Upcoming Dividend • Jun 01
Upcoming dividend of HK$0.068 per share Eligible shareholders must have bought the stock before 08 June 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 8.9%. Within top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (2.5%). Ankündigung • May 29
Cathay Group Holdings Inc. Approves to Declare Final Dividend for the Year Ended 31 December 2025 Cathay Group Holdings Inc. at its AGM held on May 29, 2026, approved to declare a final dividend of HKD 0.068 per share for the year ended 31 December 2025. Reported Earnings • Apr 01
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: CN¥0.19 (up from CN¥0.057 in FY 2024). Revenue: CN¥787.7m (flat on FY 2024). Net income: CN¥301.0m (up 227% from FY 2024). Profit margin: 38% (up from 12% in FY 2024). Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Ankündigung • Mar 31
Cathay Group Holdings Inc., Annual General Meeting, May 29, 2026 Cathay Group Holdings Inc., Annual General Meeting, May 29, 2026. Ankündigung • Mar 18
Cathay Group Holdings Inc. to Report Fiscal Year 2025 Results on Mar 30, 2026 Cathay Group Holdings Inc. announced that they will report fiscal year 2025 results on Mar 30, 2026 Reported Earnings • Oct 04
First half 2025 earnings released: EPS: CN¥0.077 (vs CN¥0.03 in 1H 2024) First half 2025 results: EPS: CN¥0.077 (up from CN¥0.03 in 1H 2024). Revenue: CN¥379.3m (down 1.9% from 1H 2024). Net income: CN¥125.4m (up 158% from 1H 2024). Profit margin: 33% (up from 13% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.38, the stock trades at a trailing P/E ratio of 12.1x. Average forward P/E is 17x in the Entertainment industry in Hong Kong. Total returns to shareholders of 64% over the past three years. Reported Earnings • Sep 02
First half 2025 earnings released: EPS: CN¥0.077 (vs CN¥0.03 in 1H 2024) First half 2025 results: EPS: CN¥0.077 (up from CN¥0.03 in 1H 2024). Revenue: CN¥379.3m (down 1.9% from 1H 2024). Net income: CN¥125.4m (up 158% from 1H 2024). Profit margin: 33% (up from 13% in 1H 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Ankündigung • Aug 19
Cathay Group Holdings Inc. to Report First Half, 2025 Results on Aug 29, 2025 Cathay Group Holdings Inc. announced that they will report first half, 2025 results on Aug 29, 2025 Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$1.80, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Entertainment industry in Hong Kong. Total returns to shareholders of 77% over the past three years. Ankündigung • Jun 30
Cathay Group Holdings Inc. Announces Nomination Committee Appointments, Effect from 27 June 2025 Cathay Group Holdings Inc. announced that Ms. Jacqueline Luo, an executive Director, and Mr. Huang Yu, an independent non-executive Director, have been appointed as members of the nomination committee of the Company with effect from 27 June 2025. Following the above appointments, the Nomination Committee comprises three independent non- executive Directors (namely Mr. Zhang Jizhong, Mr. Lee Cheuk Yin Dannis and Mr. Huang Yu) and two executive Directors (namely Mr. Pu Shulin (chairman of the Nomination Committee) and Ms. Jacqueline Luo). Buy Or Sell Opportunity • Jun 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to HK$1.36. The fair value is estimated to be HK$1.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 204% in the next year. Upcoming Dividend • May 30
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 06 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (2.0%). Buy Or Sell Opportunity • May 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to HK$1.34. The fair value is estimated to be HK$1.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 204% in the next year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$1.29, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Entertainment industry in Hong Kong. Total returns to shareholders of 40% over the past three years. Declared Dividend • Mar 31
Dividend of HK$0.06 announced Shareholders will receive a dividend of HK$0.06. Ex-date: 6th June 2025 Payment date: 27th June 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.2%. Reported Earnings • Mar 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.057 (up from CN¥0.12 loss in FY 2023). Revenue: CN¥782.4m (up 3.1% from FY 2023). Net income: CN¥92.1m (up CN¥288.3m from FY 2023). Profit margin: 12% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 62%. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Ankündigung • Mar 29
Cathay Group Holdings Inc., Annual General Meeting, May 30, 2025 Cathay Group Holdings Inc., Annual General Meeting, May 30, 2025. Ankündigung • Mar 18
Cathay Group Holdings Inc. to Report Fiscal Year 2024 Final Results on Mar 28, 2025 Cathay Group Holdings Inc. announced that they will report fiscal year 2024 final results on Mar 28, 2025 New Risk • Jan 31
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 9.4% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Oct 03
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to HK$0.80. The fair value is estimated to be HK$0.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Sep 29
First half 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.073 loss in 1H 2023) First half 2024 results: EPS: CN¥0.03 (up from CN¥0.073 loss in 1H 2023). Revenue: CN¥386.6m (up 2.6% from 1H 2023). Net income: CN¥48.5m (up CN¥167.6m from 1H 2023). Profit margin: 13% (up from net loss in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in Hong Kong. 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. Ankündigung • Aug 20
Cathay Group Holdings Inc. to Report First Half, 2024 Results on Aug 29, 2024 Cathay Group Holdings Inc. announced that they will report first half, 2024 results on Aug 29, 2024 Recent Insider Transactions • Jun 15
