Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to HK$102, the stock trades at a trailing P/E ratio of 25.8x. Average forward P/E is 12x in the Electronic industry in Hong Kong. Total returns to shareholders of 462% over the past three years. Recent Insider Transactions • Jul 01
Chief Executive recently sold HK$256m worth of stock On the 24th of June, Wing Yiu Chang sold around 2m shares on-market at roughly HK$131 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth HK$624m. Wing Yiu has been a net seller over the last 12 months, reducing personal holdings by HK$292m. Recent Insider Transactions • Jun 26
Executive Director recently sold HK$624m worth of stock On the 18th of June, Kwong Kwan Cheung sold around 5m shares on-market at roughly HK$121 per share. This transaction amounted to 83% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$1.2b more than they bought in the last 12 months. Recent Insider Transactions • Jun 12
Board Member recently sold HK$7.5m worth of stock On the 8th of June, Yin Sang Ho sold around 109k shares on-market at roughly HK$68.91 per share. This transaction amounted to 6.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth HK$111m. Insiders have been net sellers, collectively disposing of HK$518m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to HK$89.30, the stock trades at a trailing P/E ratio of 22.5x. Average forward P/E is 14x in the Electronic industry in Hong Kong. Total returns to shareholders of 390% over the past three years. New Risk • Jun 09
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 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (289% cash payout ratio). Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (HK$460m sold). Upcoming Dividend • Jun 05
Upcoming dividend of HK$1.51 per share Eligible shareholders must have bought the stock before 11 June 2026. Payment date: 08 July 2026. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$65.55, the stock trades at a trailing P/E ratio of 16.5x. Average forward P/E is 14x in the Electronic industry in Hong Kong. Total returns to shareholders of 278% over the past three years. Declared Dividend • May 20
Final dividend of HK$1.51 announced Shareholders will receive a dividend of HK$1.51. Ex-date: 11th June 2026 Payment date: 8th July 2026 Dividend yield will be 4.0%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (289% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 50% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.4% EPS decline seen over the last 5 years. Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non-Executive Director Liyin Xu was the last independent director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Ankündigung • Mar 16
Kingboard Holdings Limited, Annual General Meeting, May 26, 2026 Kingboard Holdings Limited, Annual General Meeting, May 26, 2026. Ankündigung • Feb 24
Kingboard Holdings Limited to Report Fiscal Year 2025 Results on Mar 16, 2026 Kingboard Holdings Limited announced that they will report fiscal year 2025 results on Mar 16, 2026 Ankündigung • Oct 20
Kingboard Holdings Limited Announces Resignation of Chen Maosheng as an Executive Director with Effect from 17 October 2025 Kingboard Holdings Limited announced that Mr. Chen Maosheng, an Executive Director, has resigned from his directorship with effect from 17 October 2025 as he would like to devote more time to his other commitments. As at the date of this announcement, the Board of the Company consists of Messrs. Cheung Kwok Wing, Chang Wing Yiu, Cheung Kwong Kwan, Ho Yin Sang, Mr. Cheung Ka Shing, Ms. Ho Kin Fan and Mr. Chen Maosheng, being the executive directors and Messrs. Cheung Ming Man, Chong Kin Ki, Chan Wing Kee and Stanley Chung Wai Cheong, being the independent non-executive directors. Ankündigung • Jul 25
Kingboard Holdings Limited to Report First Half, 2025 Results on Aug 25, 2025 Kingboard Holdings Limited announced that they will report first half, 2025 results on Aug 25, 2025 Ankündigung • Feb 05
Kingboard Holdings Limited to Report Fiscal Year 2024 Results on Mar 24, 2025 Kingboard Holdings Limited announced that they will report fiscal year 2024 results on Mar 24, 2025 Recent Insider Transactions • Nov 13
Co-Founder & Executive Chairman recently bought HK$8.5m worth of stock On the 7th of November, Kwok Wing Cheung bought around 428k shares on-market at roughly HK$19.75 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$53m worth in shares. Recent Insider Transactions • Oct 30
Co-Founder & Executive Chairman recently bought HK$970k worth of stock On the 25th of October, Kwok Wing Cheung bought around 50k shares on-market at roughly HK$19.40 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$4.8m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$44m worth in shares. Recent Insider Transactions • Oct 22
