New Risk • Feb 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 55% per year over the past 5 years. Market cap is less than US$10m (HK$72.0m market cap, or US$9.20m). Board Change • Jan 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Yiu Chung Kwok was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Nov 07
MS Concept Limited to Report First Half, 2026 Results on Nov 18, 2025 MS Concept Limited announced that they will report first half, 2026 results on Nov 18, 2025 New Risk • Aug 12
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 13% 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 Risks Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (HK$44.0m market cap, or US$5.61m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Reported Earnings • Jun 25
Full year 2025 earnings released: HK$0.017 loss per share (vs HK$0.019 loss in FY 2024) Full year 2025 results: HK$0.017 loss per share (improved from HK$0.019 loss in FY 2024). Revenue: HK$253.5m (up 12% from FY 2024). Net loss: HK$17.2m (loss narrowed 7.6% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Annonce • Jun 25
MS Concept Limited, Annual General Meeting, Aug 01, 2025 MS Concept Limited, Annual General Meeting, Aug 01, 2025, at 11:00 China Standard Time. Location: training room 1, level 3, core f, cyberport 3, 100 cyberport road, Hong Kong Annonce • Jun 12
MS Concept Limited to Report Fiscal Year 2025 Results on Jun 24, 2025 MS Concept Limited announced that they will report fiscal year 2025 results on Jun 24, 2025 New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 73% per year over the past 5 years. Market cap is less than US$10m (HK$32.0m market cap, or US$4.08m). Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Annonce • Oct 31
MS Concept Limited to Report First Half, 2025 Results on Nov 08, 2024 MS Concept Limited announced that they will report first half, 2025 results on Nov 08, 2024 Buy Or Sell Opportunity • Oct 25
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to HK$0.038. The fair value is estimated to be HK$0.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to HK$0.04. The fair value is estimated to be HK$0.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 04
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at HK$0.039. The fair value is estimated to be HK$0.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.0% to HK$0.04. The fair value is estimated to be HK$0.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jun 23
Full year 2024 earnings released: HK$0.019 loss per share (vs HK$0.004 profit in FY 2023) Full year 2024 results: HK$0.019 loss per share (down from HK$0.004 profit in FY 2023). Revenue: HK$225.7m (down 9.9% from FY 2023). Net loss: HK$18.6m (down HK$22.6m from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Annonce • Jun 22
MS Concept Limited, Annual General Meeting, Aug 02, 2024 MS Concept Limited, Annual General Meeting, Aug 02, 2024, at 11:00 China Standard Time. Location: training room 1, level 3, core f, cyberport 3, 100 cyberport road, Hong Kong New Risk • Jun 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% 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 Risks Earnings have declined by 1.4% per year over the past 5 years. Market cap is less than US$10m (HK$49.0m market cap, or US$6.28m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Annonce • Jun 13
MS Concept Limited to Report Fiscal Year 2024 Results on Jun 21, 2024 MS Concept Limited announced that they will report fiscal year 2024 results on Jun 21, 2024 New Risk • May 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.4% per year over the past 5 years. Market cap is less than US$10m (HK$40.0m market cap, or US$5.12m). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Earnings have declined by 1.4% per year over the past 5 years. Market cap is less than US$10m (HK$41.0m market cap, or US$5.26m). Annonce • Oct 31
MS Concept Limited to Report First Half, 2024 Results on Nov 10, 2023 MS Concept Limited announced that they will report first half, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: HK$0 (vs HK$0.004 in 1Q 2023) First quarter 2024 results: EPS: HK$0 (down from HK$0.004 in 1Q 2023). Revenue: HK$56.9m (up 4.2% from 1Q 2023). Net loss: HK$1.70m (down 142% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Annonce • Aug 01
MS Concept Limited to Report Q1, 2024 Results on Aug 10, 2023 MS Concept Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Annonce • Jun 29
