Announcement • May 29
Xinyi Glass Holdings Limited Approves Final Cash Dividend for the Year Ended 31 December 2025 Xinyi Glass Holdings Limited at its Annual General Meeting held on May 29, 2026 approved a final dividend of HKD 0.215 (21.5 HK cents) per share for the year ended December 31, 2025. Upcoming Dividend • May 26
Upcoming dividend of HK$0.21 per share Eligible shareholders must have bought the stock before 02 June 2026. Payment date: 29 July 2026. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Hong Kong dividend payers (6.9%). Lower than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$11.31, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Building industry in Asia. Total loss to shareholders of 1.7% over the past three years. Reported Earnings • May 05
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.62 (down from CN¥0.79 in FY 2024). Revenue: CN¥20.8b (down 6.7% from FY 2024). Net income: CN¥2.73b (down 19% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 04
Final dividend of HK$0.21 announced Shareholders will receive a dividend of HK$0.21. Ex-date: 2nd June 2026 Payment date: 29th July 2026 Dividend yield will be 3.1%, which is lower than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 9.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Mar 02
Price target increased by 9.4% to HK$9.42 Up from HK$8.61, the current price target is an average from 12 analysts. New target price is 19% below last closing price of HK$11.67. Stock is up 55% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.62 last year. Reported Earnings • Feb 28
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.62 (down from CN¥0.79 in FY 2024). Revenue: CN¥20.8b (down 6.7% from FY 2024). Net income: CN¥2.73b (down 19% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Feb 12
Xinyi Glass Holdings Limited to Report Fiscal Year 2025 Results on Feb 27, 2026 Xinyi Glass Holdings Limited announced that they will report fiscal year 2025 results on Feb 27, 2026 Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$10.46, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 19x in the Building industry in Asia. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$4.80 per share. Reported Earnings • Sep 26
First half 2025 earnings released: EPS: CN¥0.23 (vs CN¥0.59 in 1H 2024) First half 2025 results: EPS: CN¥0.23 (down from CN¥0.59 in 1H 2024). Revenue: CN¥9.82b (down 9.7% from 1H 2024). Net income: CN¥1.01b (down 60% from 1H 2024). Profit margin: 10% (down from 23% in 1H 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 09
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from CN¥0.752 to CN¥0.663 per share. Revenue forecast steady at CN¥21.3b. Net income forecast to grow 81% next year vs 21% growth forecast for Building industry in Hong Kong. Consensus price target up from HK$8.05 to HK$8.27. Share price rose 2.7% to HK$8.35 over the past week. Declared Dividend • Aug 03
First half dividend of HK$0.13 announced Shareholders will receive a dividend of HK$0.13. Ex-date: 14th August 2025 Payment date: 10th October 2025 Dividend yield will be 2.8%, which is lower than the industry average of 7.4%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 109% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 02
First half 2025 earnings released First half 2025 results: Revenue: CN¥9.82b (down 10% from 1H 2024). Net income: CN¥1.01b (down 60% from 1H 2024). Profit margin: 10% (down from 23% in 1H 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Building industry in Asia. Announcement • Jul 22
Xinyi Glass Holdings Limited to Report First Half, 2025 Results on Aug 01, 2025 Xinyi Glass Holdings Limited announced that they will report first half, 2025 results on Aug 01, 2025 Announcement • Jul 18
Xinyi Glass Holdings Limited Provides Earnings Guidance for the Six Months Ended June 2025 Xinyi Glass Holdings Limited provided earnings guidance for the six months ended June 2025. For the period, company expected consolidated net profit attributable to the equity holders of the
Company to decrease by 55% to 65%, as compared to the amount of the Net Profit of RMB 2,509.3 million 1 for the six months ended 30 June 2024 (the "1H2024"). The expected decrease in the amount of the Net Profit for the 1H2025 is primarily due to the following: (1) the continuous decreases in the amount of revenue and gross profit generated from the Group's float glass business because of (a) the significant decreases in the number of newly completed property projects in the People's Republic of China (the "PRC"); (b) the sluggish demand for the float glass products; and (c) the suppressed market prices of the float glass products in the PRC during the 1H2025, as compared to the 1H2024; (2) the decrease in the amount of profit shared from an associate of the Company, Xinyi Solar Holdings Limited ("Xinyi Solar"), a company listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (stock code: 00968), during the 1H2025, further information on which is set forth in the announcement of Xinyi Solar of today's date; and (3) the increase in the amount of the impairment loss arising from the idle production facilities of the Group in the PRC and the amount of loss of disposal of certain production facilities of the Group in the PRC. Announcement • May 31
