New Risk • May 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$750.0m (US$95.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 62% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$750.0m market cap, or US$95.8m). Reported Earnings • Apr 28
Full year 2025 earnings released: EPS: HK$0.016 (vs HK$0.002 in FY 2024) Full year 2025 results: EPS: HK$0.016 (up from HK$0.002 in FY 2024). Revenue: HK$733.9m (up 13% from FY 2024). Net income: HK$8.14m (up HK$7.19m from FY 2024). Profit margin: 1.1% (up from 0.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Chi Wai Suen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 01
Full year 2025 earnings released: EPS: HK$0.016 (vs HK$0.002 in FY 2024) Full year 2025 results: EPS: HK$0.016 (up from HK$0.002 in FY 2024). Revenue: HK$733.9m (up 13% from FY 2024). Net income: HK$8.14m (up HK$7.19m from FY 2024). Profit margin: 1.1% (up from 0.1% in FY 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Annonce • Mar 31
BoardWare Intelligence Technology Limited, Annual General Meeting, Jun 18, 2026 BoardWare Intelligence Technology Limited, Annual General Meeting, Jun 18, 2026. Annonce • Mar 18
BoardWare Intelligence Technology Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 BoardWare Intelligence Technology Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Board Change • Feb 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Chi Wai Suen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Chi Wai Suen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Sep 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to HK$1.38. The fair value is estimated to be HK$1.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 106%. Reported Earnings • Aug 31
First half 2025 earnings released: EPS: HK$0.002 (vs HK$0.002 in 1H 2024) First half 2025 results: EPS: HK$0.002 (in line with 1H 2024). Revenue: HK$321.4m (up 1.0% from 1H 2024). Net income: HK$785.0k (down 24% from 1H 2024). Profit margin: 0.2% (down from 0.3% in 1H 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Annonce • Aug 18
BoardWare Intelligence Technology Limited to Report First Half, 2025 Results on Aug 28, 2025 BoardWare Intelligence Technology Limited announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • Jul 25
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 Risk Earnings have declined by 60% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (0.1% net profit margin). Annonce • Jul 03
Boardware Intelligence Technology Limited Announces Board and Committee Changes, Effective from 1 July 2025 BoardWare Intelligence Technology Limited announced Ms. Lei Sok Han ("Ms. Lei") has tendered her resignation as the executive Director with effect from 1 July 2025 as she would like to devote more time to her other personal commitments. The Board further announces that with effect from 1 July 2025, Ms. Chiu Koon Chi ("Ms. Chiu"), currently the executive Director, and Dr. U Seng Pan ("Dr. U"), currently the independent non-executive Director, will be appointed as a member of the nomination committee of the Company (the "Nomination Committee"). After the above changes, the Nomination Committee will be composed of two executive Directors, namely, Mr. Chao Ka Chon and Ms. Chiu, and three independent non-executive Directors, namely, Mr. Man Wing Pong ("Mr. Man"), Mr. Suen Chi Wai ("Mr. Suen") and Dr. U. Mr. Suen is the chairman of the Nomination Committee. The Board further announces that Mr. Man, an independent non-executive Director, has been designated the position of the lead independent non-executive Director (the "Lead INED")
with effect from 1 July 2025. Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: HK$0.002 (vs HK$0.009 in FY 2023) Full year 2024 results: EPS: HK$0.002 (down from HK$0.009 in FY 2023). Revenue: HK$648.0m (down 9.7% from FY 2023). Net income: HK$952.0k (down 79% from FY 2023). Profit margin: 0.1% (down from 0.6% in FY 2023). The decrease in margin was driven by lower revenue. New Risk • Mar 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$750.0m (US$96.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 60% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (HK$750.0m market cap, or US$96.4m). Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: HK$0.002 (vs HK$0.009 in FY 2023) Full year 2024 results: EPS: HK$0.002 (down from HK$0.009 in FY 2023). Revenue: HK$648.0m (down 9.7% from FY 2023). Net income: HK$952.0k (down 79% from FY 2023). Profit margin: 0.1% (down from 0.6% in FY 2023). The decrease in margin was driven by lower revenue. Annonce • Mar 29
