Recent Insider Transactions • May 30
Independent Non-Executive Director recently sold HK$813k worth of stock On the 26th of May, Ching Yee Chung sold around 150k shares on-market at roughly HK$5.42 per share. This transaction amounted to 100% 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$185m more than they bought in the last 12 months. Reported Earnings • Apr 03
Full year 2025 earnings released: CN¥0.041 loss per share (vs CN¥0.068 profit in FY 2024) Full year 2025 results: CN¥0.041 loss per share (down from CN¥0.068 profit in FY 2024). Revenue: CN¥472.4m (down 19% from FY 2024). Net loss: CN¥36.4m (down 165% from profit in FY 2024). Announcement • Apr 01
Star Plus Legend Holdings Limited, Annual General Meeting, Jun 26, 2026 Star Plus Legend Holdings Limited, Annual General Meeting, Jun 26, 2026. Announcement • Mar 19
Star Plus Legend Holdings Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 Star Plus Legend Holdings Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 New Risk • Mar 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Announcement • Nov 28
Star Plus Legend Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 540 million. Star Plus Legend Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 540 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: HKD 7.2
Transaction Features: Subsequent Direct Listing Announcement • Nov 13
Star Plus Legend Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 540 million. Star Plus Legend Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 540 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: HKD 7.2
Transaction Features: Subsequent Direct Listing Reported Earnings • Sep 01
First half 2025 earnings released: EPS: CN¥0.012 (vs CN¥0.031 in 1H 2024) First half 2025 results: EPS: CN¥0.012 (down from CN¥0.031 in 1H 2024). Revenue: CN¥354.5m (up 33% from 1H 2024). Net income: CN¥10.3m (down 59% from 1H 2024). Profit margin: 2.9% (down from 9.4% in 1H 2024). New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings have declined by 9.8% 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 Risks Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 9.8% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Significant insider selling over the past 3 months (HK$622m sold). Announcement • Aug 19
Star Plus Legend Holdings Limited to Report First Half, 2025 Results on Aug 29, 2025 Star Plus Legend Holdings Limited announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Aug 06
Star Plus Legend Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 342.598685 million. Star Plus Legend Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 342.598685 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,524,500
Price\Range: HKD 9.13
Transaction Features: Subsequent Direct Listing Announcement • Jul 26
Star Plus Legend Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 342.598685 million. Star Plus Legend Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 342.598685 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 37,524,500
Price\Range: HKD 9.13
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Jul 17
CEO & Executive Director recently sold HK$184m worth of stock On the 9th of July, Zhongshan Qian sold around 13m shares on-market at roughly HK$13.95 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Zhongshan's only on-market trade for the last 12 months. New Risk • Jul 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 30% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (30% average weekly change). High level of non-cash earnings (20% accrual ratio). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$5.20, the stock trades at a trailing P/E ratio of 73x. Average trailing P/E is 14x in the Food industry in Hong Kong. Total loss to shareholders of 57% over the past year. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to HK$5.56, the stock trades at a trailing P/E ratio of 78.1x. Average trailing P/E is 14x in the Food industry in Hong Kong. Total loss to shareholders of 52% over the past year. New Risk • May 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (20% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$4.32, the stock trades at a trailing P/E ratio of 61.8x. Average trailing P/E is 14x in the Food industry in Hong Kong. Total loss to shareholders of 58% over the past year. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$3.54, the stock trades at a trailing P/E ratio of 51.4x. Average trailing P/E is 12x in the Food industry in Hong Kong. Total loss to shareholders of 61% over the past year. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.045 in FY 2023) Full year 2024 results: EPS: CN¥0.07 (up from CN¥0.045 in FY 2023). Revenue: CN¥584.0m (up 36% from FY 2023). Net income: CN¥56.1m (up 62% from FY 2023). Profit margin: 9.6% (up from 8.0% in FY 2023). The increase in margin was driven by higher revenue. Announcement • Apr 01
Star Plus Legend Holdings Limited, Annual General Meeting, Jun 30, 2025 Star Plus Legend Holdings Limited, Annual General Meeting, Jun 30, 2025. Announcement • Mar 19
Star Plus Legend Holdings Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 Star Plus Legend Holdings Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$4.86, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Food industry in Hong Kong. Total loss to shareholders of 40% over the past year. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$3.37, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 12x in the Food industry in Hong Kong. Total loss to shareholders of 58% over the past year. New Risk • Sep 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (8.5% net profit margin). Shareholders have been diluted in the past year (3.9% increase in shares outstanding). Reported Earnings • Sep 04
First half 2024 earnings released: EPS: CN¥0.031 (vs CN¥0.025 in 1H 2023) First half 2024 results: EPS: CN¥0.031 (up from CN¥0.025 in 1H 2023). Revenue: CN¥266.5m (up 76% from 1H 2023). Net income: CN¥25.0m (up 92% from 1H 2023). Profit margin: 9.4% (up from 8.6% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Food industry in Hong Kong. Announcement • Aug 20
Star Plus Legend Holdings Limited to Report First Half, 2024 Results on Aug 29, 2024 Star Plus Legend Holdings Limited announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • May 03
Star Plus Legend Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 223.3021 million. Star Plus Legend Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 223.3021 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 31,451,000
Price\Range: HKD 7.1
Transaction Features: Subsequent Direct Listing Announcement • Apr 18
Star Plus Legend Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 223.8062 million. Star Plus Legend Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 223.8062 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 31,522,000
Price\Range: HKD 7.1
Transaction Features: Subsequent Direct Listing New Risk • Mar 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.0% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.05 (vs CN¥0.12 in FY 2022) Full year 2023 results: EPS: CN¥0.05 (down from CN¥0.12 in FY 2022). Revenue: CN¥430.2m (up 25% from FY 2022). Net income: CN¥34.5m (down 43% from FY 2022). Profit margin: 8.0% (down from 18% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Food industry in Hong Kong. Announcement • Mar 16
Star Plus Legend Holdings Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Star Plus Legend Holdings Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Announcement • Dec 29
Star Plus Legend Holdings Limited Announces Company Secretary Changes The board of directors of Star Plus Legend Holdings Limited announced that Ms. Law Kwok Wing has tendered her resignation as the company secretary of the Company and The Board announced that Ms. Lai Ying Tung has been appointed as the Company Secretary, the Authorized Representative and the Process Agent, all with effect from 28 December 2023. Ms. Lai is currently a manager of corporate services of Vistra Corporate Services (HK) Limited. She has approximately eight years of experience in the corporate secretarial field and has been providing a full range of corporate and compliance services. Ms. Lai obtained a master's degree in corporate governance from Hong Kong Metropolitan University. She has been an associate member of The Hong Kong Chartered Governance Institute and an associate member of The Chartered Governance Institute in the United Kingdom since 2021. New Risk • Oct 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 37% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (37% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Reported Earnings • Sep 03
First half 2023 earnings released First half 2023 results: EPS: CN¥0.025. Net income: CN¥13.0m (up CN¥13.0m from 1H 2022). Announcement • Aug 19
Star Plus Legend Holdings Limited to Report First Half, 2023 Results on Aug 31, 2023 Star Plus Legend Holdings Limited announced that they will report first half, 2023 results on Aug 31, 2023 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$5.87, the stock trades at a trailing P/E ratio of 71.4x. Average trailing P/E is 12x in the Consumer Retailing industry in Hong Kong. Board Change • Jul 13
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. No experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Non-Executive Director Chung Chen is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Dave Yang was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jun 14
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. No experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Non-Executive Director Chung Chen is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Elizabeth Chung was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.