Founder recently bought HK$530k worth of stock On the 6th of June, Shulin Pu bought around 557k shares on-market at roughly HK$0.95 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$911k. Shulin has been a buyer over the last 12 months, purchasing a net total of HK$10m worth in shares. Ankündigung • May 31
Cathay Media and Education Group Inc. Approves Special Dividend for the Year Ended 31 December 2023 Cathay Media and Education Group Inc. approved special dividend of HKD 0.06 per share for the year ended 31 December 2023 at its Annual General Meeting held on 30 May 2024. Upcoming Dividend • May 31
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 28 June 2024. The company last paid an ordinary dividend in April 2021. The average dividend yield among industry peers is 3.2%. Ankündigung • Apr 30
Cathay Media and Education Group Inc. Proposes Special Dividend for the Year Ended 31 December 2023 Cathay Media and Education Group Inc. announced that at the AGM to be held on 30 May 2024, the company proposed special dividend of HKD 0.06 per share for the year ended 31 December 2023. Recent Insider Transactions • Apr 10
Founder recently bought HK$318k worth of stock On the 3rd of April, Shulin Pu bought around 400k shares on-market at roughly HK$0.80 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$330k. Shulin has been a buyer over the last 12 months, purchasing a net total of HK$2.3m worth in shares. Ankündigung • Mar 28
Cathay Media and Education Group Inc., Annual General Meeting, May 30, 2024 Cathay Media and Education Group Inc., Annual General Meeting, May 30, 2024. Reported Earnings • Mar 28
Full year 2023 earnings released: CN¥0.12 loss per share (vs CN¥0.032 profit in FY 2022) Full year 2023 results: CN¥0.12 loss per share (down from CN¥0.032 profit in FY 2022). Revenue: CN¥759.0m (up 16% from FY 2022). Net loss: CN¥196.3m (down 472% from profit in FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Ankündigung • Mar 27
Cathay Media and Education Group Inc. Announces Special Dividend for the Year Ended December 31, 2023, Payable on June 28, 2024 Cathay Media and Education Group Inc. announced special dividend of HKD 0.06 per share for the year ended December 31, 2023. Ex-dividend date is June 07, 2024. Record date is June 14, 2024. Payment date is June 28, 2024. Price Target Changed • Mar 23
Price target decreased by 23% to HK$1.65 Down from HK$2.13, the current price target is an average from 2 analysts. New target price is 114% above last closing price of HK$0.77. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥0.14 for next year compared to CN¥0.032 last year. Ankündigung • Mar 16
Cathay Media and Education Group Inc. to Report Fiscal Year 2023 Results on Mar 27, 2024 Cathay Media and Education Group Inc. announced that they will report fiscal year 2023 results on Mar 27, 2024 Recent Insider Transactions • Jan 23
Founder recently bought HK$249k worth of stock On the 18th of January, Shulin Pu bought around 350k shares on-market at roughly HK$0.71 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 Shulin's only on-market trade for the last 12 months. Upcoming Dividend • Oct 13
Upcoming dividend of HK$0.03 per share at 7.6% yield Eligible shareholders must have bought the stock before 20 October 2023. Payment date: 10 November 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 7.6%. Lower than top quartile of Hong Kong dividend payers (8.1%). Higher than average of industry peers (3.3%). Reported Earnings • Sep 03
First half 2023 earnings released: CN¥0.073 loss per share (vs CN¥0.069 profit in 1H 2022) First half 2023 results: CN¥0.073 loss per share (down from CN¥0.069 profit in 1H 2022). Revenue: CN¥376.8m (flat on 1H 2022). Net loss: CN¥119.1m (down 205% from profit in 1H 2022). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Entertainment industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Ankündigung • Aug 30
Cathay Media and Education Group Inc. Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 10 November 2023 Cathay Media and Education Group Inc. announced interim dividend of HKD 0.03 per share for the six months ended 30 June 2023. Dividend payable on 10 November 2023 and record date of 27 October 2023. Ankündigung • Aug 23
Cathay Media and Education Group Inc. Provides Consolidated Earnings Guidance for the the Six Months Ended 30 June 2023 Cathay Media and Education Group Inc. provided consolidated earnings guidance for the the six months ended 30 June 2023. For the six months, the company is expected to record an unaudited consolidated loss for the Reporting Period of not more than RMB 120 million, as compared to an unaudited consolidated profit of RMB 164.5 million for the six months ended 30 June 2022. The expected unaudited consolidated loss for the Reporting Period was mainly attributable to (i) increases in impairment losses on certain long outstanding trade and other receivables and write- down of inventories from its TV/film production and investment business, and (ii) an increase in impairment losses on other receivables in relation to the acquisition of Olympic College primarily due to a change in fair value of Olympic College. However, the increases in impairment losses on trade and other receivables and write-down of inventories as mentioned in items (i) and (ii) above had no impact on the Group's cash and cash equivalents as at 30 June 2023. For the six month ended 30 June 2022, the Group recorded a gain from the disposal of the discontinued operation. Ankündigung • Aug 18
