Announcement • May 30
Times Neighborhood Holdings Limited Announces Management Changes, Effective May 28, 2026 Times Neighborhood Holdings Limited announced that with effect from May 28, 2026, Ms. Ng Sau Mei resigned as the company secretary. The Board also announced that Mr. Poon Kin Hei was appointed in replacement of Ms. Ng as the company secretary and authorised representative with effect from May 28, 2026. Mr. Poon is a manager of company secretarial services department of TMF Hong Kong Limited, responsible for providing company secretarial and compliance services to clients. He has over ten years of experience in the company secretarial field and possesses extensive knowledge and experience in corporate governance and compliance matters. He is an associate member of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Announcement • May 28
Times Neighborhood Holdings Limited Approves Final Ordinary Dividend for the Year Ended December 31, 2025, Payable on or Around 2 July 2026 Times Neighborhood Holdings Limited at its AGM held on May 28, 2026, approved final ordinary dividend of 4.8 Renminbi cents per share for the year ended December 31, 2025. The final dividend is expected to be paid on or around 2 July 2026 to those Shareholders whose names appeared on the register of members of the Company on 10 June 2026. Upcoming Dividend • May 26
Upcoming dividend of CN¥0.048 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 02 July 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.6%. Within top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (4.0%). Declared Dividend • Apr 01
Dividend of CN¥0.048 announced Shareholders will receive a dividend of CN¥0.048. Ex-date: 2nd June 2026 Payment date: 2nd July 2026 Dividend yield will be 8.6%, which is higher than the industry average of 6.6%. Sustainability & Growth The dividend has increased by an average of 1.5% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 41% to bring the payout ratio under control. However, EPS has declined by 41% over the last 5 years so the company would need to reverse this trend. Announcement • Mar 31
Times Neighborhood Holdings Limited, Annual General Meeting, May 28, 2026 Times Neighborhood Holdings Limited, Annual General Meeting, May 28, 2026. Announcement • Mar 18
Times Neighborhood Holdings Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Times Neighborhood Holdings Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Reported Earnings • Sep 02
First half 2025 earnings released: EPS: CN¥0.065 (vs CN¥0.041 in 1H 2024) First half 2025 results: EPS: CN¥0.065 (up from CN¥0.041 in 1H 2024). Revenue: CN¥1.22b (up 5.6% from 1H 2024). Net income: CN¥63.8m (up 57% from 1H 2024). Profit margin: 5.2% (up from 3.5% in 1H 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 12% per year, which means it is significantly lagging earnings. Announcement • Aug 18
Times Neighborhood Holdings Limited to Report First Half, 2025 Results on Aug 28, 2025 Times Neighborhood Holdings Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 29
Times Neighborhood Holdings Limited Approves Final Dividend for the Year Ended 31 December 2024, Payable on or Around 23 June 2025 Times Neighborhood Holdings Limited at its annual general meeting held on May 29, 2025, approved a final dividend of 3.6 RMB cents per Share for the year ended 31 December 2024. The final dividend is expected to be paid on or around 23 June 2025 to those Shareholders whose names appeared on the register of members of the Company on 10 June 2025. The final dividend declared to the Shareholders will be converted to HKD at the central parity rate of HKD against RMB announced by the People's Bank of China on 29 May 2025 (HKD 1.00: RMB 0.91762) that is the payable final dividend being HKD 3.9 cents per Share. Upcoming Dividend • May 26
Upcoming dividend of CN¥0.036 per share Eligible shareholders must have bought the stock before 02 June 2025. Payment date: 23 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: 7.6%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (5.3%). Reported Earnings • Apr 29
Full year 2024 earnings released: EPS: CN¥0.005 (vs CN¥0.20 loss in FY 2023) Full year 2024 results: EPS: CN¥0.005 (up from CN¥0.20 loss in FY 2023). Revenue: CN¥2.39b (down 3.3% from FY 2023). Net income: CN¥4.70m (up CN¥206.5m from FY 2023). Profit margin: 0.2% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year and the company’s share price has also fallen by 38% per year. Declared Dividend • Mar 31
Dividend of CN¥0.036 announced Shareholders will receive a dividend of CN¥0.036. Ex-date: 2nd June 2025 Payment date: 23rd June 2025 Dividend yield will be 7.1%, which is higher than the industry average of 6.6%. Sustainability & Growth The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 68% to shift the payout ratio to a potentially unsustainable range, which is more than the 48% EPS decline seen over the last 5 years. New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 93% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (HK$442.0m market cap, or US$56.8m). Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: CN¥0.005 (vs CN¥0.20 loss in FY 2023) Full year 2024 results: EPS: CN¥0.005 (up from CN¥0.20 loss in FY 2023). Revenue: CN¥2.39b (down 3.3% from FY 2023). Net income: CN¥4.70m (up CN¥206.5m from FY 2023). Profit margin: 0.2% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year whereas the company’s share price has fallen by 42% per year. Announcement • Mar 14
