Reported Earnings • Mar 29
Full year 2025 earnings released: HK$0.043 loss per share (vs HK$0.036 profit in FY 2024) Full year 2025 results: HK$0.043 loss per share (down from HK$0.036 profit in FY 2024). Revenue: HK$395.1m (up 9.1% from FY 2024). Net loss: HK$94.0m (down 221% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Mar 28
First Shanghai Investments Limited, Annual General Meeting, May 29, 2026 First Shanghai Investments Limited, Annual General Meeting, May 29, 2026. Announcement • Mar 13
First Shanghai Investments Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 First Shanghai Investments Limited announced that they will report fiscal year 2025 results at 12:30 PM, China Standard Time on Mar 27, 2026 Reported Earnings • Sep 27
First half 2025 earnings released: EPS: HK$0.002 (vs HK$0.03 in 1H 2024) First half 2025 results: EPS: HK$0.002 (down from HK$0.03 in 1H 2024). Revenue: HK$186.1m (down 3.0% from 1H 2024). Net income: HK$3.34m (down 95% from 1H 2024). Profit margin: 1.8% (down from 35% in 1H 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Sep 11
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 16% 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 (16% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (4.2% net profit margin). Market cap is less than US$100m (HK$777.7m market cap, or US$99.8m). New Risk • Sep 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$777.7m (US$99.7m) 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Profit margins are more than 30% lower than last year (4.2% net profit margin). Market cap is less than US$100m (HK$777.7m market cap, or US$99.7m). Reported Earnings • Aug 25
First half 2025 earnings released: EPS: HK$0.002 (vs HK$0.03 in 1H 2024) First half 2025 results: EPS: HK$0.002 (down from HK$0.03 in 1H 2024). Revenue: HK$186.1m (down 3.0% from 1H 2024). Net income: HK$3.34m (down 95% from 1H 2024). Profit margin: 1.8% (down from 35% in 1H 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. New Risk • Aug 23
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: 4.2% Last year net profit margin: 17% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.2% net profit margin). Announcement • Aug 09
First Shanghai Investments Limited to Report First Half, 2025 Results on Aug 22, 2025 First Shanghai Investments Limited announced that they will report first half, 2025 results on Aug 22, 2025 New Risk • Jun 25
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 14% 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: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (HK$777.7m market cap, or US$99.1m). Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: HK$0.036 (vs HK$0.006 loss in FY 2023) Full year 2024 results: EPS: HK$0.036 (up from HK$0.006 loss in FY 2023). Revenue: HK$362.1m (up 31% from FY 2023). Net income: HK$78.0m (up HK$88.6m from FY 2023). Profit margin: 22% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
First Shanghai Investments Limited, Annual General Meeting, May 23, 2025 First Shanghai Investments Limited, Annual General Meeting, May 23, 2025. Announcement • Mar 14
First Shanghai Investments Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 First Shanghai Investments Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Board Change • Mar 06
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Non-Executive Director Zhiyun Li 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. Insufficient board refreshment. Announcement • Mar 05
First Shanghai Investments Limited Announces Demise of WOO Chia-Wei, Independent Non-Executive Director, Chairman of Nomination Committee and Member of Audit Committee and Remuneration Committee The board of directors of First Shanghai Investments Limited announced with deepest sorrow that Prof. WOO Chia-Wei ("Prof. Woo"), an independent non-executive Director, the chairman of the nomination committee and a member of the audit committee and the remuneration committee of the Board, passed away on 2 March 2025. The Company will endeavor to identify a suitable candidate in order to fill the vacancy of the chairman of the nomination committee as soon as practicable. Recent Insider Transactions • Oct 18
Chairman recently bought HK$313k worth of stock On the 14th of October, Yuen Yat Lo bought around 1m shares on-market at roughly HK$0.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Yuen Yat has been a buyer over the last 12 months, purchasing a net total of HK$792k worth in shares. Reported Earnings • Oct 01