Cathay Media and Education Group Inc. to Report First Half, 2023 Results on Aug 29, 2023 Cathay Media and Education Group Inc. announced that they will report first half, 2023 results on Aug 29, 2023 Buying Opportunity • Aug 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be HK$1.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 24% per annum. Earnings is also forecast to grow by 43% per annum over the same time period. Board Change • Jul 08
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Dannis Lee was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Jun 28
Cathay Media and Education Group Inc. Announces Executive Changes The board of directors of Cathay Media and Education Group Inc. announced that Mr. Yan Xiang ("Mr. Yan") has tendered his resignation from an executive Director with effect from 27 June 2023 due to his desire to devote more time to the teaching duties and responsibilities of the Group's university, Communication University of China, Nanjing ("CUCN"). Mr. Yan will continue to serve as a professor at CUCN. Mr. Yan confirmed that he has no disagreement with the Board, and that he is not aware of any matter relating to his resignation as executive Director that needs to be brought to the attention of the shareholders of the Company (the "Shareholders"). Following the resignation of Mr. Yan, the Board announced that Ms. Jacqueline Luo ("Ms. Luo") has been appointed as an executive Director with effect from 27 June 2023. Ms. Luo is primarily responsible for strategic formulation and implementation of the Group's business plan and overall supervision on the development of the Group's livestreaming e-commerce business. She is the chairperson and a director of Huaxia Youpin (Beijing) Culture Communication Co. Ltd. (“Huaxia Youpin ") and a director of each of Nanjing Meiya Education Investment Co. Ltd. ("Nanjing Meiya") and CUCN. Huaxia Youpin, Nanjing Meiya and CUCN are consolidated affiliated entities of the Company. Ms. Luo, aged 43, has more than 14 years of management experience in media, entertainment, television/film production and education businesses. She has served as a vice president of Huaxia Audio-Visual Global Media (Beijing) Holdings Co. Ltd. since joining the Group in 2015 and a vice president of the Company since January 2017. Prior to joining the Group, Ms. Luo held a management position responsible for business strategy, sales and marketing in a private entertainment company. Ms. Luo graduated from California University, Fullerton, with a bachelor's degree in international business administration. Ms. Luo is the spouse of Mr. Pu Shulin ("Mr. Pu"), the founder of the Group, the chairperson of the Board, an executive Director and the chief executive officer of the Company. Buying Opportunity • Jun 23
Now 20% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be HK$1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings is also forecast to grow by 43% per annum over the same time period. Buying Opportunity • May 29
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be HK$1.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings is also forecast to grow by 43% per annum over the same time period. Price Target Changed • Apr 28
Price target increased by 42% to HK$2.09 Up from HK$1.47, the current price target is an average from 2 analysts. New target price is 34% above last closing price of HK$1.56. Stock is up 21% over the past year. The company is forecast to post earnings per share of CN¥0.14 for next year compared to CN¥0.032 last year. Major Estimate Revision • Apr 25
Consensus EPS estimates increase by 42%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from CN¥748.0m to CN¥707.0m. EPS estimate rose from CN¥0.10 to CN¥0.142. Net income forecast to grow 345% next year vs 240% growth forecast for Entertainment industry in Hong Kong. Consensus price target up from HK$1.47 to HK$2.09. Share price rose 5.1% to HK$1.45 over the past week. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.56, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Entertainment industry in Hong Kong. Total returns to shareholders of 41% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.73 per share. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to HK$1.30, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Entertainment industry in Hong Kong. Total returns to shareholders of 19% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.74 per share. Buying Opportunity • Mar 07
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be HK$1.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has declined by 57%. Revenue is forecast to grow by 34% in 2 years. Earnings is forecast to grow by 169% in the next 2 years. Buying Opportunity • Feb 15
Now 21% undervalued Over the last 90 days, the stock is up 9.6%. The fair value is estimated to be HK$1.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has declined by 57%. Revenue is forecast to grow by 57% in 2 years. Earnings is forecast to grow by 231% in the next 2 years. Buying Opportunity • Jan 30
Now 20% undervalued Over the last 90 days, the stock is up 30%. The fair value is estimated to be HK$1.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has declined by 57%. Revenue is forecast to grow by 57% in 2 years. Earnings is forecast to grow by 231% in the next 2 years. Buying Opportunity • Jan 12
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be HK$1.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has declined by 57%. Revenue is forecast to grow by 57% in 2 years. Earnings is forecast to grow by 231% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improved over the past week After last week's 17% share price gain to HK$1.25, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Total loss to shareholders of 25% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.72 per share. Recent Insider Transactions • Dec 02