MS Concept Limited, Annual General Meeting, Jul 28, 2023 MS Concept Limited, Annual General Meeting, Jul 28, 2023, at 11:00 China Standard Time. Location: Training Room 1, Level 3, Core F, Cyberport 3, 100 Cyberport Road Cyberport Hong Kong Agenda: To consider and receive the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and independent auditors of the Company for the year ended 31 March 2023; to consider re-elect Mr. Lai Ming Fai Desmond as an independent non-executive director of the Company; to consider re-elect Mr. Kwok Yiu Chung as an independent non-executive director of the Company; to consider authorise the board of directors of the Company to fix the remuneration of the directors of the Company for the year ending 31 March 2024; to consider re-appoint HLB Hodgson Impey Cheng Limited as the independent auditors of the Company and authorise the Board to fix its remuneration; and to consider other matters. New Risk • Jun 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 325% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (HK$80.0m market cap, or US$10.2m). New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 13% 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 Market cap is less than US$10m (HK$77.0m market cap, or US$9.83m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Reported Earnings • Jun 14
Full year 2023 earnings released: EPS: HK$0.004 (vs HK$0.005 loss in FY 2022) Full year 2023 results: EPS: HK$0.004 (up from HK$0.005 loss in FY 2022). Revenue: HK$250.4m (up 24% from FY 2022). Net income: HK$3.97m (up HK$8.86m from FY 2022). Profit margin: 1.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jun 02
MS Concept Limited to Report Fiscal Year 2023 Results on Jun 13, 2023 MS Concept Limited announced that they will report fiscal year 2023 results at 4:00 PM, China Standard Time on Jun 13, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: HK$0.003 (vs HK$0.001 in 3Q 2022) Third quarter 2023 results: EPS: HK$0.003 (up from HK$0.001 in 3Q 2022). Revenue: HK$69.1m (up 8.8% from 3Q 2022). Net income: HK$3.04m (up 313% from 3Q 2022). Profit margin: 4.4% (up from 1.2% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annonce • Feb 01
MS Concept Limited to Report Nine Months, 2023 Results on Feb 10, 2023 MS Concept Limited announced that they will report nine months, 2023 results on Feb 10, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: HK$0.002 (vs HK$0.003 in 2Q 2022) Second quarter 2023 results: EPS: HK$0.002 (down from HK$0.003 in 2Q 2022). Revenue: HK$66.2m (up 1.5% from 2Q 2022). Net income: HK$1.66m (down 42% from 2Q 2022). Profit margin: 2.5% (down from 4.4% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Lee Lung Cheng was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Nov 03
MS Concept Limited to Report First Half, 2023 Results on Nov 14, 2022 MS Concept Limited announced that they will report first half, 2023 results on Nov 14, 2022 Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: HK$0.004 (vs HK$0.001 in 1Q 2022) First quarter 2023 results: EPS: HK$0.004 (up from HK$0.001 in 1Q 2022). Revenue: HK$54.6m (down 2.8% from 1Q 2022). Net income: HK$4.05m (up 482% from 1Q 2022). Profit margin: 7.4% (up from 1.2% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Annonce • Jul 30
MS Concept Limited to Report Q1, 2023 Results on Aug 10, 2022 MS Concept Limited announced that they will report Q1, 2023 results on Aug 10, 2022 Annonce • Jun 30
MS Concept Limited, Annual General Meeting, Aug 02, 2022 MS Concept Limited, Annual General Meeting, Aug 02, 2022, at 11:00 China Standard Time. Location: Training Room 1,Level 3, Core F, Cyberport 3, 100 Cyberport Road Cyberport Hong Kong Agenda: To consider and receive the audited consolidated financial statements of the company and its subsidiaries and the reports of the directors and independent auditors of the company for the year ended 31 March 2022; to re-elect Ms. Kwong Man Yui as an executive director of the company; to re-elect Dr. Cheng Lee Lung as an independent non-executive director of the company; to authorise the board of directors of the company to fix the remuneration of the directors of the company for the year ending 31 March 2023; to re-appoint HLB Hodgson Impey Cheng Limited as the independent auditors of the company and authorise the Board to fix its remuneration; and to consider others. Reported Earnings • Jun 26
Full year 2022 earnings released: HK$0.005 loss per share (vs HK$0.004 profit in FY 2021) Full year 2022 results: HK$0.005 loss per share (down from HK$0.004 profit in FY 2021). Revenue: HK$202.8m (up 18% from FY 2021). Net loss: HK$4.90m (down 228% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Annonce • Jun 18
