Reported Earnings • Mar 30
Full year 2025 earnings released: EPS: CN¥0.03 (vs CN¥0.029 in FY 2024) Full year 2025 results: EPS: CN¥0.03 (up from CN¥0.029 in FY 2024). Revenue: CN¥1.19b (down 1.7% from FY 2024). Net income: CN¥57.9m (up 1.7% from FY 2024). Profit margin: 4.9% (up from 4.7% in FY 2024). The increase in margin was driven by lower 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 44% per year, which means it has not declined as severely as earnings. Announcement • Mar 27
SCE Intelligent Commercial Management Holdings Limited, Annual General Meeting, May 28, 2026 SCE Intelligent Commercial Management Holdings Limited, Annual General Meeting, May 28, 2026. Announcement • Mar 16
SCE Intelligent Commercial Management Holdings Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 SCE Intelligent Commercial Management Holdings Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 New Risk • Jan 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 9.9% 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 19% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (HK$619.2m market cap, or US$79.3m). Reported Earnings • Aug 31
First half 2025 earnings released: EPS: CN¥0.018 (vs CN¥0.042 in 1H 2024) First half 2025 results: EPS: CN¥0.018 (down from CN¥0.042 in 1H 2024). Revenue: CN¥588.3m (down 5.5% from 1H 2024). Net income: CN¥34.1m (down 58% from 1H 2024). Profit margin: 5.8% (down from 13% in 1H 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year whereas the company’s share price has fallen by 45% per year. Announcement • Aug 15
SCE Intelligent Commercial Management Holdings Limited to Report First Half, 2025 Results on Aug 28, 2025 SCE Intelligent Commercial Management Holdings Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jun 23
SCE Intelligent Commercial Management Holdings Limited Nomination Committee Changes, Effective 23 June 2025 The board of directors of SCE Intelligent Commercial Management Holdings Limited announced the following changes in the composition of the nomination committee of the Company, with effect from 23 June 2025: (i) Mr. Wong Lun, an executive Director and the chairman of the Board has ceased to be a member and the chairman of the Nomination Committee; (ii) Ms. Ku Weihong, an executive Director, has been appointed as a member of the Nomination Committee; and (iii) Mr. Wang Yongping, an independent non-executive Director has been redesignated from a member to the chairman of the Nomination Committee. Following the above changes, the Nomination Committee comprises two independent non- executive Directors (namely Mr. Wang Yongping, the chairman of the Nomination Committee, and Mr. Ding Zuyu) and one executive Director (namely Ms. Ku Weihong), and has one director of a different gender with effect from 23 June 2025. The above changes were made in response to the amendments to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited and the Corporate Governance Code as set out in Appendix C1 to the Listing Rules, which will come into effect on 1 July 2025. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: CN¥0.029 (vs CN¥0.13 in FY 2023) Full year 2024 results: EPS: CN¥0.029 (down from CN¥0.13 in FY 2023). Revenue: CN¥1.21b (down 2.8% from FY 2023). Net income: CN¥57.0m (down 78% from FY 2023). Profit margin: 4.7% (down from 21% in FY 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Announcement • Mar 29
SCE Intelligent Commercial Management Holdings Limited, Annual General Meeting, May 30, 2025 SCE Intelligent Commercial Management Holdings Limited, Annual General Meeting, May 30, 2025. Announcement • Mar 14
SCE Intelligent Commercial Management Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 SCE Intelligent Commercial Management Holdings Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Reported Earnings • Sep 30
First half 2024 earnings released: EPS: CN¥0.042 (vs CN¥0.068 in 1H 2023) First half 2024 results: EPS: CN¥0.042 (down from CN¥0.068 in 1H 2023). Revenue: CN¥622.5m (flat on 1H 2023). Net income: CN¥80.4m (down 42% from 1H 2023). Profit margin: 13% (down from 22% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 59% per year, which means it is performing significantly worse than earnings. Announcement • Aug 29
SCE Intelligent Commercial Management Holdings Limited Announces Board Changes The board of directors of SCE Intelligent Commercial Management Holdings Limited announced that Mr. Huang Youquan (Mr. Huang) has tendered his resignation as a non-executive Director and a member of the audit committee of the Company (the Audit Committee) with effect from 29 August 2024 in order to devote more time to his other business commitments. Mr. Huang has confirmed that he does not have any disagreements with the Board and there are no other matters relating to his resignation that need to be brought to the attention of The Stock Exchange of Hong Kong Limited or the shareholders of the Company. Following the resignation of Mr. Huang, Mr. Huang has ceased to be a member of the Audit Committee. Mr. Ding Zuyu, an existing independent non-executive Director, has been appointed as a member of the Audit Committee with effect from 29 August 2024. The Audit Committee will be composed of Mr. Pang Hon Chung, Mr. Wang Yongping and Mr. Ding Zuyu effective from 29 August 2024. Announcement • Mar 28
SCE Intelligent Commercial Management Holdings Limited, Annual General Meeting, May 31, 2024 SCE Intelligent Commercial Management Holdings Limited, Annual General Meeting, May 31, 2024. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.13 (vs CN¥0.10 in FY 2022) Full year 2023 results: EPS: CN¥0.13 (up from CN¥0.10 in FY 2022). Revenue: CN¥1.25b (up 5.5% from FY 2022). Net income: CN¥257.0m (up 24% from FY 2022). Profit margin: 21% (up from 18% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Real Estate industry in Hong Kong. New Risk • Mar 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$754.7m (US$96.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Mar 16
