Announcement • May 27
China Ruyi Holdings Limited, Annual General Meeting, Jun 22, 2026 China Ruyi Holdings Limited, Annual General Meeting, Jun 22, 2026, at 11:00 China Standard Time. Location: room 3701, 37/f, lee garden one, 33 hysan avenue, causeway bay, Hong Kong New Risk • Apr 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Major Estimate Revision • Apr 09
Consensus revenue estimates fall by 36% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥5.55b to CN¥3.55b. EPS estimate fell from CN¥0.159 to CN¥0.095 per share. Net income forecast to shrink 17% next year vs 9.7% growth forecast for Entertainment industry in Hong Kong . Consensus price target down from HK$4.18 to HK$3.03. Share price rose 6.2% to HK$1.55 over the past week. Reported Earnings • Apr 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥11.42 (up from CN¥0.016 loss in FY 2024). Revenue: CN¥3.34b (down 8.9% from FY 2024). Net income: CN¥1.80b (up CN¥1.99b from FY 2024). Profit margin: 54% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 187% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Mar 19
China Ruyi Holdings Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 China Ruyi Holdings Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Dec 19
China Ruyi Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 2.21 billion. China Ruyi Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 2.21 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 390,000,000
Price\Range: HKD 3
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 400,000,000
Price\Range: HKD 2.6
Transaction Features: Subsequent Direct Listing Price Target Changed • Aug 28
Price target increased by 14% to HK$3.87 Up from HK$3.40, the current price target is an average from 3 analysts. New target price is 33% above last closing price of HK$2.90. Stock is up 34% over the past year. The company is forecast to post earnings per share of CN¥0.12 next year compared to a net loss per share of CN¥0.016 last year. Reported Earnings • Aug 26
First half 2025 earnings released: EPS: CN¥0.081 (vs CN¥0.01 loss in 1H 2024) First half 2025 results: EPS: CN¥0.081 (up from CN¥0.01 loss in 1H 2024). Revenue: CN¥2.21b (up 20% from 1H 2024). Net income: CN¥1.24b (up CN¥1.35b from 1H 2024). Profit margin: 56% (up from net loss in 1H 2024). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Aug 18
China Ruyi Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 1.17 billion. China Ruyi Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 1.17 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 390,000,000
Price\Range: HKD 3
Transaction Features: Subsequent Direct Listing Announcement • Aug 15
China Ruyi Holdings Limited to Report First Half, 2025 Results on Aug 25, 2025 China Ruyi Holdings Limited announced that they will report first half, 2025 results on Aug 25, 2025 New Risk • Aug 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major 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. This is currently the only risk that has been identified for the company. Announcement • Aug 01
China Ruyi Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 3.9 billion. China Ruyi Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 3.9 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,300,000,000
Price\Range: HKD 3 Announcement • May 12
China Ruyi Holdings Limited, Annual General Meeting, Jun 03, 2025 China Ruyi Holdings Limited, Annual General Meeting, Jun 03, 2025, at 11:00 China Standard Time. Location: room 3701, 37/f, lee garden one, 33 hysan avenue, causeway bay, Hong Kong Announcement • Apr 05
China Ruyi Holdings Limited announced that it expects to receive $500 million in funding China Ruyi Holdings Limited announced a private placement to issue convertible bonds for gross proceeds between $300,000,000 and $500,000,000 on April 3, 2025. The company is aiming to raise the funds in next week. Reported Earnings • Apr 01
Full year 2024 earnings released: CN¥0.016 loss per share (vs CN¥0.065 profit in FY 2023) Full year 2024 results: CN¥0.016 loss per share (down from CN¥0.065 profit in FY 2023). Revenue: CN¥3.67b (up 1.2% from FY 2023). Net loss: CN¥190.5m (down 128% from profit in FY 2023). Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Announcement • Mar 20
China Ruyi Holdings Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 China Ruyi Holdings Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 New Risk • Mar 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% This is considered a major 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 Risk Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (18% net profit margin). Announcement • Jan 29
China Ruyi Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 3.875 billion. China Ruyi Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 3.875 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,635,021,096
Price\Range: HKD 2.37
Discount Per Security: HKD 0.00948
Transaction Features: Subsequent Direct Listing Announcement • Jan 14
Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited (SEHK:136) agreed to acquire 30% stake in Beijing Yonghang Technology Company Limited from Tencent Holdings Limited, Tencent Digital (Shenzhen), Tencent Mobility Limited and Tibet Yonghang Enterprise for CNY 825 million. Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited (SEHK:136) agreed to acquire 30% stake in Beijing Yonghang Technology Company Limited from Tencent Holdings Limited (SEHK:700), Tencent Digital (Shenzhen) Limited, Tencent Mobility Limited and Tibet Yonghang Enterprise Management Partnership for CNY 825 million on January 13, 2025. A cash consideration of CNY 742.5 million will be paid by Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited. The consideration consists of 36.67 million common equity of Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited to be issued for common equity of Beijing Yonghang Technology Company Limited. As part of consideration, CNY 742.5 million is paid towards common equity of Beijing Yonghang Technology Company Limited. The transaction is subject to approval of offer by acquirer shareholders, approval of offer by target shareholders and consummation of due diligence investigation. Maxa Capital Limited acted as financial advisor for China Ruyi Holdings Limited. Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Non-Executive Director Ming Yang was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.95, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Entertainment industry in Hong Kong. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.26, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Entertainment industry in Hong Kong. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.00 per share. Reported Earnings • Aug 31
First half 2024 earnings released: CN¥0.01 loss per share (vs CN¥0.026 loss in 1H 2023) First half 2024 results: CN¥0.01 loss per share (improved from CN¥0.026 loss in 1H 2023). Revenue: CN¥1.84b (up 129% from 1H 2023). Net loss: CN¥114.7m (loss narrowed 56% from 1H 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in Hong Kong. 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 15% per year, which means it is significantly lagging earnings. Announcement • Aug 20
China Ruyi Holdings Limited to Report First Half, 2024 Results on Aug 30, 2024 China Ruyi Holdings Limited announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • May 27
China Ruyi Holdings Limited, Annual General Meeting, Jun 18, 2024 China Ruyi Holdings Limited, Annual General Meeting, Jun 18, 2024, at 11:00 China Standard Time. Location: room 3701, 37/f, lee garden one, 33 hysan avenue, causeway bay, Hong Kong Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$1.97, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 11x in the Entertainment industry in Hong Kong. Total loss to shareholders of 78% over the past three years. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: CN¥0.066 (vs CN¥0.084 in FY 2022) Full year 2023 results: EPS: CN¥0.066 (down from CN¥0.084 in FY 2022). Revenue: CN¥3.63b (up 175% from FY 2022). Net income: CN¥689.8m (down 13% from FY 2022). Profit margin: 19% (down from 60% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to HK$2.11, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 10x in the Entertainment industry in Hong Kong. Total loss to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.93 per share. Announcement • Mar 19
China Ruyi Holdings Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 China Ruyi Holdings Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 Buy Or Sell Opportunity • Feb 26
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to HK$1.53. The fair value is estimated to be HK$1.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 204% in 2 years. Earnings are forecast to grow by 116% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.39, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 13x in the Entertainment industry in Hong Kong. Total loss to shareholders of 67% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.76 per share. Buy Or Sell Opportunity • Jan 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to HK$1.39. The fair value is estimated to be HK$1.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 204% in 2 years. Earnings are forecast to grow by 116% in the next 2 years. Announcement • Jan 15
China Ruyi Holdings Limited Announces Resignation of Chen Xi as Executive Director The board of directors of China Ruyi Holdings Limited announced that Ms. Chen Xi (Ms. Chen) has resigned as an executive Director with effect from 12 January 2024 due to her other business commitments. Ms. Chen has confirmed that she has no disagreement with the Board and there was no other matter that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. Reported Earnings • Sep 01
First half 2023 earnings released: CN¥0.026 loss per share (vs CN¥0.016 profit in 1H 2022) First half 2023 results: CN¥0.026 loss per share (down from CN¥0.016 profit in 1H 2022). Revenue: CN¥804.1m (up 23% from 1H 2022). Net loss: CN¥262.3m (down 278% from profit in 1H 2022). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$2.12, the stock trades at a trailing P/E ratio of 26.4x. Average forward P/E is 9x in the Entertainment industry in Hong Kong. Total loss to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$2.17, the stock trades at a trailing P/E ratio of 25.3x. Average forward P/E is 8x in the Entertainment industry in Hong Kong. Total loss to shareholders of 23% over the past three years. Board Change • Jul 05
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Zhuomin Shi was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 06
