mar 15
Guoquan Food (Shanghai) Co., Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Guoquan Food (Shanghai) Co., Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$2.22, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 18x in the Consumer Retailing industry in Hong Kong. Total loss to shareholders of 75% over the past year. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to HK$2.00, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 12x in the Consumer Retailing industry in Hong Kong. Total loss to shareholders of 70% over the past year. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$3.71, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 13x in the Consumer Retailing industry in Hong Kong. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$2.83, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 11x in the Consumer Retailing industry in Hong Kong. New Risk • Sep 09
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 9.5% 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. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$2.50, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 12x in the Consumer Retailing industry in Hong Kong. Reported Earnings • Aug 29
First half 2024 earnings released First half 2024 results: EPS: CN¥0.031. Net income: CN¥86.0m (up CN¥86.0m from 1H 2023). Announcement • Aug 16
Guoquan Food (Shanghai) Co., Ltd. to Report First Half, 2024 Results on Aug 28, 2024 Guoquan Food (Shanghai) Co., Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to HK$3.20, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 13x in the Consumer Retailing industry in Hong Kong. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$3.29, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 13x in the Consumer Retailing industry in Hong Kong. Announcement • Jun 28
Guoquan Food (Shanghai) Co., Ltd. Approves Final Cash Dividend for the Year Ended December 31, 2023, Payable No Later Than August 29, 2024 Guoquan Food (Shanghai) Co., Ltd. in its annual general meeting held on June 27, 2024 approved the final cash dividend of RMB 0.0521 per Share (tax inclusive) for the year ended December 31, 2023. The final dividend is expected to be paid by the Company no later than August 29, 2024 to Shareholders whose names appear on the register of members of the Company on Tuesday, July 9, 2024. Announcement • Jun 19
Guoquan Food (Shanghai) Co., Ltd. Announces Management Changes The board of directors of Guoquan Food (Shanghai) Co., Ltd. announced that the Company has engaged SWCS Corporate Services Group (Hong Kong) Limited (" SWCS ") to provide corporate secretarial services support to the Company, and since 2023, SWCS has nominated Ms. Ho Yin Kwan ("Ms. Ho") to assume the offices of the joint company secretary of the Company (the "Joint Company Secretary"), the process agent in Hong Kong (collectively, the "Process Agent") for the purpose of accepting service of process in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and for the purpose of accepting services of process and notices on the Company's behalf in Hong Kong under Rule 19A.13 of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), and an authorized representative of the Company for the purpose of Rule 3.05 of the Listing Rules (the "Authorized Representative"). The Board announced that Ms. Ho has tendered her resignation as the Joint Company Secretary, the Process Agent and the Authorized Representative with effect from June 18, 2024. SWCS has nominated Mr. Cheung Kai Cheong Willie ("Mr. Cheung") in place of Ms. Ho to act as one of the Joint Company Secretaries, the Process Agent and Authorized Representative with effect from June 18, 2024. Mr. Wang Hui ("Mr. Wang") has been, and will remain as, the other Joint Company Secretary. Mr. Wang Hui is its Board secretary and a joint company secretary of Company. He was also appointed as the Chief Financial Officer of the Company in February 2024. Mr. Wang is responsible for managing the overall financial and capital market related work. Mr. Wang joined its Group in September 2020. Prior to joining its Group, Mr. Wang worked in PricewaterhouseCoopers Zhongtian from September 2006 to August 2014 with his last position as an audit manager. From August 2014 to May 2015, Mr. Wang worked in Bayer (China) Limited. From June 2015 to August 2016, Mr. Wang worked in Covestro Polymers (China) Co., Ltd. From September 2016 to September 2020, Mr. Wang worked as a financial director in YANG'S DUMPLING Enterprise Management Development (Shanghai) Co., Ltd. Mr. Wang has been a Certified Public Accountant of The Chinese Institute of Certified Public Accountants (CICPA) since December 2009 (currently non-practising). Mr. Wang obtained his bachelor's degree in mathematics and applied mathematics in East China University of Science and Technology in the PRC in July 2006. Mr. Cheung Kai Cheong Willie is a senior manager of SWCS, 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. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: CN¥0.089 (vs CN¥0.089 in FY 2022) Full year 2023 results: EPS: CN¥0.089 (in line with FY 2022). Revenue: CN¥6.09b (down 15% from FY 2022). Net income: CN¥239.6m (up 4.2% from FY 2022). Profit margin: 3.9% (up from 3.2% in FY 2022). The increase in margin was driven by lower expenses. Announcement • Mar 29
Guoquan Food (Shanghai) Co., Ltd. Proposes Final Dividend for the Year Ended December 31, 2023, Payable on August 29, 2024 Guoquan Food (Shanghai) Co., Ltd. proposed final dividend of RMB 0.0521 per share for the year ended December 31, 2023. Date of shareholders' approval: June 27, 2024, Record date: July 9, 2024, Payment date: August 29, 2024. Ex-dividend date: July 2, 2024. Announcement • Mar 20
Guoquan Food (Shanghai) Co., Ltd. to Report Fiscal Year 2023 Results on Mar 28, 2024 Guoquan Food (Shanghai) Co., Ltd. announced that they will report fiscal year 2023 results on Mar 28, 2024 Buy Or Sell Opportunity • Feb 09
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to HK$7.89. The fair value is estimated to be HK$6.37, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Feb 02
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 Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Large one-off items impacting financial results. Announcement • Jan 31
Guoquan Food (Shanghai) Co., Ltd. Announces Resignation of Xia Ni as Chief Financial Officer, Effective 1 February 2024 The board of directors of Guoquan Food (Shanghai) Co., Ltd. announced that Mr. Xia Ni (‘Mr. Xia’) has tendered his resignation as a chief financial officer of the Company with effect from 1 February 2024 due to career development. With effect from the date of Mr. Xia's resignation, he will cease to hold any position in the Company. Mr. Xia has confirmed that he has no disagreement with the Board and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$6.70, the stock trades at a trailing P/E ratio of 73.3x. Average trailing P/E is 10x in the Consumer Retailing industry in Hong Kong. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$7.13, the stock trades at a trailing P/E ratio of 77.9x. Average trailing P/E is 10x in the Consumer Retailing industry in Hong Kong. Announcement • Nov 02
Guoquan Food (Shanghai) Co., Ltd. has completed an IPO in the amount of HKD 411.440744 million. Guoquan Food (Shanghai) Co., Ltd. has completed an IPO in the amount of HKD 411.440744 million.
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 24,919,200
Price\Range: HKD 5.98
Discount Per Security: HKD 0.1794
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 37,002,800
Price\Range: HKD 5.98
Discount Per Security: HKD 0.1794
Security Name: H Shares
Security Type: Common Stock
Securities Offered: 6,880,800
Price\Range: HKD 5.98
Discount Per Security: HKD 0.1794
Transaction Features: Regulation S; Rule 144A Board Change • Nov 02
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Non-Executive Director Kangping Shi 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. Lack of board continuity. 