Times Neighborhood Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Times Neighborhood Holdings Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 28, 2025 Announcement • Jan 06
Times Neighborhood Holdings Limited Announces Resignation of Kwok Pak Shing as Chief Financial Officer The board of directors of Times Neighborhood Holdings Limited announced that Mr. Kwok Pak Shing has tendered his resignation of the chief financial officer of the Company with effect from 5 January 2025. Mr. Kwok has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation which needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board further announces that Ms. Wang Meng ("Ms. Wang"), the Executive Director and the Chief Executive Officer of the Group, is responsible for the capital market functions of the Group with effect from 6 January 2025. Recent Insider Transactions • Oct 03
Deputy Chairman of the Board recently bought HK$267k worth of stock On the 27th of September, Xihong Bai bought around 500k shares on-market at roughly HK$0.53 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Xihong's only on-market trade for the last 12 months. Reported Earnings • Sep 28
First half 2024 earnings released: EPS: CN¥0.041 (vs CN¥0.25 loss in 1H 2023) First half 2024 results: EPS: CN¥0.041 (up from CN¥0.25 loss in 1H 2023). Revenue: CN¥1.15b (down 5.8% from 1H 2023). Net income: CN¥40.7m (up CN¥284.4m from 1H 2023). Profit margin: 3.5% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Announcement • Aug 15
Times Neighborhood Holdings Limited to Report First Half, 2024 Results on Aug 27, 2024 Times Neighborhood Holdings Limited announced that they will report first half, 2024 results on Aug 27, 2024 Upcoming Dividend • May 28
Upcoming dividend of CN¥0.024 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 10 July 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (5.4%). Reported Earnings • Apr 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: CN¥0.20 loss per share (improved from CN¥0.22 loss in FY 2022). Revenue: CN¥2.47b (down 5.2% from FY 2022). Net loss: CN¥201.8m (loss narrowed 5.6% from FY 2022). Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Real Estate 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 45 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 28
Dividend of CN¥0.024 announced Shareholders will receive a dividend of CN¥0.024. Ex-date: 4th June 2024 Payment date: 10th July 2024 Dividend yield will be 4.9%, which is lower than the industry average of 6.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (12% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Announcement • Mar 27
Times Neighborhood Holdings Limited, Annual General Meeting, May 30, 2024 Times Neighborhood Holdings Limited, Annual General Meeting, May 30, 2024. Reported Earnings • Mar 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: CN¥0.21 loss per share (improved from CN¥0.22 loss in FY 2022). Revenue: CN¥2.47b (down 5.2% from FY 2022). Net loss: CN¥201.8m (loss narrowed 5.6% from FY 2022). Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Real Estate 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 44 percentage points per year, which is a significant difference in performance. Announcement • Mar 26
Times Neighborhood Holdings Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on July 10, 2024 Times Neighborhood Holdings Limited proposed final dividend of RMB 0.024 per share for the year ended December 31, 2023. The date of shareholders approval is May 30, 2024. Ex-dividend date is June 04, 2024. Record date is June 11, 2024. Payment date is July 10, 2024. Announcement • Mar 15
Times Neighborhood Holdings Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 Times Neighborhood Holdings Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Reported Earnings • Aug 31
First half 2023 earnings released: CN¥0.25 loss per share (vs CN¥0.032 profit in 1H 2022) First half 2023 results: CN¥0.25 loss per share (down from CN¥0.032 profit in 1H 2022). Revenue: CN¥1.22b (down 6.9% from 1H 2022). Net loss: CN¥243.6m (down CN¥274.9m from profit in 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. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 22 percentage points per year, which is a significant difference in performance. New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings have declined by 33% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 33% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$618.9m market cap, or US$78.9m). Announcement • Aug 24
Times Neighborhood Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 Times Neighborhood Holdings Limited provided earnings guidance for the six months ended 30 June 2023. For the period, it is expected that the Company will record an unaudited loss attributable to the owners of the Company for the Reporting Period ranging from RMB 200 million to RMB 300 million, as compared to the unaudited profit attributable to the owners of the Company of RMB 31.2 million for the corresponding period in 2022. The expected loss is mainly due to the impairment provided by the Group on certain goodwill during the Reporting Period, taking into account the macroeconomic and real estate industry condition in China. Announcement • Aug 18
Times Neighborhood Holdings Limited to Report First Half, 2023 Results on Aug 29, 2023 Times Neighborhood Holdings Limited announced that they will report first half, 2023 results on Aug 29, 2023 Announcement • May 31