First half 2024 earnings released: EPS: HK$0.03 (vs HK$0.001 loss in 1H 2023) First half 2024 results: EPS: HK$0.03 (up from HK$0.001 loss in 1H 2023). Revenue: HK$191.8m (up 40% from 1H 2023). Net income: HK$66.3m (up HK$68.2m from 1H 2023). Profit margin: 35% (up from net loss in 1H 2023). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Sep 30
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 22% 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 (22% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (HK$613.4m market cap, or US$79.0m). Recent Insider Transactions • Sep 27
Chairman recently bought HK$57k worth of stock On the 24th of September, Yuen Yat Lo bought around 440k shares on-market at roughly HK$0.13 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Yuen Yat has been a buyer over the last 12 months, purchasing a net total of HK$148k worth in shares. Recent Insider Transactions • Sep 13
Chairman recently bought HK$57k worth of stock On the 10th of September, Yuen Yat Lo bought around 496k shares on-market at roughly HK$0.11 per share. This transaction amounted to less than 1% 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 Yuen Yat's only on-market trade for the last 12 months. Announcement • Aug 16
First Shanghai Investments Limited to Report First Half, 2024 Results on Aug 30, 2024 First Shanghai Investments Limited announced that they will report first half, 2024 results on Aug 30, 2024 Reported Earnings • Mar 27
Full year 2023 earnings released: HK$0.006 loss per share (vs HK$0.035 loss in FY 2022) Full year 2023 results: HK$0.006 loss per share (improved from HK$0.035 loss in FY 2022). Revenue: HK$276.4m (down 15% from FY 2022). Net loss: HK$10.6m (loss narrowed 81% from FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Mar 26
First Shanghai Investments Limited, Annual General Meeting, May 24, 2024 First Shanghai Investments Limited, Annual General Meeting, May 24, 2024. New Risk • Mar 14
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 48% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (HK$328.6m market cap, or US$42.0m). Announcement • Mar 12
First Shanghai Investments Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 First Shanghai Investments Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 New Risk • Nov 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 40% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 48% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (HK$243.2m market cap, or US$31.2m). Reported Earnings • Sep 05
First half 2023 earnings released: HK$0.001 loss per share (vs HK$0.021 loss in 1H 2022) First half 2023 results: HK$0.001 loss per share (improved from HK$0.021 loss in 1H 2022). Revenue: HK$137.0m (down 19% from 1H 2022). Net loss: HK$1.93m (loss narrowed 94% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Aug 18
First Shanghai Investments Limited to Report First Half, 2023 Results on Aug 31, 2023 First Shanghai Investments Limited announced that they will report first half, 2023 results on Aug 31, 2023 Announcement • Jun 30
Shanghai Xinyutong Supply Chain Management Co., Ltd entered into an agreement to acquire 61.92% stake in Shanghai Zhong Chuang International Container Storage & Transportation Company Limited from First Shanghai Investments Limited (SEHK:227) for CNY 44 million. Shanghai Xinyutong Supply Chain Management Co., Ltd entered into an agreement to acquire 61.92% stake in Shanghai Zhong Chuang International Container Storage & Transportation Company Limited from First Shanghai Investments Limited (SEHK:227) for CNY 44 million on June 29, 2023. Shanghai Zhong Chuang reported loss after tax of CNY 1.646 million for the year ended December 31, 2022. First Shanghai intends to apply the entire net proceeds to the general working capital. Announcement • May 31
First Shanghai Investments Limited Announces Board Changes The Board (the "Board") of Directors of First Shanghai Investments Limited (the "Company", together with its subsidiaries, the "Group") announced that Mr. Li Zhiyun () ("Mr. Li") has been appointed as an independent non-executive Director and a member of audit committee of the Board (the "Audit Committee") with effect from 29 May 2023. Mr. Li, aged 59, is the founder of several entities, namely Mandarin Fine Foods Co. Ltd ()("Mandarin Fine Foods"), Beijing Pan Am International Flight School ()("Beijing PAIFS"), Phoenix International Flying College () (the "PIFC"), CETC Wuhu Diamond Aircraft Manufacture Co. Ltd. (the "CETC Wuhu Diamond Aircraft") and Wuhu Zhongke Aircraft Co. Ltd. () ("Wuhu Zhongke Aircraft"). Mr. Li has been acting as an investor and a director of the PIFC since October 2010, the vice-chairman of the