Announcement • May 09
China Shengmu Organic Milk Limited, Annual General Meeting, Jun 12, 2026 China Shengmu Organic Milk Limited, Annual General Meeting, Jun 12, 2026, at 10:00 China Standard Time. Location: conference room, 2/f, shengmu building, shaerqin industrial park, southern district of ruyi development new zone, tumotezuoqi, hohhot, China Reported Earnings • Mar 26
Full year 2025 earnings released: CN¥0.045 loss per share (vs CN¥0.008 loss in FY 2024) Full year 2025 results: CN¥0.045 loss per share (further deteriorated from CN¥0.008 loss in FY 2024). Revenue: CN¥3.01b (down 3.6% from FY 2024). Net loss: CN¥373.4m (loss widened 470% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance. Announcement • Mar 05
China Shengmu Organic Milk Limited to Report Fiscal Year 2025 Results on Mar 25, 2026 China Shengmu Organic Milk Limited announced that they will report fiscal year 2025 results on Mar 25, 2026 Announcement • Oct 31
China Modern Dairy Holdings Ltd. (SEHK:1117) proposed to acquire an additional 68.74% stake in China Shengmu Organic Milk Limited (SEHK:1432) for HKD 2 billion. China Modern Dairy Holdings Ltd. (SEHK:1117) proposed to acquire an additional 68.74% stake in China Shengmu Organic Milk Limited (SEHK:1432) for HKD 2 billion on October 30, 2025. A cash consideration valued at HKD 0.35 per share will be paid by China Modern Dairy Holdings Ltd. As part of acquisition, 5,760.916674 shares will be acquired. China Modern Dairy Holdings entered into share purchase agreements with SMbeidou, SMhateng and SMwuxing to acquire 1.28% stake in China Shengmu Organic Milk. After completion of share purchase agreements, China Modern Dairy Holdings along with China Mengniu Dairy Company holds 31.26% stake in China Shengmu Organic Milk. Offer is made for remaining stake. Offer document setting out, among others, (i) further details of the Offer; and (ii) the relevant form(s) of acceptance and transfer, will be despatched to the CSM Shareholders no later than twenty-one (21) days after the date of this announcement or such later date as the Executive may approve.
The Offer will be conditional only upon valid acceptances of the Offer being received on the Closing Date in respect of such number of Offer Shares which, together with the CSM Shares already acquired or held by CMD and the parties acting in concert with it after the SPA Completion and before the Offer, would result in CMD and the parties acting in concert with it holding more than 50% of the voting rights of CSM as at the Closing Date. If the condition cannot be satisfied by the Closing Date, the Offer will lapse.
CITIC Securities Corporate Finance Limited acted as financial advisor for China Modern Dairy Holdings Ltd. Somerley Capital Limited acted as financial advisor for Independent Board Committee of China Modern Dairy Holdings Ltd. Announcement • Oct 03
China Shengmu Organic Milk Limited Announces Board and Committee Changes, Effective 6 October 2025 The board of directors of China Shengmu Organic Milk Limited announced the following changes in composition of the Board and committees of the Board. Mr. Zhao Jiejun ("Mr. Zhao") has tendered his resignation as a non-executive Director and a member of the strategic and sustainability committee of the Board due to personal health reason, with effect from 6 October 2025. Following Mr. Zhao's resignation, Mr. Bai Fengming ("Mr. Bai") has been appointed as a non-executive Director and a member of the Strategic and Sustainability Committee with effect from 6 October 2025. Mr. Bai, 48 years old, holds a postgraduate degree. He graduated from the School of Business Administration, Sun Yat-sen University, majoring in business administration. Currently, he serves as general manager of the sales management center under the room-temperature products business unit of China Mengniu Dairy Company Limited. Since joining the Mengniu Group in 2000, Mr. Bai has been deeply engaged in the dairy sales field for 25 years. Starting his career as a city manager at the marketing center of the Mengniu Group, he has held successive positions including national project manager for aseptic pillow packaging (a type of packaging for dairy products), manager of hohhot branch, manager of the room-temperature products south China region, manager of Guangzhou subsidiary, and manager of Shenzhen subsidiary. Mr. Bai possesses profound professional capabilities and practical experience in dairy sales management. In each position he has held, he has consistently led his team to achieve sustained profitability and continuous performance growth, demonstrating outstanding profit-making ability and a steady business strategy. His innovative sales models have successfully driven the continuous increase of market share of the Mengniu Group, reflecting his unique insights into marketing model innovation and excellent execution capabilities. The Company will enter into a letter of appointment with Mr. Bai for his appointment as a non-executive Director for a term of three years commencing from 6 October 2025, subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the articles of association of the Company and the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). As a result of the resignation and appointment of Directors as disclosed above, the composition of the Strategic and Sustainability Committee will be changed as follows: Mr. Bai has been appointed as a member of the Strategic and Sustainability Committee with effect from 6 October 2025. Reported Earnings • Sep 28