Times Neighborhood Holdings Limited Approves Final Dividend for the Year Ended 31 December 2022, Payable on or Around 10 July 2023 Times Neighborhood Holdings Limited approved the proposed declaration for the payment of a final dividend of RMB 0.022 cents per Share for the year ended 31 December 2022. The final dividend is expected to be paid on or around 10 July 2023 to those Shareholders whose names appeared on the register of members of the Company on 8 June 2023. Upcoming Dividend • May 26
Upcoming dividend of CN¥0.022 per share at 4.6% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 10 July 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.6%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (5.4%). Reported Earnings • Mar 30
Full year 2022 earnings released: CN¥0.22 loss per share (vs CN¥0.31 profit in FY 2021) Full year 2022 results: CN¥0.22 loss per share (down from CN¥0.31 profit in FY 2021). Revenue: CN¥2.61b (down 4.2% from FY 2021). Net loss: CN¥213.6m (down 169% from profit in FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 51% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 28% share price gain to HK$1.23, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total loss to shareholders of 74% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 68% share price gain to HK$1.09, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 66% over the past year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Xiaoping Chu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Oct 28
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 64%. The fair value is estimated to be HK$0.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 30% in 2 years. Earnings is forecast to grow by 73% in the next 2 years. Reported Earnings • Aug 31
First half 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.16 in 1H 2021) First half 2022 results: EPS: CN¥0.03 (down from CN¥0.16 in 1H 2021). Revenue: CN¥1.31b (up 13% from 1H 2021). Net income: CN¥31.2m (down 80% from 1H 2021). Profit margin: 2.4% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 22%, compared to a 12% growth forecast for the Real Estate industry in Hong Kong. Major Estimate Revision • Aug 23
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥3.52b to CN¥3.38b. EPS estimate also fell from CN¥0.40 per share to CN¥0.32 per share. Net income forecast to shrink 9.3% next year vs 10% growth forecast for Real Estate industry in Hong Kong . Consensus price target down from HK$3.84 to HK$3.46. Share price fell 12% to HK$0.90 over the past week. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment deteriorated over the past week After last week's 20% share price decline to HK$1.03, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 79% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.75 per share. Buying Opportunity • Jul 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 39%. The fair value is estimated to be HK$1.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 47%. For the next 3 years, revenue is forecast to grow by 22% per annum. Earnings is also forecast to grow by 21% per annum over the same time period. Recent Insider Transactions • Jun 21
Chairman of the Board recently bought HK$68k worth of stock On the 17th of June, Xihong Bai bought around 44k shares on-market at roughly HK$1.55 per share. In the last 3 months, they made an even bigger purchase worth HK$581k. Xihong has been a buyer over the last 12 months, purchasing a net total of HK$949k worth in shares. Recent Insider Transactions • Jun 03
Chairman of the Board recently bought HK$581k worth of stock On the 31st of May, Xihong Bai bought around 323k shares on-market at roughly HK$1.80 per share. This was the largest purchase by an insider in the last 3 months. Xihong has been a buyer over the last 12 months, purchasing a net total of HK$881k worth in shares. Upcoming Dividend • May 26
Upcoming dividend of CN¥0.047 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (5.7%). Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.83, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 65% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.59 per share. Reported Earnings • May 02
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.31 (up from CN¥0.25 in FY 2020). Revenue: CN¥2.72b (up 55% from FY 2020). Net income: CN¥308.0m (up 32% from FY 2020). Profit margin: 11% (down from 13% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 30%, compared to a 16% growth forecast for the industry in Hong Kong. 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). CEO & Executive Director Meng Wang is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Xiaoping Chu was the last independent director to join the board, commencing their role in 2019. 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. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.94, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 66% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.67 per share. Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥3.84b to CN¥3.53b. EPS estimate also fell from CN¥0.54 per share to CN¥0.48 per share. Net income forecast to grow 55% next year vs 28% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$5.01 to HK$4.43. Share price was steady at HK$2.34 over the past week. Reported Earnings • Apr 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.31 (up from CN¥0.25 in FY 2020). Revenue: CN¥2.72b (up 55% from FY 2020). Net income: CN¥308.0m (up 32% from FY 2020). Profit margin: 11% (down from 13% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 41%, compared to a 14% growth forecast for the industry in Hong Kong. Announcement • Apr 01