Co-Founder & Executive Chairman recently bought HK$1.9m worth of stock On the 18th of October, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$18.69 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$4.8m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$43m worth in shares. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$19.50, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 11x in the Electronic industry in Hong Kong. Total loss to shareholders of 34% over the past three years. Recent Insider Transactions • Oct 05
Co-Founder & Executive Chairman recently bought HK$1.0m worth of stock On the 2nd of October, Kwok Wing Cheung bought around 50k shares on-market at roughly HK$20.60 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$4.8m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$45m worth in shares. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$18.74, the stock trades at a trailing P/E ratio of 9.5x. Average forward P/E is 9x in the Electronic industry in Hong Kong. Total loss to shareholders of 36% over the past three years. Recent Insider Transactions • Sep 11
Co-Founder & Executive Chairman recently bought HK$937k worth of stock On the 9th of September, Kwok Wing Cheung bought around 63k shares on-market at roughly HK$14.88 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. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$53m worth in shares. Declared Dividend • Aug 28
First half dividend of HK$0.40 announced Shareholders will receive a dividend of HK$0.40. Ex-date: 13th December 2024 Payment date: 8th January 2025 Dividend yield will be 4.8%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (45% 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. The company's earnings per share (EPS) would need to decline by 57% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.8% EPS decline seen over the last 5 years. Reported Earnings • Aug 27
First half 2024 earnings released: EPS: HK$1.36 (vs HK$1.25 in 1H 2023) First half 2024 results: EPS: HK$1.36 (up from HK$1.25 in 1H 2023). Revenue: HK$20.4b (up 9.1% from 1H 2023). Net income: HK$1.51b (up 8.4% from 1H 2023). Profit margin: 7.4% (in line with 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Ankündigung • Aug 26
Kingboard Holdings Limited Announces Interim Cash Dividend for the Six Months Ended June 30, 2024, Payable on 08 January 2025 Kingboard Holdings Limited announced cash interim dividend of HKD 0.4 per share for the six months ended June 30, 2024. Ex-dividend date is 13 December 2024. Record date is 18 December 2024. Payment date is 08 January 2025. Ankündigung • Aug 02
Kingboard Holdings Limited to Report First Half, 2024 Results on Aug 26, 2024 Kingboard Holdings Limited announced that they will report first half, 2024 results on Aug 26, 2024 Buy Or Sell Opportunity • Jun 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to HK$18.86. The fair value is estimated to be HK$15.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 37%. Recent Insider Transactions • Jun 11
Co-Founder & Executive Chairman recently bought HK$995k worth of stock On the 5th of June, Kwok Wing Cheung bought around 51k shares on-market at roughly HK$19.50 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$5.1m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$76m worth in shares. Upcoming Dividend • Jun 05
Upcoming dividend of HK$0.36 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 28% and the cash payout ratio is 90%. Trailing yield: 2.7%. Lower than top quartile of Hong Kong dividend payers (7.6%). Lower than average of industry peers (3.1%). Buy Or Sell Opportunity • May 06
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to HK$19.92. The fair value is estimated to be HK$15.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 37%. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$17.28, the stock trades at a trailing P/E ratio of 9.3x. Average forward P/E is 10x in the Electronic industry in Hong Kong. Total loss to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$15.33 per share. Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: HK$1.86 (vs HK$3.30 in FY 2022) Full year 2023 results: EPS: HK$1.86 (down from HK$3.30 in FY 2022). Revenue: HK$39.7b (down 20% from FY 2022). Net income: HK$2.06b (down 44% from FY 2022). Profit margin: 5.2% (down from 7.4% in FY 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Apr 11
Co-Founder & Executive Chairman recently bought HK$1.8m worth of stock On the 8th of April, Kwok Wing Cheung bought around 113k shares on-market at roughly HK$15.66 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$2.6m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$63m worth in shares. Recent Insider Transactions • Mar 22