First half 2025 earnings released: CN¥0.006 loss per share (vs CN¥0.018 loss in 1H 2024) First half 2025 results: CN¥0.006 loss per share (improved from CN¥0.018 loss in 1H 2024). Revenue: CN¥1.44b (down 3.1% from 1H 2024). Net loss: CN¥48.3m (loss narrowed 66% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 29
First half 2025 earnings released: CN¥0.006 loss per share (vs CN¥0.018 loss in 1H 2024) First half 2025 results: CN¥0.006 loss per share (improved from CN¥0.018 loss in 1H 2024). Revenue: CN¥1.44b (down 3.1% from 1H 2024). Net loss: CN¥48.3m (loss narrowed 66% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Announcement • Aug 12
China Shengmu Organic Milk Limited to Report First Half, 2025 Results on Aug 27, 2025 China Shengmu Organic Milk Limited announced that they will report first half, 2025 results on Aug 27, 2025 New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Reported Earnings • Apr 25
Full year 2024 earnings released: CN¥0.008 loss per share (vs CN¥0.01 profit in FY 2023) Full year 2024 results: CN¥0.008 loss per share (down from CN¥0.01 profit in FY 2023). Revenue: CN¥3.13b (down 7.6% from FY 2023). Net loss: CN¥65.5m (down 176% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Apr 23
China Shengmu Organic Milk Limited, Annual General Meeting, Jun 13, 2025 China Shengmu Organic Milk Limited, Annual General Meeting, Jun 13, 2025, at 10:00 China Standard Time. Location: conference room, 2/f, shengmu building, shaerqin industrial park, southern district of ruyi development new zone, tumotezuoqi, hohhot, inner mongolia autonomous region, China Reported Earnings • Mar 27
Full year 2024 earnings released: CN¥0.008 loss per share (vs CN¥0.01 profit in FY 2023) Full year 2024 results: CN¥0.008 loss per share (down from CN¥0.01 profit in FY 2023). Revenue: CN¥3.13b (down 7.6% from FY 2023). Net loss: CN¥65.5m (down 176% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Feb 14
China Shengmu Organic Milk Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 China Shengmu Organic Milk Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 Reported Earnings • Sep 30
First half 2024 earnings released: CN¥0.018 loss per share (vs CN¥0.003 profit in 1H 2023) First half 2024 results: CN¥0.018 loss per share (down from CN¥0.003 profit in 1H 2023). Revenue: CN¥1.49b (down 4.7% from 1H 2023). Net loss: CN¥143.7m (down CN¥167.0m from profit in 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
First half 2024 earnings released: CN¥0.018 loss per share (vs CN¥0.003 profit in 1H 2023) First half 2024 results: CN¥0.018 loss per share (down from CN¥0.003 profit in 1H 2023). Revenue: CN¥1.49b (down 4.7% from 1H 2023). Net loss: CN¥143.7m (down CN¥167.0m from profit in 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 31 percentage points per year, which is a significant difference in performance. New Risk • Aug 29
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 51% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Announcement • Aug 12
China Shengmu Organic Milk Limited to Report Q2, 2024 Results on Aug 28, 2024 China Shengmu Organic Milk Limited announced that they will report Q2, 2024 results on Aug 28, 2024 Announcement • May 29
China Shengmu Organic Milk Limited Announces Change of Directors and Composition of the Board committees The board of directors of China Shengmu Organic Milk Limited hereby announced that Mr. Lu Mingfang (Mr. Lu) has tendered his resignation as a non-executive director of the Company, chairman of the Board, and chairman of the nomination committee of the Board and the strategy and sustainability committee of the Board with effect from 28 May 2024 due to adjustments of work arrangements. Mr. Lu has confirmed that he has no disagreement with the Board and there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company (Shareholders) or The Stock Exchange of Hong Kong Limited. The Board further announced that Mr. Chen Yiyi (Mr. Chen) has been appointed as a non-executive director of the Company, the chairman of the Board, and chairman of the Nomination Committee and the Strategy and Sustainability Committee with effect from 28 May 2024. The biographical details of Mr. Chen are set out as follows: Mr. CHEN Yiyi, aged 49, is currently a vice president and head of strategic management of China Mengniu Dairy Company