Times Neighborhood Holdings Limited Proposes Final Ordinary Dividend for the Year Ended December 31, 2021 Payable on 08 July 2022 Times Neighborhood Holdings Limited proposed final ordinary dividend of RMB 0.047 per share for the year ended December 31, 2021 payable on 08 July 2022. Record date is 09 June 2022. Ex-dividend date is 03 June 2022. Date of shareholders' approval is 30 May 2022. Announcement • Mar 23
Times Neighborhood Holdings Limited to Report Fiscal Year 2021 Results on Mar 31, 2022 Times Neighborhood Holdings Limited announced that they will report fiscal year 2021 results on Mar 31, 2022 Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$2.16, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 64% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$3.03 per share. Buying Opportunity • Mar 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be CN¥3.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 67% over the last year. Earnings per share has grown by 86% over the last year. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$2.68, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 59% over the past year. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 19% share price gain to HK$3.24, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 61% over the past year. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to HK$2.98, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 58% over the past year. Reported Earnings • Aug 12
First half 2021 earnings released: EPS CN¥0.16 (vs CN¥0.093 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.16b (up 66% from 1H 2020). Net income: CN¥153.1m (up 82% from 1H 2020). Profit margin: 13% (up from 12% in 1H 2020). The increase in margin was driven by higher revenue. Executive Departure • Aug 04
Company Secretary Suet Wing Leung has left the company On the 30th of July, Suet Wing Leung's tenure as Company Secretary ended after 1.9 years in the role. We don't have any record of a personal shareholding under Suet Wing's name. A total of 2 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥4.73, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Commercial Services industry in Hong Kong. Total loss to shareholders of 60% over the past year. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥6.33, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Hong Kong. Total loss to shareholders of 29% over the past year. Announcement • May 21
Times Neighborhood Holdings Limited Declares Final Dividend for the Year Ended 31 December 2020 Times Neighborhood Holdings Limited declared a final dividend of 7.1 RMB cents per Share for the year ended 31 December 2020 at its AGM held on 20 May 2021. Upcoming Dividend • May 17
Upcoming dividend of CN¥0.071 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 02 July 2021. Trailing yield: 1.6%. Lower than top quartile of Hong Kong dividend payers (6.0%). In line with average of industry peers (1.5%). Reported Earnings • Apr 18
Full year 2020 earnings released: EPS CN¥0.25 (vs CN¥0.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.76b (up 63% from FY 2019). Net income: CN¥232.6m (up 142% from FY 2019). Profit margin: 13% (up from 8.9% in FY 2019). The increase in margin was driven by higher revenue. Recent Insider Transactions • Mar 13
Independent Non- Executive Director recently bought HK$599k worth of stock On the 11th of March, Jiangtian Huang bought around 100k shares on-market at roughly HK$5.98 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$14m more in shares than they have sold in the last 12 months. Announcement • Mar 12
Times Neighborhood Holdings Limited Recommends Final Dividend for the Year Ended December 31, 2020, Payable on or Around July 2, 2021 Times Neighborhood Holdings Limited recommended final dividend RMB 7.1 cent per ordinary share for the year ended December 31, 2020. The final dividend is subject to the approval of the Shareholders at the AGM, and is expected to be paid on or around 2 July 2021. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS CN¥0.25 (vs CN¥0.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.76b (up 63% from FY 2019). Net income: CN¥232.6m (up 142% from FY 2019). Profit margin: 13% (up from 8.9% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Mar 11
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 5.7%. Over the next year, revenue is forecast to grow 68%, compared to a 43% growth forecast for the Commercial Services industry in Hong Kong. Announcement • Mar 11
Times Neighborhood Holdings Limited, Annual General Meeting, May 20, 2021 Times Neighborhood Holdings Limited, Annual General Meeting, May 20, 2021. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥5.65, the stock is trading at a trailing P/E ratio of 28.5x, down from the previous P/E ratio of 34.6x. This compares to an average P/E of 10x in the Commercial Services industry in Hong Kong. Total return to shareholders over the past year is a loss of 16%. Is New 90 Day High Low • Feb 19
New 90-day low: HK$6.69 The company is down 14% from its price of HK$7.76 on 20 November 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$14.35 per share. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥8.64, the stock is trading at a trailing P/E ratio of 43.5x, up from the previous P/E ratio of 35.9x. This compares to an average P/E of 10x in the Commercial Services industry in Hong Kong. Total returns to shareholders over the past year are 54%. Is New 90 Day High Low • Jan 20
New 90-day high: HK$8.64 The company is up 3.0% from its price of HK$8.36 on 22 October 2020. The Hong Kong market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$24.90 per share. 