Co-Founder & Executive Chairman recently bought HK$2.6m worth of stock On the 20th of March, Kwok Wing Cheung bought around 150k shares on-market at roughly HK$17.11 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$59m worth in shares. Ankündigung • Mar 20
Kingboard Holdings Limited, Annual General Meeting, May 27, 2024 Kingboard Holdings Limited, Annual General Meeting, May 27, 2024. Agenda: To consider the final dividend of HK36 cents per share. Declared Dividend • Mar 20
Final dividend of HK$0.36 announced Shareholders will receive a dividend of HK$0.36. Ex-date: 12th June 2024 Payment date: 5th July 2024 Dividend yield will be 6.5%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 69% to shift the payout ratio to a potentially unsustainable range, which is more than the 20% EPS decline seen over the last 5 years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: HK$1.86 (vs HK$3.30 in FY 2022) Full year 2023 results: EPS: HK$1.86 (down from HK$3.30 in FY 2022). Revenue: HK$39.7b (down 20% from FY 2022). Net income: HK$2.06b (down 44% from FY 2022). Profit margin: 5.2% (down from 7.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Ankündigung • Feb 27
Kingboard Holdings Limited to Report Fiscal Year 2023 Results on Mar 18, 2024 Kingboard Holdings Limited announced that they will report fiscal year 2023 results on Mar 18, 2024 Ankündigung • Feb 20
Kingboard Holdings Limited Provides Unaudited Earnings Guidance for the Year Ended 31 December 2023 Kingboard Holdings Limited provided unaudited earnings guidance for the year ended December 31, 2023. For the period, the Group is expecting to record a net profit of not less than HKD 2.02 billion for the year ended 31 December 2023, representing a decrease in net profit of not more than 45% as compared with the corresponding period in 2022. The expected decrease in the net profits of the Group for the year ended 31 December 2023 is primarily attributable to (1) the decrease in unit selling price in the market of the laminates products and chemicals products of the Group, (2) the allowance for credit loss of a loan to Country Garden Holdings Limited made by the Group, and (3) the allowance for impairment loss for the unsold residential properties in Eastern China held by the Group. Recent Insider Transactions • Dec 30
Co-Founder & Executive Chairman recently bought HK$1.8m worth of stock On the 27th of December, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$18.34 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$4.2m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$56m worth in shares. Recent Insider Transactions • Dec 09
Co-Founder & Executive Chairman recently bought HK$1.8m worth of stock On the 6th of December, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$18.30 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$5.6m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$56m worth in shares. Upcoming Dividend • Dec 05
Upcoming dividend of HK$0.66 per share at 5.0% yield Eligible shareholders must have bought the stock before 12 December 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 5.0%. Lower than top quartile of Hong Kong dividend payers (8.5%). Higher than average of industry peers (3.6%). Recent Insider Transactions • Nov 16
Co-Founder & Executive Chairman recently bought HK$1.8m worth of stock On the 10th of November, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$18.42 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$5.6m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$54m worth in shares. Recent Insider Transactions • Oct 06
Co-Founder & Executive Chairman recently bought HK$2.4m worth of stock On the 3rd of October, Kwok Wing Cheung bought around 144k shares on-market at roughly HK$16.73 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$5.6m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$46m worth in shares. Recent Insider Transactions • Sep 02
Co-Founder & Executive Chairman recently bought HK$2.6m worth of stock On the 29th of August, Kwok Wing Cheung bought around 150k shares on-market at roughly HK$17.62 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$5.5m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$16m worth in shares. Reported Earnings • Aug 29
First half 2023 earnings released: EPS: HK$1.25 (vs HK$2.17 in 1H 2022) First half 2023 results: EPS: HK$1.25 (down from HK$2.17 in 1H 2022). Revenue: HK$18.7b (down 33% from 1H 2022). Net income: HK$1.39b (down 42% from 1H 2022). Profit margin: 7.4% (down from 8.7% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electronic 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 10% per year, which means it is performing significantly worse than earnings. Ankündigung • Aug 04