SCE Intelligent Commercial Management Holdings Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 SCE Intelligent Commercial Management Holdings Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 New Risk • Jan 17
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 9.8% 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. Buying Opportunity • Jan 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 52%. The fair value is estimated to be HK$0.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last year. Earnings per share has declined by 19%. Major Estimate Revision • Sep 06
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥1.38b to CN¥1.28b. EPS estimate also fell from CN¥0.14 per share to CN¥0.117 per share. Net income forecast to grow 22% next year vs 27% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$1.65 to HK$1.35. Share price rose 9.3% to HK$1.18 over the past week. Reported Earnings • Aug 31
First half 2023 earnings released: EPS: CN¥0.068 (vs CN¥0.065 in 1H 2022) First half 2023 results: EPS: CN¥0.068 (up from CN¥0.065 in 1H 2022). Revenue: CN¥620.3m (up 2.6% from 1H 2022). Net income: CN¥137.8m (up 2.7% from 1H 2022). Profit margin: 22% (in line with 1H 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Hong Kong. Announcement • Aug 18
SCE Intelligent Commercial Management Holdings Limited to Report First Half, 2023 Results on Aug 29, 2023 SCE Intelligent Commercial Management Holdings Limited announced that they will report first half, 2023 results on Aug 29, 2023 Major Estimate Revision • May 09
Consensus revenue estimates increase by 18%, EPS downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from CN¥1.16b to CN¥1.36b. EPS estimate fell from CN¥0.14 to CN¥0.138. Net income forecast to grow 16% next year vs 26% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$1.92 to HK$1.79. Share price fell 4.9% to HK$1.56 over the past week. Major Estimate Revision • Apr 06
Consensus revenue estimates fall by 23% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥1.49b to CN¥1.16b. EPS estimate fell from CN¥0.166 to CN¥0.14 per share. Net income forecast to grow 73% next year vs 22% growth forecast for Real Estate industry in Hong Kong. Consensus price target broadly unchanged at HK$1.93. Share price fell 2.3% to HK$1.70 over the past week. Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.10 (down from CN¥0.16 in FY 2021). Revenue: CN¥1.18b (down 3.9% from FY 2021). Net income: CN¥208.1m (down 26% from FY 2021). Profit margin: 18% (down from 23% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Real Estate industry in Hong Kong. Buying Opportunity • Jan 30
Now 24% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be HK$2.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last year. Earnings per share has declined by 16%. Revenue is forecast to grow by 9.2% in a year. Earnings is forecast to grow by 21% in the next year. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (6 non-independent directors). Chairman of the Board Lun Wong is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Hon Chung Pang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Major Estimate Revision • Sep 08
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥1.52b to CN¥1.37b. EPS estimate also fell from CN¥0.17 per share to CN¥0.14 per share. Net income forecast to grow 21% next year vs 33% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$1.91 to HK$1.76. Share price was steady at HK$1.76 over the past week. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: CN¥0.065 (vs CN¥0.10 in 1H 2021) First half 2022 results: EPS: CN¥0.065 (down from CN¥0.10 in 1H 2021). Revenue: CN¥604.6m (up 4.4% from 1H 2021). Net income: CN¥134.2m (down 11% from 1H 2021). Profit margin: 22% (down from 26% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 33%, compared to a 12% growth forecast for the Real Estate industry in Hong Kong. Announcement • Aug 19
SCE Intelligent Commercial Management Holdings Limited to Report First Half, 2022 Results on Aug 30, 2022 SCE Intelligent Commercial Management Holdings Limited announced that they will report first half, 2022 results on Aug 30, 2022 Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improved over the past week After last week's 17% share price gain to HK$1.87, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 4x in the Real Estate industry in Hong Kong. Total loss to shareholders of 53% over the past year. Major Estimate Revision • Jun 29
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥1.71b to CN¥1.60b. EPS estimate also fell from CN¥0.20 per share to CN¥0.18 per share. Net income forecast to grow 35% next year vs 17% growth forecast for Real Estate industry in Hong Kong. Consensus price target of HK$2.39 unchanged from last update. Share price fell 2.9% to HK$1.67 over the past week. Board Change • Apr 27
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Chairman of the Board Lun Wong is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Hon Chung Pang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 03
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.16 (up from CN¥0.078 in FY 2020). Revenue: CN¥1.23b (up 53% from FY 2020). Net income: CN¥280.6m (up 80% from FY 2020). Profit margin: 23% (up from 19% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 31%, compared to a 15% growth forecast for the industry in Hong Kong. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$2.27, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. 
