Declared Dividend • Jun 08
Dividend of CN¥0.10 announced Shareholders will receive a dividend of CN¥0.10. Ex-date: 9th June 2026 Payment date: 9th June 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 13% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jun 05
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Deputy General Manager & Non-Independent Director Yue Tang was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • May 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Hongzhen Jiang was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • May 05
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from CN¥6.94b to CN¥7.43b. EPS estimate increased from CN¥1.27 to CN¥1.42 per share. Net income forecast to grow 31% next year vs 64% growth forecast for Entertainment industry in China. Consensus price target down from CN¥30.09 to CN¥28.55. Share price rose 3.9% to CN¥17.98 over the past week. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.89 (vs CN¥0.77 in FY 2024) Full year 2025 results: EPS: CN¥0.89 (up from CN¥0.77 in FY 2024). Revenue: CN¥5.32b (up 4.0% from FY 2024). Net income: CN¥1.90b (up 17% from FY 2024). Profit margin: 36% (up from 32% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Entertainment industry in China. 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 3% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Kingnet Network Co., Ltd., Annual General Meeting, May 22, 2026 Kingnet Network Co., Ltd., Annual General Meeting, May 22, 2026, at 14:00 China Standard Time. Location: 15F, Building A, No. 899, Yaohua Road, Pudong New Area, Shanghai China New Risk • Apr 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 Chinese stocks, typically moving 8.2% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Announcement • Mar 31
Kingnet Network Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Kingnet Network Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥25.97, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 29x in the Entertainment industry in China. Total returns to shareholders of 219% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥16.06 per share. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥25.23, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 27x in the Entertainment industry in China. Total returns to shareholders of 235% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.41 per share. Announcement • Dec 31
Kingnet Network Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Kingnet Network Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 New Risk • Nov 19
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 Chinese stocks, typically moving 7.4% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Reported Earnings • Oct 30
Third quarter 2025 earnings: Revenues and EPS in line with analyst expectations Third quarter 2025 results: EPS: CN¥0.29 (up from CN¥0.22 in 3Q 2024). Revenue: CN¥1.50b (up 9.1% from 3Q 2024). Net income: CN¥633.4m (up 35% from 3Q 2024). Profit margin: 42% (up from 34% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 30
Kingnet Network Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Kingnet Network Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥28.06, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 30x in the Entertainment industry in China. Total returns to shareholders of 291% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.38 per share. Price Target Changed • Sep 03
Price target increased by 17% to CN¥26.38 Up from CN¥22.57, the current price target is an average from 5 analysts. New target price is 16% above last closing price of CN¥22.84. Stock is up 157% over the past year. The company is forecast to post earnings per share of CN¥1.01 for next year compared to CN¥0.77 last year. Price Target Changed • Sep 01
Price target increased by 9.0% to CN¥23.77 Up from CN¥21.81, the current price target is an average from 5 analysts. New target price is 6.6% above last closing price of CN¥22.30. Stock is up 151% over the past year. The company is forecast to post earnings per share of CN¥1.03 for next year compared to CN¥0.77 last year. Reported Earnings • Aug 31
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥0.21 (up from CN¥0.18 in 2Q 2024). Revenue: CN¥1.23b (down 1.8% from 2Q 2024). Net income: CN¥431.9m (up 13% from 2Q 2024). Profit margin: 35% (up from 31% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 02
Kingnet Network Co., Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Kingnet Network Co., Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 Price Target Changed • Jul 01