China Ruyi Holdings Limited, Annual General Meeting, Jun 28, 2023 China Ruyi Holdings Limited, Annual General Meeting, Jun 28, 2023, at 14:30 China Standard Time. Location: 15th Floor, China Evergrande Centre 38 Gloucester Road Wanchai Hong Kong Agenda: To receive and adopt the audited financial statements and the reports of the directors of the Company and of the auditors of the Company for the year ended 31 December 2022; to appoint Mr. Yang Ming as a non-executive director of the Company; to re-elect Mr. Chau Shing Yim, David as an independent non-executive director of the Company; to re-elect Professor Shi Zhuomin as an independent non-executive director of the Company; to authorise the board of directors of the Company to fix the remuneration of the directors of the Company; to re-appoint Messrs. PricewaterhouseCoopers as auditors and to authorise the Board to fix their remuneration; and to consider other matters. Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: CN¥0.084 (vs CN¥0.13 in FY 2021) Full year 2022 results: EPS: CN¥0.084 (down from CN¥0.13 in FY 2021). Revenue: CN¥1.32b (down 43% from FY 2021). Net income: CN¥789.5m (down 33% from FY 2021). Profit margin: 60% (up from 51% in FY 2021). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Feb 14
Insider recently sold HK$286m worth of stock On the 8th of February, ShaoYu Li sold around 157m shares on-market at roughly HK$1.82 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$321m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 20% share price gain to HK$1.84, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 8x in the Entertainment industry in Hong Kong. Total returns to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 19% share price gain to HK$1.50, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Total returns to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 22% share price decline to HK$1.43, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 8x in the Entertainment industry in Hong Kong. Total returns to shareholders of 21% over the past three years. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: CN¥0.016 (vs CN¥0.27 loss in 1H 2021) First half 2022 results: EPS: CN¥0.016 (up from CN¥0.27 loss in 1H 2021). Revenue: CN¥651.8m (down 53% from 1H 2021). Net income: CN¥147.4m (up CN¥2.60b from 1H 2021). Profit margin: 23% (up from net loss in 1H 2021). Revenue is forecast to grow 59% p.a. on average during the next 2 years, compared to a 27% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: CN¥0.016 (vs CN¥0.27 loss in 1H 2021) First half 2022 results: EPS: CN¥0.016 (up from CN¥0.27 loss in 1H 2021). Revenue: CN¥651.8m (down 53% from 1H 2021). Net income: CN¥147.4m (up CN¥2.60b from 1H 2021). Profit margin: 23% (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 153%, compared to a 34% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Aug 20
China Ruyi Holdings Limited Provides Unaudited Earnings Guidance for the Six Months Ended 30 June 2022 China Ruyi Holdings Limited provided unaudited earnings guidance for the six months ended 30 June 2022. For the period, the group is expected to record approximately RMB 145 million, whereas the net loss of the same period last year was approximately RMB 2.45 billion. The Group is expected to record a core earnings of approximately RMB 174 million for the first half of 2022, representing a substantial increase of approximately 57% as compared to approximately RMB 111 million for the same period of 2021. The aforementioned profits were mainly attributable to the Group's effective cost control, and the revenue contributed by the addition of the gaming business segment and the development of copyright business. Announcement • Aug 16
China Ruyi Holdings Limited to Report First Half, 2022 Results on Aug 31, 2022 China Ruyi Holdings Limited announced that they will report first half, 2022 results on Aug 31, 2022 Recent Insider Transactions • Aug 03
Insider recently sold HK$15m worth of stock On the 27th of July, ShaoYu Li sold around 7m shares on-market at roughly HK$2.31 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$1.6b more than they bought in the last 12 months. Announcement • Jul 27
China Ruyi Holdings Limited Announces Launch of the Second Game - Chuanqi Tianxia The board of directors of China Ruyi Holdings Limited announced that following the launch of The War of Three Kingdoms the Group's first game, on 26 May 2022, the Group's Jingxiu Games has launched Chuanqi Tianxia on 26 July 2022, which is the first massive multiplayer online role-playing mobile game under the Chuanqi series. Chuanqi Tianxia is endorsed by Jordan Chan Siu-Chun, a famous singer and actor, with Li Naiwen, a famous actor, Collin Chou, a famous actor, and Zhou Xiaoou, a famous singer, jointly acting as celebrity referrers. Chuanqi Tianxia is an officially licensed mobile game of the Chuanqi series developed using the Unreal Engine 4 (UE4). With four years of dedicated effort, Chuanqi Tianxia has been carefully crafted under the close collaboration within the game client development team. The game not only inherits the traditional gameplay and classic elements of the Chuanqi series, but also substantially enriches the game content and delivers cross-generation upgrades to the graphics based on the core gameplay. Benefited from the