Limited (Mengniu Group) and is responsible for its strategic and investment management. Mr. Chen is also the non-executive director of China Modern Dairy Holdings Ltd., a company whose shares are listed on the Stock Exchange (stock code: 1117), and a non-independent director and the chairman of the board of directors of Shanghai Milkground Food Tech Co. Ltd., a company whose shares are listed on the Shanghai Stock Exchange (stock code: 600882). Before joining Mengniu Group, Mr. Chen was the executive director and president of Royal Group Co. Ltd. (a company listed on the Shenzhen Stock Exchange with stock code: 002329) from January 2017 to December 2021. Mr. Chen has had 25 years of experience working for multiple well-known multinational corporations such as Nestle SA, International Paper Co, Tetra Pak Sidel, China Resources Enterpris, as well as listed companies in Hong Kong and Mainland China, and held leadership roles such as national commercial manager, North Asia regional director, vice chief strategy officer, president and executive director and other senior management positions. Mr. Chen's extensive tenure in the fast-moving consumer goods industries of dairy and retail has endowed him with a wealth of expertise in industrial operation integration, strategic planning management, corporate cooperation and mergers and acquisitions, as well as a broad industry perspective and international business experience. Mr. Chen graduated from Fudan University with a bachelor's degree in law. The Company has entered into a service contract with Mr. Chen. Subject to the terms of the service contract, the term is three years commencing from 28 May 2024. Mr. Chen's appointment as a non-executive Director will be subject to retirement by rotation and re-election at the general meeting of the Shareholders in accordance with the articles of association of the Company. Declared Dividend • Apr 01
Dividend reduced to HK$0.0023 Dividend of HK$0.0023 is 80% lower than last year. Ex-date: 18th June 2024 Payment date: 5th July 2024 Dividend yield will be 1.2%, which is lower than the industry average of 5.7%. Announcement • Mar 27
China Shengmu Organic Milk Limited, Annual General Meeting, Jun 14, 2024 China Shengmu Organic Milk Limited, Annual General Meeting, Jun 14, 2024. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: CN¥0.01 (vs CN¥0.05 in FY 2022) Full year 2023 results: EPS: CN¥0.01 (down from CN¥0.05 in FY 2022). Revenue: CN¥3.38b (up 6.5% from FY 2022). Net income: CN¥86.1m (down 79% from FY 2022). Profit margin: 2.5% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year whereas the company’s share price has fallen by 32% per year. Announcement • Mar 27
China Shengmu Organic Milk Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 05 July 2024 China Shengmu Organic Milk Limited proposed final dividend of HKD 0.0023 per share for the Year Ended 31 December 2023 at its shareholders' meeting to be held on 14 June 2024. Ex-dividend date: 18 June 2024. Record date: 21 June 2024. Payment date: 05 July 2024. Buy Or Sell Opportunity • Mar 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to HK$0.19. The fair value is estimated to be HK$0.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has declined by 7.8%. Announcement • Mar 12
China Shengmu Organic Milk Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 China Shengmu Organic Milk Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Reported Earnings • Sep 01
First half 2023 earnings released: EPS: CN¥0.003 (vs CN¥0.027 in 1H 2022) First half 2023 results: EPS: CN¥0.003 (down from CN¥0.027 in 1H 2022). Revenue: CN¥1.57b (up 1.1% from 1H 2022). Net income: CN¥23.3m (down 90% from 1H 2022). Profit margin: 1.5% (down from 15% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Aug 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be HK$0.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 20%. Announcement • Aug 16
China Shengmu Organic Milk Limited to Report First Half, 2023 Results on Aug 30, 2023 China Shengmu Organic Milk Limited announced that they will report first half, 2023 results on Aug 30, 2023 Announcement • Jun 16
China Shengmu Organic Milk Limited Approves Final Dividend for the Year Ended 31 December 2022 China Shengmu Organic Milk Limited at its annual general meeting held on 15 June 2023, approved the proposed final dividend of HKD 0.0113 per share for the year ended 31 December 2022. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: CN¥0.05 (vs CN¥0.056 in FY 2021) Full year 2022 results: EPS: CN¥0.05 (down from CN¥0.056 in FY 2021). Revenue: CN¥3.18b (up 6.4% from FY 2021). Net income: CN¥416.5m (down 12% from FY 2021). Profit margin: 13% (down from 16% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Yansheng Sun 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. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: CN¥0.027 (vs CN¥0.031 in 1H 2021) First half 2022 results: EPS: CN¥0.027 (down from CN¥0.031 in 1H 2021). Revenue: CN¥1.55b (up 7.1% from 1H 2021). Net income: CN¥228.8m (down 12% from 1H 2021). Profit margin: 15% (down from 18% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Apr 29