Price target increased by 7.7% to CN¥21.81 Up from CN¥20.26, the current price target is an average from 5 analysts. New target price is 9.2% above last closing price of CN¥19.98. Stock is up 107% over the past year. The company is forecast to post earnings per share of CN¥0.99 for next year compared to CN¥0.77 last year. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥19.31, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 26x in the Entertainment industry in China. Total returns to shareholders of 243% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥14.16 per share. Buy Or Sell Opportunity • Jun 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.2% to CN¥17.16. The fair value is estimated to be CN¥14.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Buy Or Sell Opportunity • Jun 05
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at CN¥17.15. The fair value is estimated to be CN¥14.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Declared Dividend • May 31
Dividend of CN¥0.10 announced Dividend of CN¥0.10 is the same as last year. Ex-date: 6th June 2025 Payment date: 6th June 2025 Dividend yield will be 1.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 25% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 57% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to CN¥17.29. The fair value is estimated to be CN¥14.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Reported Earnings • Apr 26
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: CN¥0.24 (up from CN¥0.20 in 1Q 2024). Revenue: CN¥1.35b (up 3.5% from 1Q 2024). Net income: CN¥518.1m (up 22% from 1Q 2024). Profit margin: 38% (up from 33% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 26
Kingnet Network Co., Ltd., Annual General Meeting, May 23, 2025 Kingnet Network Co., Ltd., Annual General Meeting, May 23, 2025, at 14:00 China Standard Time. Location: 15F, Building A, Lane 899, Yaohua Road, Pudong New Area, Shanghai China Announcement • Mar 31
Kingnet Network Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Kingnet Network Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 31
Kingnet Network Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Kingnet Network Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: CN¥0.22 (up from CN¥0.16 in 3Q 2023). Revenue: CN¥1.37b (up 30% from 3Q 2023). Net income: CN¥470.9m (up 32% from 3Q 2023). Profit margin: 34% (in line with 3Q 2023). Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥13.32, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 24x in the Entertainment industry in China. Total returns to shareholders of 198% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.73 per share. Announcement • Sep 30
Kingnet Network Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Kingnet Network Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.81, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 21x in the Entertainment industry in China. Total returns to shareholders of 159% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.91 per share. Reported Earnings • Aug 25
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥0.18 (down from CN¥0.21 in 2Q 2023). Revenue: CN¥1.25b (up 22% from 2Q 2023). Net income: CN¥382.9m (down 12% from 2Q 2023). Profit margin: 31% (down from 43% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Aug 24
Kingnet Network Co., Ltd. Proposes Interim Cash Dividend for the First Half of 2024 Kingnet Network Co., Ltd. proposed interim Cash dividend/10 shares (tax included) of CNY1.00000000 for the first half of 2024. Price Target Changed • Aug 23
Price target decreased by 12% to CN¥12.69 Down from CN¥14.45, the current price target is an average from 5 analysts. New target price is 48% above last closing price of CN¥8.60. Stock is down 36% over the past year. The company is forecast to post earnings per share of CN¥0.82 for next year compared to CN¥0.70 last year. Price Target Changed • Aug 10
Price target decreased by 11% to CN¥14.45 Down from CN¥16.19, the current price target is an average from 5 analysts. New target price is 54% above last closing price of CN¥9.38. Stock is down 36% over the past year. The company is forecast to post earnings per share of CN¥0.85 for next year compared to CN¥0.70 last year. Announcement • Jun 29
Kingnet Network Co., Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Kingnet Network Co., Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Announcement • May 30
Kingnet Network Co., Ltd. Announces Cash Dividend for A Shares, Payable June 5, 2024 Kingnet Network Co., Ltd. announced 2023 profit distribution plan for A shares. Cash dividend per 10 shares (tax included): CNY 1.00000000. Record date: June 4, 2024, Ex-date: June 5, 2024. Payment date: June 5, 2024. Announcement • May 25
Kingnet Network Co., Ltd. Approves Cash Dividend for the Year 2023 Kingnet Network Co., Ltd. held its Annual General Meeting of 2023 on 22 May 2024, approved cash dividend (tax included) of CNY 1.00000000 per ten shares for the year 2023. Announcement • May 02
Kingnet Network Co., Ltd. Announces the Profit Distribution Proposal for 2023 Kingnet Network Co., Ltd. announced on 30 April 2024 the profit distribution proposal for 2023 as Cash dividend/10 shares (tax included): CNY 1.00000000. Announcement • May 01