Xinyi Glass Holdings Limited Approves Final Dividend for the Year Ended December 31, 2024 Xinyi Glass Holdings Limited at AGM on 30 May 2025 approved final dividend of 10.0 HK cents per share for the year ended December 31, 2024. Upcoming Dividend • May 27
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 03 June 2025. Payment date: 30 July 2025. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 5.4%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (2.8%). Reported Earnings • May 02
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.79 (down from CN¥1.18 in FY 2023). Revenue: CN¥22.3b (down 8.1% from FY 2023). Net income: CN¥3.37b (down 31% from FY 2023). Profit margin: 15% (down from 20% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 4.4%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 25% per year. Price Target Changed • Apr 16
Price target decreased by 7.3% to HK$8.23 Down from HK$8.88, the current price target is an average from 9 analysts. New target price is 22% above last closing price of HK$6.75. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.79 last year. Recent Insider Transactions • Apr 11
CEO & Executive Director recently bought HK$30m worth of stock On the 7th of April, Ching Sai Tung bought around 4m shares on-market at roughly HK$6.97 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 Ching Sai's only on-market trade for the last 12 months. Declared Dividend • Mar 06
Final dividend of HK$0.10 announced Shareholders will receive a dividend of HK$0.10. Ex-date: 3rd June 2025 Payment date: 1st January 1970 Dividend yield will be 5.2%, which is lower than the industry average of 7.4%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Mar 05
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from HK$24.8b to HK$22.4b. EPS estimate also fell from HK$1.14 per share to HK$0.785 per share. Net income forecast to shrink 41% next year vs 24% growth forecast for Building industry in Hong Kong . Consensus price target down from HK$9.69 to HK$8.59. Share price fell 3.0% to HK$7.51 over the past week. Announcement • Mar 03
Xinyi Glass Holdings Limited, Annual General Meeting, May 30, 2025 Xinyi Glass Holdings Limited, Annual General Meeting, May 30, 2025. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: HK$0.79 (vs HK$1.29 in FY 2023) Full year 2024 results: EPS: HK$0.79 (down from HK$1.29 in FY 2023). Revenue: HK$22.3b (down 17% from FY 2023). Net income: HK$3.37b (down 37% from FY 2023). Profit margin: 15% (down from 20% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Announcement • Feb 18
Xinyi Glass Holdings Limited to Report Q4, 2024 Results on Feb 28, 2025 Xinyi Glass Holdings Limited announced that they will report Q4, 2024 results on Feb 28, 2025 Price Target Changed • Jan 14
Price target decreased by 7.7% to HK$9.69 Down from HK$10.50, the current price target is an average from 12 analysts. New target price is 40% above last closing price of HK$6.90. Stock is down 6.9% over the past year. The company is forecast to post earnings per share of HK$0.88 for next year compared to HK$1.29 last year. Major Estimate Revision • Jan 06
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from HK$1.24 to HK$0.828 per share. Revenue forecast steady at HK$24.8b. Net income forecast to shrink 29% next year vs 28% growth forecast for Building industry in Hong Kong . Consensus price target down from HK$10.81 to HK$10.50. Share price fell 8.9% to HK$7.27 over the past week. Announcement • Jan 02