board of CETC Wuhu Diamond Aircraft since October 2013, a director of Shandong Binao Aircraft Manufacture Co. Ltd* () since October 2014 and a general manager of Wuhu Zhongke Aircraft since October 2016. Mr. Li worked at Protocol Department of Ministry of Foreign Affairs of the People's Republic of China (the "PRC") from September 1986 to January 1990 and Foreign Affairs Office of Central Institute of Finance of Ministry of Finance (currently known as School of Finance of Central University of Finance and Economics) of the PRC from January 1990 to September 1990. He was an owner of Mandarin Fine Foods from October 1990 to May 2004 and an investor of Beijing PAIFS from October 2005 to May 2009. Mr. Li graduated from the Foreign Affairs Institute of China (currently known as China Foreign Affairs University) with a bachelor's degree in international law in June 1986. The Board also hereby announces that Mr. Li has also been appointed as a member of the Audit Committee with effect from 29 May 2023. The Board takes this opportunity to welcome Mr. Li to join the Board. Reported Earnings • Mar 26
Full year 2022 earnings released: HK$0.035 loss per share (vs HK$0.096 loss in FY 2021) Full year 2022 results: HK$0.035 loss per share (improved from HK$0.096 loss in FY 2021). Revenue: HK$326.9m (down 35% from FY 2021). Net loss: HK$55.5m (loss narrowed 60% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. Independent Non-Executive Director Xiaohe Zhou was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 28
First half 2022 earnings released: HK$0.021 loss per share (vs HK$0.023 loss in 1H 2021) First half 2022 results: HK$0.021 loss per share. Revenue: HK$168.7m (down 30% from 1H 2021). Net loss: HK$33.2m (loss widened 4.0% from 1H 2021). Reported Earnings • Aug 28
First half 2022 earnings released: HK$0.021 loss per share (vs HK$0.023 loss in 1H 2021) First half 2022 results: HK$0.021 loss per share. Revenue: HK$168.7m (down 30% from 1H 2021). Net loss: HK$33.2m (loss widened 4.0% from 1H 2021). Announcement • Aug 13
First Shanghai Investments Limited to Report First Half, 2022 Results on Aug 26, 2022 First Shanghai Investments Limited announced that they will report first half, 2022 results on Aug 26, 2022 Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Non-Executive Director Xiaohe Zhou was the last independent director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 27
Full year 2021 earnings released: HK$0.096 loss per share (vs HK$0.064 loss in FY 2020) Full year 2021 results: HK$0.096 loss per share (down from HK$0.064 loss in FY 2020). Revenue: HK$499.7m (up 18% from FY 2020). Net loss: HK$139.9m (loss widened 55% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 28
Full year 2021 earnings released: HK$0.096 loss per share (vs HK$0.064 loss in FY 2020) Full year 2021 results: HK$0.096 loss per share (down from HK$0.064 loss in FY 2020). Revenue: HK$499.7m (up 18% from FY 2020). Net loss: HK$139.9m (loss widened 55% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 01
First half 2021 earnings released: HK$0.023 loss per share (vs HK$0.029 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: HK$240.3m (up 34% from 1H 2020). Net loss: HK$32.0m (loss narrowed 22% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 28
Full year 2020 earnings released: HK$0.064 loss per share (vs HK$0.007 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: HK$423.7m (down 16% from FY 2019). Net loss: HK$90.3m (down HK$100.9m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
First Shanghai Investments Limited to Report Fiscal Year 2020 Results on Mar 26, 2021 First Shanghai Investments Limited announced that they will report fiscal year 2020 results on Mar 26, 2021 Is New 90 Day High Low • Jan 08
New 90-day high: HK$0.38 The company is up 23% from its price of HK$0.31 on 09 October 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 10.0% over the same period. Reported Earnings • Sep 27
First half earnings released Over the last 12 months the company has reported total losses of HK$45.2m, with earnings decreasing by HK$73.5m from the prior year. Total revenue was HK$445.1m over the last 12 months, up 1.3% from the prior year. Is New 90 Day High Low • Sep 22
New 90-day low: HK$0.32 The company is down 14% from its price of HK$0.36 on 24 June 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 14% over the same period. Announcement • Jul 26
First Shanghai Investments Limited to Report First Half, 2020 Results on Aug 31, 2020 First Shanghai Investments Limited announced that they will report first half, 2020 results on Aug 31, 2020 