Kingnet Network Co., Ltd., Annual General Meeting, May 22, 2024 Kingnet Network Co., Ltd., Annual General Meeting, May 22, 2024, at 14:00 China Standard Time. Location: The Company's Meeting Room, Shanghai China Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: CN¥0.70 (vs CN¥0.49 in FY 2022) Full year 2023 results: EPS: CN¥0.70 (up from CN¥0.49 in FY 2022). Revenue: CN¥4.30b (up 15% from FY 2022). Net income: CN¥1.46b (up 43% from FY 2022). Profit margin: 34% (up from 28% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Announcement • Mar 30
Kingnet Network Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Kingnet Network Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥9.51, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Entertainment industry in China. Total returns to shareholders of 110% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.62 per share. New Risk • Jan 22
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 Chinese stocks, typically moving 7.8% 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 (7.8% average weekly change). 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. Announcement • Dec 30
Kingnet Network Co., Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Kingnet Network Co., Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 Announcement • Dec 27
Kingnet Network's Chairman Plans to Raise Company Holdings Kingnet Network Co., Ltd. (SZSE:002517) said Chairman Jin Feng plans to raise Co Holdings by at least CNY 100 million ($14.01 million). Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥9.85, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Entertainment industry in China. Total returns to shareholders of 117% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.22 per share. Buying Opportunity • Dec 18
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CN¥15.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 63% in 2 years. Earnings is forecast to grow by 80% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥12.50, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Entertainment industry in China. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.67 per share. New Risk • Nov 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 57% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.16 (vs CN¥0.13 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.16 (up from CN¥0.13 in 3Q 2022). Revenue: CN¥1.05b (up 29% from 3Q 2022). Net income: CN¥358.1m (up 25% from 3Q 2022). Profit margin: 34% (down from 35% in 3Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 30
Price target decreased by 8.8% to CN¥18.18 Down from CN¥19.95, the current price target is an average from 7 analysts. New target price is 70% above last closing price of CN¥10.70. Stock is up 81% over the past year. The company is forecast to post earnings per share of CN¥0.72 for next year compared to CN¥0.49 last year. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥10.25, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Entertainment industry in China. Total returns to shareholders of 93% over the past three years. Announcement • Sep 23
Kingnet Network Co., Ltd. Implements 2023 Interim Dividend of A Shares, Payable on 28 September 2023 Kingnet Network Co., Ltd. implemented 2023 interim cash dividend of CNY 1.00000000 per 10 A shares (tax included). Record date is 27 September 2023. Ex-date is 28 September 2023. Payment date is 28 September 2023. Announcement • Sep 19
Kingnet Network Co., Ltd. Approves Interim Cash Dividend for the Year 2023 Kingnet Network Co., Ltd. at its EGM held on 15 September 2023 approved interim cash dividend of CNY 1.00000000 per 10 shares for the year 2023. Announcement • Sep 02
Kingnet Network Co., Ltd. (SZSE:002517) announces an Equity Buyback for CNY 200 million worth of its shares. Kingnet Network Co., Ltd. (SZSE:002517) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at a price not more than CNY 21.78 per share. The repurchase shares will be used for equity incentive plan and employee stock ownership plan. The plan will be valid for a period of 12 months. Announcement • Sep 01
Kingnet Network Co., Ltd. Proposes Dividend the First Half of 2023 Kingnet Network Co., Ltd. proposed Cash dividend/10 shares (tax included) of CNY1.00000000 the first half of 2023. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.21 (vs CN¥0.18 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.21 (up from CN¥0.18 in 2Q 2022). Revenue: CN¥1.02b (up 4.2% from 2Q 2022). Net income: CN¥434.4m (up 15% from 2Q 2022). Profit margin: 43% (up from 39% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Board Change • Aug 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Hongzhen Jiang was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 28