MS Concept Limited Provides Earning Guidance for the Year Ended 31 March 2022 MS Concept Limited provided earning guidance for the year ended 31 March 2022. After preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 March 2022 and assessment of the information currently available, the board (the "Board") of directors of the Company wishes to inform the shareholders of the Company and potential investors that the Group is expected to record an unaudited consolidated loss ofnot more than HK$5.0 million for the Year as compared to the audited consolidated profit of HKD 3.8 million in last year. To the best knowledge of the Directors, the unaudited consolidated loss for the Year was mainly attributable to (a) the outbreak of fifth wave of COVID-19 pandemic in Hong Kong since January 2022 (as explained below); (b) the decrease in government subsidies received during the Year; and (c) the decrease in rent concession granted by landlords during the Year. During the nine months ended 31 December 2021 (the "Period"), the Hong Kong Government relaxed the social distancing measures and overall customer sentiment improved due to the decrease in number of COVID-19 cases. Combined with the launch of Consumption Voucher Scheme by Hong Kong Government since August 2021, the number of customer visits of restaurants increased and the turnover for the Periodincreased accordingly. However, the outbreak of fifth wave of COVID-19 pandemic in Hong Kong since January 2022 caused the Hong Kong Government to relaunch the stringent regulatory restrictions on social distancing applicable to the catering business, negatively impacting the number of customer visits to restaurants and affected the Group's overall profitability during January to March 2022 correspondingly. Annonce • Jun 03
MS Concept Limited to Report Fiscal Year 2022 Results on Jun 15, 2022 MS Concept Limited announced that they will report fiscal year 2022 results on Jun 15, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Lee Lung Cheng was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Lee Lung Cheng was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jan 30
MS Concept Limited Provides Preliminary Consolidated Earnings Guidance for the Nine Months Ended 31 December 2021 MS Concept Limited provided preliminary consolidated earnings guidance for the nine months ended 31 December 2021. After preliminary review of the unaudited consolidated management accounts of the Group for the nine months ended 31 December 2021 and assessment of the information currently available, the board of directors of the Company wishes to inform the shareholders of the Company and potential investors that the Group is expected to record a decrease in consolidated profit for the Period of not less than 30% as compared to the consolidated profit of corresponding period in last year. During the Period, the overall Hong Kong market has less number of confirmed COVID-19 cases in the community. The Hong Kong Government relaxed the social distancing measures and overall customer sentiment is improving. The number of customer visits of the company's restaurants increased and the turnover for the Period increased by not less than 30% as compared to the turnover of corresponding period in last year. The Group recorded a profit before taxation for the Period of not more than HKD 6.0 million, as compared to the loss before taxation recorded for the corresponding period in last year after exclusion of one-off and non-recurring items as mentioned above. Reported Earnings • Nov 13
Second quarter 2022 earnings released: EPS HK$0.003 (vs HK$0.002 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: HK$65.2m (up 77% from 2Q 2021). Net income: HK$2.86m (up HK$4.70m from 2Q 2021). Profit margin: 4.4% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS HK$0.001 (vs HK$0.005 in 1Q 2021) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: HK$56.2m (up 21% from 1Q 2021). Net income: HK$696.0k (down 85% from 1Q 2021). Profit margin: 1.2% (down from 10% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 20
Full year 2021 earnings released: EPS HK$0.004 (vs HK$0.003 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: HK$172.6m (down 24% from FY 2020). Net income: HK$3.81m (up HK$6.69m from FY 2020). Profit margin: 2.2% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS HK$0.003 (vs HK$0.002 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: HK$50.3m (down 20% from 3Q 2020). Net income: HK$3.31m (up 68% from 3Q 2020). Profit margin: 6.6% (up from 3.1% in 3Q 2020). The increase in margin was driven by lower expenses. Annonce • Jan 26
MS Concept Limited to Report Nine Months, 2021 Results on Feb 05, 2021 MS Concept Limited announced that they will report nine months, 2021 results on Feb 05, 2021 Reported Earnings • Nov 15
Second quarter 2021 earnings released: HK$0.002 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: HK$36.8m (down 40% from 2Q 2020). Net loss: HK$1.84m (down HK$2.29m from profit in 2Q 2020). Annonce • Nov 03
MS Concept Limited to Report First Half, 2021 Results on Nov 12, 2020 MS Concept Limited announced that they will report first half, 2021 results on Nov 12, 2020 