Kingboard Holdings Limited to Report First Half, 2023 Results on Aug 28, 2023 Kingboard Holdings Limited announced that they will report first half, 2023 results on Aug 28, 2023 New Risk • Jul 10
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: HK$22m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.4% net profit margin). Significant insider selling over the past 3 months (HK$22m sold). Recent Insider Transactions • Jul 08
Co-Founder & Executive Chairman recently bought HK$836k worth of stock On the 5th of July, Kwok Wing Cheung bought around 38k shares on-market at roughly HK$22.28 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$5.5m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$13m worth in shares. Recent Insider Transactions • Jul 01
Co-Founder & Executive Chairman recently bought HK$5.5m worth of stock On the 27th of June, Kwok Wing Cheung bought around 268k shares on-market at roughly HK$20.58 per share. This transaction amounted to 5.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$12m worth in shares. Recent Insider Transactions • Jun 13
Co-Founder & Executive Chairman recently bought HK$877k worth of stock On the 7th of June, Kwok Wing Cheung bought around 40k shares on-market at roughly HK$21.93 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$1.4m. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$15m. Upcoming Dividend • Jun 07
Upcoming dividend of HK$0.75 per share at 4.8% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.4%). Recent Insider Transactions • Jun 02
Co-Founder & Executive Chairman recently bought HK$644k worth of stock On the 31st of May, Kwok Wing Cheung bought around 30k shares on-market at roughly HK$21.45 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$1.4m. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$16m. Recent Insider Transactions • May 16
Co-Founder & Executive Chairman recently bought HK$1.4m worth of stock On the 12th of May, Kwok Wing Cheung bought around 60k shares on-market at roughly HK$23.17 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$17m. Recent Insider Transactions • Apr 12
Co-Founder & Executive Chairman recently bought HK$1.2m worth of stock On the 6th of April, Kwok Wing Cheung bought around 50k shares on-market at roughly HK$23.30 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$17m. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: HK$3.30 (vs HK$9.73 in FY 2021) Full year 2022 results: EPS: HK$3.30 (down from HK$9.73 in FY 2021). Revenue: HK$49.4b (down 13% from FY 2021). Net income: HK$3.66b (down 66% from FY 2021). Profit margin: 7.4% (down from 19% in FY 2021). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 10
Kingboard Holdings Limited Provides Earnings Guidance for the Year Ended 31 December 2022 Kingboard Holdings Limited provided earnings guidance for the year ended 31 December 2022. The Group is expecting to record a net profit of approximately HKD 3.9 billion to HKD 4.5 billion for the year ended 31 December 2022, a decrease in net profit of approximately 58% to 64% as compared with the corresponding period in 2021. The expected decrease in the net profits of the Group for the year ended 31 December 2022 is primarily attributable to the decrease in both unit selling price and quantity of the laminates products, and the drop from high level in unit selling price of chemicals products manufactured and sold by the Group, and the allowance for credit loss of bonds investments held by the Group. Upcoming Dividend • Nov 29
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 06 December 2022. Payment date: 06 January 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Hong Kong dividend payers (9.0%). Higher than average of industry peers (6.0%). Board Change • Nov 16
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. 7 non-independent directors. Independent Non-Executive Director Stanley Chung 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. Reported Earnings • Aug 30
First half 2022 earnings released: EPS: HK$2.17 (vs HK$4.57 in 1H 2021) First half 2022 results: EPS: HK$2.17 (down from HK$4.57 in 1H 2021). Revenue: HK$27.8b (up 4.2% from 1H 2021). Net income: HK$2.41b (down 52% from 1H 2021). Profit margin: 8.7% (down from 19% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 4.7% compared to a 7.6% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 25
Co-Founder & Executive Chairman recently sold HK$7.5m worth of stock On the 16th of June, Kwok Wing Cheung sold around 221k shares on-market at roughly HK$34.00 per share. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$50m worth of shares. Recent Insider Transactions • Jun 22