Kingnet Network Co., Ltd. Approves Board Elections Kingnet Network Co., Ltd. at its EGM held on July 26, 2023 approved election of Jiang Hongzhen as independent directors and Zheng Xingyan as non-employee supervisors. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥15.16, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 27x in the Entertainment industry in China. Total returns to shareholders of 341% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.79 per share. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥18.37, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 27x in the Entertainment industry in China. Total returns to shareholders of 432% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.61 per share. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.12 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.12 in 1Q 2022). Revenue: CN¥954.9m (down 7.2% from 1Q 2022). Net income: CN¥289.8m (up 17% from 1Q 2022). Profit margin: 30% (up from 24% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 87% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥15.72, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 28x in the Entertainment industry in China. Total returns to shareholders of 526% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥13.16, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 26x in the Entertainment industry in China. Total returns to shareholders of 354% over the past three years. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥9.95, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Entertainment industry in China. Total returns to shareholders of 248% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥7.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 16x in the Entertainment industry in China. Total returns to shareholders of 166% over the past three years. Board Change • Nov 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Deputy GM & Non-Independent Director Fan Zhao was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 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. 12 experienced directors. No highly experienced directors. Deputy GM & Non-Independent Director Chen Cong was the last 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: Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.13 (vs CN¥0.11 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.13 (up from CN¥0.11 in 3Q 2021). Revenue: CN¥815.7m (up 23% from 3Q 2021). Net income: CN¥286.5m (up 28% from 3Q 2021). Profit margin: 35% (up from 34% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Oct 22
An unknown buyer acquired a 5.23% stake through judicial auction in Kingnet Network Co., Ltd. (SZSE:002517) from Wang Yue. An unknown buyer acquired a 5.23% stake through judicial auction in Kingnet Network Co., Ltd. (SZSE:002517) from Wang Yue on October 19, 2022. Under the auction 112,477,078 shares have been auctioned out of 123,359,776 shares and period was from August 5, 2022 to August 6, 2022.
An unknown buyer completed the acquisition of a 5.23% stake through judicial auction in Kingnet Network Co., Ltd. (SZSE:002517) from Wang Yue on October 19, 2022. Announcement • Sep 26
Kingnet Network Co., Ltd. (SZSE:002517) announces an Equity Buyback for CNY 200 million worth of its shares. Kingnet Network Co., Ltd. (SZSE:002517) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at a price not more than CNY 11.52 per share. The repurchase shares will be used for equity incentive plan and ESOP. The plan will be valid for 12 months. Major Estimate Revision • Aug 25
Consensus revenue estimates increase by 11% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from CN¥3.62b to CN¥4.03b. EPS estimate increased from CN¥0.36 to CN¥0.46 per share. Net income forecast to grow 20% next year vs 36% growth forecast for Entertainment industry in China. Consensus price target up from CN¥6.80 to CN¥9.36. Share price was steady at CN¥7.85 over the past week. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: CN¥0.18 (vs CN¥0.06 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.18 (up from CN¥0.06 in 2Q 2021). Revenue: CN¥980.6m (up 82% from 2Q 2021). Net income: CN¥379.0m (up 196% from 2Q 2021). Profit margin: 39% (up from 24% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 23% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥6.88, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 17x in the Entertainment industry in China. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥12.06 per share. Price Target Changed • Jul 08
Price target increased to CN¥6.80 Up from CN¥6.30, the current price target is an average from 2 analysts. New target price is 24% above last closing price of CN¥5.49. Stock is up 30% over the past year. The company is forecast to post earnings per share of CN¥0.36 for next year compared to CN¥0.27 last year. Announcement • Jun 03
Kingnet Network Co., Ltd., Annual General Meeting, Jun 22, 2022 Kingnet Network Co., Ltd., Annual General Meeting, Jun 22, 2022, at 14:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual report and its summary; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider Purchase of wealth management products with idle proprietary funds; to consider Reappointment of 2022 audit firm; and to consider Shareholder return plan for the next three years from 2022 to 2024.