Xinyi Glass Holdings Limited Provides Consolidated Financial Guidance for the Full Year Ended December 31, 2024 Xinyi Glass Holdings Limited provides consolidated financial guidance for the full year ended December 31, 2024. For the period, the company expects net profit attributable to the equity holders of the to decrease by 30% to 40%, as compared to the amount of the net profit of RMB 4,883 million for the year ended 31 December 2023. Such decrease in the amount of the net profit was primarily due to the following reasons: decrease in the amount of revenue and gross profit generated from the Group's float glass business because of the subdued real property market in the PRC and the significant decreases in the number of newly completed property projects, the demand for the float glass products and the market prices in the PRC during the six months ending 31 December 2024, as compared to the same period last year; the amount of disposal loss arising from the suspended production facilities of the Group in the PRC on a permanent basis; and decrease in the amount of profit shared from an associate of the Company, Xinyi Solar Holdings Limited during the six months ending 31 December 2024 further information on which is set forth in the announcement of Xinyi Solar on 31 December 2024. Reported Earnings • Oct 02
First half 2024 earnings released: EPS: HK$0.65 (vs HK$0.52 in 1H 2023) First half 2024 results: EPS: HK$0.65 (up from HK$0.52 in 1H 2023). Revenue: HK$11.8b (down 6.4% from 1H 2023). Net income: HK$2.73b (up 27% from 1H 2023). Profit margin: 23% (up from 17% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$8.74, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Building industry in Asia. Total loss to shareholders of 55% over the past three years. New Risk • Sep 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (157% cash payout ratio). Declared Dividend • Aug 02
First half dividend increased to HK$0.31 Dividend of HK$0.31 is 19% higher than last year. Ex-date: 13th August 2024 Payment date: 16th October 2024 Dividend yield will be 8.6%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (146% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 1.6% over the next 3 years. However, it would need to fall by 47% to increase the payout ratio to a potentially unsustainable range. Announcement • Jul 20
Xinyi Glass Holdings Limited to Report First Half, 2024 Results on Jul 31, 2024 Xinyi Glass Holdings Limited announced that they will report first half, 2024 results on Jul 31, 2024 Upcoming Dividend • May 28
Upcoming dividend of HK$0.37 per share Eligible shareholders must have bought the stock before 04 June 2024. Payment date: 07 August 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Hong Kong dividend payers (7.5%). In line with average of industry peers (6.0%). Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$10.00, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Building industry in Asia. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$9.60 per share. Announcement • Apr 28
Xinyi Glass Holdings Limited, Annual General Meeting, May 31, 2024 Xinyi Glass Holdings Limited, Annual General Meeting, May 31, 2024. Announcement • Apr 27
Xinyi Glass Holdings Limited Announces Retirement of Yang Siu Shun, J.P. as Independent Non-Executive Director The board of directors of Xinyi Glass Holdings Limited announced the following proposed changes to the independent non-executive Directors and the composition of the Board committees. Retirement of Dr. Yang Dr. YANG Siu Shun, J.P. ("Dr. Yang") has informed the Board that he would not offer himself for re-election as a Director at the forthcoming annual general meeting (the "AGM") of the Company to be held on 31 May 2024. Accordingly he will retire from his office as an independent non-executive Director effective from the conclusion of the AGM. Following his retirement, Dr. Yang will cease to be the chairman of the audit committee (the "Audit Committee") of the Board and a member of each of the nomination committee (the "Nomination Committee") and the remuneration committee (the "Remuneration Committee") of the Board. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$9.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Building industry in Hong Kong. Total loss to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$9.37 per share. Declared Dividend • Mar 01
Final dividend increased to HK$0.37 Dividend of HK$0.37 is 68% higher than last year. Ex-date: 4th June 2024 Payment date: 7th August 2024 Dividend yield will be 7.8%, which is higher than the industry average of 7.4%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (230% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Feb 29
Price target decreased by 8.5% to HK$12.35 Down from HK$13.49, the current price target is an average from 12 analysts. New target price is 54% above last closing price of HK$8.00. Stock is down 49% over the past year. The company is forecast to post earnings per share of HK$1.30 for next year compared to HK$1.29 last year. Reported Earnings • Feb 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: HK$1.29 (up from HK$1.27 in FY 2022). Revenue: HK$26.8b (up 4.1% from FY 2022). Net income: HK$5.37b (up 4.6% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Building industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 26% per year whereas the company’s share price has fallen by 29% per year. Announcement • Feb 28