Co-Founder & Executive Chairman recently sold HK$7.5m worth of stock On the 16th of June, Kwok Wing Cheung sold around 221k shares on-market at roughly HK$34.00 per share. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$50m worth of shares. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$31.80, the stock trades at a trailing P/E ratio of 3.3x. Average forward P/E is 7x in the Electronic industry in Hong Kong. Total returns to shareholders of 93% over the past three years. Upcoming Dividend • Jun 08
Upcoming dividend of HK$2.44 per share Eligible shareholders must have bought the stock before 15 June 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 7.8%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (4.8%). Recent Insider Transactions • May 05
Co-Founder & Executive Chairman recently bought HK$674k worth of stock On the 3rd of May, Kwok Wing Cheung bought around 19k shares on-market at roughly HK$35.45 per share. In the last 3 months, there was an even bigger purchase from another insider worth HK$8.2m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$56m worth in shares. Recent Insider Transactions • Apr 27
Board Member recently bought HK$3.7m worth of stock On the 19th of April, Yin Sang Ho bought around 100k shares on-market at roughly HK$36.67 per share. In the last 3 months, they made an even bigger purchase worth HK$8.2m. Despite this recent purchase, insiders have collectively sold HK$118m more in shares than they bought in the last 12 months. Board Change • Apr 27
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. 7 non-independent directors. Independent Non-Executive Director Stanley Chung 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 • Mar 24
Board Member recently bought HK$8.2m worth of stock On the 18th of March, Yin Sang Ho bought around 218k shares on-market at roughly HK$37.83 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold HK$257m more in shares than they bought in the last 12 months. Recent Insider Transactions • Jan 08
Chief Executive recently bought HK$982k worth of stock On the 6th of January, Wing Yiu Chang bought around 27k shares on-market at roughly HK$36.38 per share. In the last 3 months, there was an even bigger purchase from another insider worth HK$34m. Wing Yiu has been a buyer over the last 12 months, purchasing a net total of HK$11m worth in shares. Recent Insider Transactions • Dec 09
Co-Founder & Executive Chairman recently bought HK$3.9m worth of stock On the 6th of December, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$38.50 per share. In the last 3 months, there was an even bigger purchase from another insider worth HK$34m. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$66m. Upcoming Dividend • Nov 30
Upcoming dividend of HK$0.56 per share Eligible shareholders must have bought the stock before 07 December 2021. Payment date: 07 January 2022. Trailing yield: 6.5%. Lower than top quartile of Hong Kong dividend payers (7.1%). Higher than average of industry peers (3.0%). Recent Insider Transactions • Nov 27
Co-Founder & Executive Chairman recently bought HK$418k worth of stock On the 25th of November, Kwok Wing Cheung bought around 10k shares on-market at roughly HK$41.75 per share. In the last 3 months, there was an even bigger purchase from another insider worth HK$34m. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$64m. Recent Insider Transactions • Oct 29
Co-Founder & Executive Chairman recently bought HK$3.4m worth of stock On the 27th of October, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$34.26 per share. In the last 3 months, they made an even bigger purchase worth HK$8.7m. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$74m. Executive Departure • Oct 06
Executive Director Wai Lin Cheung has left the company On the 1st of October, Wai Lin Cheung's tenure as Executive Director ended after 14.7 years in the role. As of June 2021, Wai Lin still personally held 694.00k shares (HK$30m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 10.75 years. Recent Insider Transactions • Sep 22
Co-Founder & Executive Chairman recently bought HK$3.5m worth of stock On the 20th of September, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$34.80 per share. In the last 3 months, they made an even bigger purchase worth HK$8.7m. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$82m. Recent Insider Transactions • Sep 03
Co-Founder & Executive Chairman recently bought HK$1.5m worth of stock On the 31st of August, Kwok Wing Cheung bought around 40k shares on-market at roughly HK$37.90 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$101m. Reported Earnings • Sep 02
First half 2021 earnings released: EPS HK$4.57 (vs HK$0.96 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$26.7b (up 34% from 1H 2020). Net income: HK$5.06b (up 378% from 1H 2020). Profit margin: 19% (up from 5.3% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jul 28