Unreal Engine 4, the leading engine in the industry, the game manages to present an exquisite ecological environment and realistic character models. Coupling with brand new skill effects and shared-screen multiplayer game experience, Chuanqi Tianxia is committed to deliver players the most enjoyable siege battle experience with its Gongsha gameplay which involves gate breaking, flag capturing and castle fighting. The game is exclusively distributed by the Group. It is also the second game officially launched by the Group after entering into in-depth cooperation with Tencent Group in the game business field. Through downloading the game via WeChat/Weixin, QQ Game Center, App Store, official website, oppo, vivo and other means, players can readily enjoy the game anytime, anywhere. Chuanqi Tianxia is the second game launched by the Group since it tapped into the gaming business. It is expected that the Group will continue to strive to secure more quality game projects in the future, and such projects are expected to launch in the next two years. The management will continue its efforts to further develop its game businesses to enrich the game business segment. Recent Insider Transactions • Jul 14
Insider recently sold HK$99k worth of stock On the 6th of July, ShaoYu Li sold around 36k shares on-market at roughly HK$2.74 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$1.6b more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 19% share price gain to HK$2.61, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 17x in the Online Retail industry in Asia. Total returns to shareholders of 40% over the past three years. Announcement • May 12
China Ruyi Holdings Limited, Annual General Meeting, Jun 13, 2022 China Ruyi Holdings Limited, Annual General Meeting, Jun 13, 2022, at 15:00 China Standard Time. Location: 23/F, China Evergrande Centre, 38 Gloucester Road Wanchai Hong Kong Agenda: To receive and adopt the audited financial statements and the reports of the directors of the Company and of the auditors of the Company for the year ended 31 December 2021; to consider the reelection of directors; to authorise the board of directors of the Company to fix the remuneration of the directors of the Company; and to consider other matters. Reported Earnings • May 02
Full year 2021 earnings released: EPS: CN¥0.13 (vs CN¥0.001 in FY 2020) Full year 2021 results: EPS: CN¥0.13 (up from CN¥0.001 in FY 2020). Revenue: CN¥2.32b (up CN¥2.09b from FY 2020). Net income: CN¥1.18b (up CN¥1.16b from FY 2020). Profit margin: 51% (up from 5.2% in FY 2020). Over the next year, revenue is forecast to grow 47%, compared to a 28% growth forecast for the retail industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: CN¥0.13 (vs CN¥0.001 in FY 2020) Full year 2021 results: EPS: CN¥0.13 (up from CN¥0.001 in FY 2020). Revenue: CN¥2.32b (up CN¥2.09b from FY 2020). Net income: CN¥1.18b (up CN¥1.16b from FY 2020). Profit margin: 51% (up from 5.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Mar 23
China Ruyi Holdings Limited to Report Fiscal Year 2021 Results on Mar 31, 2022 China Ruyi Holdings Limited announced that they will report fiscal year 2021 results on Mar 31, 2022 Recent Insider Transactions • Jan 15
Insider recently sold HK$235m worth of stock On the 12th of January, ShaoYu Li sold around 100m shares on-market at roughly HK$2.35 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$834m more than they bought in the last 12 months. Recent Insider Transactions • Jan 11
Insider recently sold HK$125m worth of stock On the 3rd of January, ShaoYu Li sold around 40m shares on-market at roughly HK$3.13 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$132m more than they bought in the last 12 months. Reported Earnings • Sep 30
First half 2021 earnings released: CN¥0.27 loss per share (vs CN¥0.001 profit in 1H 2020) The company reported a decent first half result with improved revenues, although earnings and control over costs were weaker. First half 2021 results: Revenue: CN¥1.40b (up CN¥1.28b from 1H 2020). Net loss: CN¥2.45b (down CN¥2.46b from profit in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 134 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 01
First half 2021 earnings released: CN¥0.27 loss per share (vs CN¥0.001 profit in 1H 2020) The company reported a decent first half result with improved revenues, although earnings and control over costs were weaker. First half 2021 results: Revenue: CN¥1.40b (up CN¥1.28b from 1H 2020). Net loss: CN¥2.45b (down CN¥2.46b from profit in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 150 percentage points per year, which is a significant difference in performance. Executive Departure • Aug 12
Executive Director Xiangui Huang has left the company On the 11th of August, Xiangui Huang's tenure as Executive Director ended. We don't have any record of a personal shareholding under Xiangui's name. Xiangui is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.75 years. Recent Insider Transactions • Jul 07
Executive Chairman of the Board recently bought HK$1.8m worth of stock On the 5th of July, Wen Xu bought around 300k shares on-market at roughly HK$5.85 per share. In the last 3 months, there was an even bigger purchase from another insider worth HK$3.3m. This was Wen's only on-market trade for the last 12 months. 