Founder recently bought HK$803k worth of stock On the 28th of November, Shulin Pu bought around 774k shares on-market at roughly HK$1.04 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$2.2m. Shulin has been a buyer over the last 12 months, purchasing a net total of HK$15m worth in shares. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 21% share price gain to HK$1.31, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Total loss to shareholders of 59% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$1.81 per share. Price Target Changed • Nov 16
Price target increased to HK$2.49 Up from HK$2.17, the current price target is an average from 4 analysts. New target price is 122% above last closing price of HK$1.12. Stock is down 68% over the past year. The company is forecast to post earnings per share of CN¥0.18 for next year compared to CN¥0.067 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Dannis Lee was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 03
Founder recently bought HK$1.2m worth of stock On the 28th of October, Shulin Pu bought around 1m shares on-market at roughly HK$1.07 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$2.2m. Shulin has been a buyer over the last 12 months, purchasing a net total of HK$14m worth in shares. Board Change • Nov 01
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Dannis Lee was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.18, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Entertainment industry in Hong Kong. Total loss to shareholders of 80% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$2.28 per share. Upcoming Dividend • May 26
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 30 June 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 9.2%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (2.6%). Price Target Changed • Apr 27
Price target decreased to HK$2.17 Down from HK$2.77, the current price target is an average from 6 analysts. New target price is 79% above last closing price of HK$1.21. Stock is down 83% over the past year. The company is forecast to post earnings per share of CN¥0.18 for next year compared to CN¥0.067 last year. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Founder, CEO & Chairman Shulin Pu is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Dannis Lee was the last independent director to join the board, commencing their role in 2020. 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. Price Target Changed • Apr 06
Price target decreased to HK$3.88 Down from HK$5.04, the current price target is an average from 6 analysts. New target price is 194% above last closing price of HK$1.32. Stock is down 82% over the past year. The company is forecast to post earnings per share of CN¥0.17 for next year compared to CN¥0.067 last year. Reported Earnings • Apr 03
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.077 (down from CN¥0.23 in FY 2020). Revenue: CN¥578.1m (down 27% from FY 2020). Net income: CN¥111.2m (down 65% from FY 2020). Profit margin: 19% (down from 40% in FY 2020). Revenue missed analyst estimates by 47%. Earnings per share (EPS) also missed analyst estimates by 81%. Over the next year, revenue is forecast to grow 141%, compared to a 31% growth forecast for the industry in Hong Kong. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.49, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Total loss to shareholders of 80% over the past year. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$1.60, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Entertainment industry in Hong Kong. Total loss to shareholders of 78% over the past year. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorated over the past week After last week's 32% share price decline to HK$2.55, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Entertainment industry in Hong Kong. Total loss to shareholders of 51% over the past year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 19% share price gain to HK$3.49, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Total loss to shareholders of 27% over the past year. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 20% share price gain to HK$3.37, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Entertainment industry in Hong Kong. Total loss to shareholders of 25% over the past year. Reported Earnings • Oct 01
First half 2021 earnings released: EPS CN¥0.05 (vs CN¥0.098 in 1H 2020) The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: CN¥231.0m (down 40% from 1H 2020). Net income: CN¥82.9m (down 30% from 1H 2020). Profit margin: 36% (up from 31% in 1H 2020). Upcoming Dividend • Sep 27
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 04 October 2021. Payment date: 22 October 2021. Trailing yield: 2.9%. Lower than top quartile of Hong Kong dividend payers (6.8%). Lower than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$2.59, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Total loss to shareholders of 45% over the past year. Recent Insider Transactions • Sep 11
Founder recently bought HK$827k worth of stock On the 8th of September, Shulin Pu bought around 267k shares on-market at roughly HK$3.10 per share. In the last 3 months, they made an even bigger purchase worth HK$9.3m. Shulin has been a buyer over the last 12 months, purchasing a net total of HK$25m worth in shares. Reported Earnings • Sep 01
First half 2021 earnings released: EPS CN¥0.05 (vs CN¥0.098 in 1H 2020) The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: CN¥231.0m (down 40% from 1H 2020). Net income: CN¥82.9m (down 30% from 1H 2020). Profit margin: 36% (up from 31% in 1H 2020). 