Independent Non-Executive Director recently bought HK$405k worth of stock On the 26th of July, Kin Ki Chong bought around 10k shares on-market at roughly HK$40.50 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold HK$314m more in shares than they bought in the last 12 months. Recent Insider Transactions • Jul 20
Board Member recently sold HK$8.8m worth of stock On the 15th of July, Yin Sang Ho sold around 200k shares on-market at roughly HK$44.00 per share. In the last 3 months, they made an even bigger sale worth HK$28m. Insiders have been net sellers, collectively disposing of HK$315m more than they bought in the last 12 months. Recent Insider Transactions • Jul 01
Board Member recently sold HK$28m worth of stock On the 24th of June, Yin Sang Ho sold around 627k shares on-market at roughly HK$44.65 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$54m. Insiders have been net sellers, collectively disposing of HK$250m more than they bought in the last 12 months. Recent Insider Transactions • Jun 11
Board Member recently sold HK$17m worth of stock On the 8th of June, Yin Sang Ho sold around 385k shares on-market at roughly HK$43.70 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$54m. Insiders have been net sellers, collectively disposing of HK$180m more than they bought in the last 12 months. Recent Insider Transactions • May 29
Board Member recently sold HK$21m worth of stock On the 27th of May, Yin Sang Ho sold around 500k shares on-market at roughly HK$42.75 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$54m. Insiders have been net sellers, collectively disposing of HK$142m more than they bought in the last 12 months. Upcoming Dividend • May 19
Upcoming dividend of HK$2.00 per share Eligible shareholders must have bought the stock before 26 May 2021. Payment date: 11 June 2021. Trailing yield: 5.1%. Lower than top quartile of Hong Kong dividend payers (5.9%). Higher than average of industry peers (4.2%). Recent Insider Transactions • May 12
Independent Non-Executive Director recently sold HK$917k worth of stock On the 7th of May, Kin Ki Chong sold around 20k shares on-market at roughly HK$45.85 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$54m. Insiders have been net sellers, collectively disposing of HK$88m more than they bought in the last 12 months. Recent Insider Transactions • Apr 28
Board Member recently bought HK$8.4m worth of stock On the 23rd of April, Yin Sang Ho bought around 200k shares on-market at roughly HK$42.25 per share. In the last 3 months, they made an even bigger purchase worth HK$19m. Despite this recent purchase, insiders have collectively sold HK$84m more in shares than they bought in the last 12 months. Reported Earnings • Apr 21
Full year 2020 earnings released: EPS HK$4.26 (vs HK$2.85 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$43.5b (up 5.7% from FY 2019). Net income: HK$4.70b (up 52% from FY 2019). Profit margin: 11% (up from 7.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Recent Insider Transactions • Apr 11
Independent Non-Executive Director recently sold HK$1.8m worth of stock On the 7th of April, Kin Ki Chong sold around 40k shares on-market at roughly HK$44.07 per share. In the last 3 months, there was an even bigger sale from another insider worth HK$12m. Despite this recent sale, insiders have collectively bought HK$30m more than they sold in the last 12 months. Recent Insider Transactions • Mar 25
Board Member recently bought HK$19m worth of stock On the 22nd of March, Yin Sang Ho bought around 500k shares on-market at roughly HK$37.60 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$59m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS HK$4.26 (vs HK$2.85 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$43.5b (up 5.7% from FY 2019). Net income: HK$4.70b (up 52% from FY 2019). Profit margin: 11% (up from 7.5% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 17
New 90-day high: HK$36.60 The company is up 31% from its price of HK$27.95 on 19 November 2020. The Hong Kong market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 33% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: HK$30.85 The company is up 21% from its price of HK$25.50 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 15% over the same period. Recent Insider Transactions • Dec 03
Co-Founder & Executive Chairman recently bought HK$1.5m worth of stock On the 30th of November, Kwok Wing Cheung bought around 52k shares on-market at roughly HK$29.50 per share. In the last 3 months, they made an even bigger purchase worth HK$5.4m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$59m worth in shares. Is New 90 Day High Low • Nov 24
New 90-day high: HK$29.60 The company is up 29% from its price of HK$23.00 on 26 August 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 10.0% over the same period. 