Full year 2021 earnings released: EPS: CN¥0.056 (vs CN¥0.053 in FY 2020) Full year 2021 results: EPS: CN¥0.056 (up from CN¥0.053 in FY 2020). Revenue: CN¥2.98b (up 12% from FY 2020). Net income: CN¥471.7m (up 16% from FY 2020). Profit margin: 16% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Apr 27
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, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Yansheng Sun 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. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: CN¥0.056 (vs CN¥0.053 in FY 2020) Full year 2021 results: EPS: CN¥0.056 (up from CN¥0.053 in FY 2020). Revenue: CN¥2.98b (up 12% from FY 2020). Net income: CN¥471.7m (up 16% from FY 2020). Profit margin: 16% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 03
First half 2021 earnings released: EPS CN¥0.031 (vs CN¥0.022 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.45b (up 16% from 1H 2020). Net income: CN¥259.3m (up 81% from 1H 2020). Profit margin: 18% (up from 11% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 118% 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 • Aug 25
First half 2021 earnings released: EPS CN¥0.031 (vs CN¥0.022 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥1.45b (up 16% from 1H 2020). Net income: CN¥259.3m (up 81% from 1H 2020). Profit margin: 18% (up from 11% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Director Overboarding • Aug 05
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 05
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 05
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 05
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 05
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 05
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 04
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 04
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 04
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 04
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Aug 04
Director Minfang Lu has joined 4th company board Chairman Minfang Lu has been appointed to the board of China Shengmu Organic Milk Limited (SEHK:1432). Lu now sits on a total of 4 company boards. With 4 board positions including the role of CEO at China Mengniu Dairy Company Limited (SEHK:2319), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Executive Departure • Aug 04
Independent Non-Executive Director Wenge Fu has left the company On the 30th of July, Wenge Fu's tenure as Independent Non-Executive Director ended after 4.8 years in the role. We don't have any record of a personal shareholding under Wenge's name. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 2.08 years. Executive Departure • Aug 04
Chairman Genhuo Shao has left the company On the 30th of July, Genhuo Shao was replaced as CEO by Jiawang Zhang after 1.1 years in the role. Genhuo still personally held 1.30b shares (HK$285m worth) as of March 2021. This is 16% of the company. A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 2.08 years. Under Genhuo's leadership, the company delivered a total shareholder return of -74%. Executive Departure • Jul 13
Founder & Executive Director Tongshan Yao has left the company On the 30th of June, Tongshan Yao was replaced as CEO by Jiawang Zhang. Tongshan still personally held 409.09m shares (HK$90m worth) as of March 2021. This is 4.9% of the company. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.00 years. Reported Earnings • May 02
Full year 2020 earnings released: EPS CN¥0.053 (vs CN¥0.013 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.66b (up 4.8% from FY 2019). Net income: CN¥406.7m (up 402% from FY 2019). Profit margin: 15% (up from 3.2% in FY 2019). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 24
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥2.66b (up 4.8% from FY 2019). Net income: CN¥406.7m (up 402% from FY 2019). Profit margin: 15% (up from 3.2% in FY 2019). The increase in margin was primarily driven by lower expenses. Is New 90 Day High Low • Mar 08
New 90-day low: HK$0.61 The company is down 13% from its price of HK$0.70 on 08 December 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: HK$0.88 The company is up 63% from its price of HK$0.54 on 23 October 2020. The Hong Kong market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: HK$0.78 The company is up 39% from its price of HK$0.56 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Food industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: HK$0.70 The company is up 3.0% from its price of HK$0.68 on 01 September 2020. The Hong Kong market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is down 2.0% over the same period. 