Xinyi Glass Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 7 August 2024 Xinyi Glass Holdings Limited proposed Final Dividend of HKD 0.37 per share for the year ended 31 December 2023. Ex-dividend date is 04 June 2024. Record date is 11 June 2024. Payment date is 07 August 2024. Announcement • Feb 16
Xinyi Glass Holdings Limited to Report Fiscal Year 2023 Results on Feb 28, 2024 Xinyi Glass Holdings Limited announced that they will report fiscal year 2023 results on Feb 28, 2024 Buy Or Sell Opportunity • Feb 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to HK$6.18. The fair value is estimated to be HK$7.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 3.8%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Recent Insider Transactions • Dec 01
CEO & Executive Director recently bought HK$3.1m worth of stock On the 29th of November, Ching Sai Tung bought around 349k shares on-market at roughly HK$8.88 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$20m. Ching Sai has been a buyer over the last 12 months, purchasing a net total of HK$99m worth in shares. Recent Insider Transactions • Nov 09
CEO & Executive Director recently bought HK$9.1m worth of stock On the 7th of November, Ching Sai Tung bought around 1m shares on-market at roughly HK$9.10 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$20m. Ching Sai has been a buyer over the last 12 months, purchasing a net total of HK$96m worth in shares. Price Target Changed • Oct 25
Price target decreased by 10% to HK$14.73 Down from HK$16.39, the current price target is an average from 12 analysts. New target price is 64% above last closing price of HK$8.99. Stock is down 19% over the past year. The company is forecast to post earnings per share of HK$1.36 for next year compared to HK$1.27 last year. Recent Insider Transactions • Oct 22
CEO & Executive Director recently bought HK$7.5m worth of stock On the 19th of October, Ching Sai Tung bought around 800k shares on-market at roughly HK$9.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$20m. Ching Sai has been a buyer over the last 12 months, purchasing a net total of HK$82m worth in shares. New Risk • Oct 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.8% 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: Minor Risks Dividend is not well covered by cash flows (175% cash payout ratio). Profit margins are more than 30% lower than last year (16% net profit margin). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Reported Earnings • Oct 05
First half 2023 earnings released: EPS: HK$0.52 (vs HK$0.82 in 1H 2022) First half 2023 results: EPS: HK$0.52 (down from HK$0.82 in 1H 2022). Revenue: HK$12.6b (down 7.5% from 1H 2022). Net income: HK$2.15b (down 35% from 1H 2022). Profit margin: 17% (down from 24% in 1H 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Building industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Sep 27
CEO & Executive Director recently bought HK$11m worth of stock On the 25th of September, Ching Sai Tung bought around 1m shares on-market at roughly HK$10.55 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$12m. Ching Sai has been a buyer over the last 12 months, purchasing a net total of HK$49m worth in shares. Price Target Changed • Sep 19
Price target decreased by 10.0% to HK$15.56 Down from HK$17.28, the current price target is an average from 13 analysts. New target price is 42% above last closing price of HK$10.98. Stock is down 17% over the past year. The company is forecast to post earnings per share of HK$1.37 for next year compared to HK$1.27 last year. Recent Insider Transactions • Aug 05
CEO & Executive Director recently bought HK$11m worth of stock On the 2nd of August, Ching Sai Tung bought around 877k shares on-market at roughly HK$12.30 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. Ching Sai has been a buyer over the last 12 months, purchasing a net total of HK$34m worth in shares. Upcoming Dividend • Aug 04
Upcoming dividend of HK$0.26 per share at 4.9% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 10 October 2023. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 4.9%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (4.8%). Reported Earnings • Aug 01
First half 2023 earnings released: EPS: HK$0.52 (vs HK$0.82 in 1H 2022) First half 2023 results: EPS: HK$0.52 (down from HK$0.82 in 1H 2022). Revenue: HK$12.6b (down 7.5% from 1H 2022). Net income: HK$2.15b (down 35% from 1H 2022). Profit margin: 17% (down from 24% in 1H 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Building industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year.