BoardWare Intelligence Technology Limited, Annual General Meeting, Jun 20, 2025 BoardWare Intelligence Technology Limited, Annual General Meeting, Jun 20, 2025. Annonce • Mar 18
BoardWare Intelligence Technology Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 BoardWare Intelligence Technology Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 28, 2025 Reported Earnings • Sep 26
First half 2024 earnings released: EPS: HK$0.002 (vs HK$0.002 in 1H 2023) First half 2024 results: EPS: HK$0.002 (in line with 1H 2023). Revenue: HK$318.1m (down 19% from 1H 2023). Net income: HK$1.04m (down 16% from 1H 2023). Profit margin: 0.3% (in line with 1H 2023). Annonce • Aug 16
BoardWare Intelligence Technology Limited to Report First Half, 2024 Results on Aug 28, 2024 BoardWare Intelligence Technology Limited announced that they will report first half, 2024 results on Aug 28, 2024 Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: HK$0.009 (vs HK$0.008 in FY 2022) Full year 2023 results: EPS: HK$0.009 (up from HK$0.008 in FY 2022). Revenue: HK$717.6m (up 24% from FY 2022). Net income: HK$4.50m (up 38% from FY 2022). Profit margin: 0.6% (in line with FY 2022). Annonce • Mar 28
BoardWare Intelligence Technology Limited, Annual General Meeting, Jun 20, 2024 BoardWare Intelligence Technology Limited, Annual General Meeting, Jun 20, 2024. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: HK$0.009 (vs HK$0.008 in FY 2022) Full year 2023 results: EPS: HK$0.009 (up from HK$0.008 in FY 2022). Revenue: HK$717.6m (up 24% from FY 2022). Net income: HK$4.50m (up 38% from FY 2022). Profit margin: 0.6% (in line with FY 2022). Annonce • Mar 13
BoardWare Intelligence Technology Limited to Report Fiscal Year 2023 Final Results on Mar 26, 2024 BoardWare Intelligence Technology Limited announced that they will report fiscal year 2023 final results on Mar 26, 2024 Recent Insider Transactions • Dec 30
Chairman of the Board & CEO recently bought HK$938k worth of stock On the 27th of December, Ka Chon Chao bought around 268k shares on-market at roughly HK$3.50 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$9.0m. Ka Chon has been a buyer over the last 12 months, purchasing a net total of HK$9.9m worth in shares. Recent Insider Transactions • Dec 22
Chairman of the Board & CEO recently bought HK$9.0m worth of stock On the 19th of December, Ka Chon Chao bought around 3m shares on-market at roughly HK$2.60 per share. This transaction amounted to 1.1% 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 Ka Chon's only on-market trade for the last 12 months. Reported Earnings • Aug 26
First half 2023 earnings released: EPS: HK$0.002 (vs HK$0.021 in 1H 2022) First half 2023 results: EPS: HK$0.002 (down from HK$0.021 in 1H 2022). Revenue: HK$394.1m (up 60% from 1H 2022). Net income: HK$1.24m (down 83% from 1H 2022). Profit margin: 0.3% (down from 2.9% in 1H 2022). The decrease in margin was driven by higher expenses. Annonce • Aug 18
BoardWare Intelligence Technology Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 BoardWare Intelligence Technology Limited provided earnings guidance for the six months ended 30 June 2023. For the period, the Group is expected to record a decrease of no more than 75% in the profit before income tax for FP2023, as compared to that of approximately HKD 9.7 million for the six months ended 30 June 2022 (FP2022). Annonce • Aug 12
BoardWare Intelligence Technology Limited to Report First Half, 2023 Results on Aug 24, 2023 BoardWare Intelligence Technology Limited announced that they will report first half, 2023 results on Aug 24, 2023 Buying Opportunity • Jul 04
Now 20% undervalued Over the last 90 days, the stock is up 120%. The fair value is estimated to be HK$3.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 26%. Buying Opportunity • May 31
Now 22% undervalued Over the last 90 days, the stock is up 131%. The fair value is estimated to be HK$3.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has declined by 26%. Reported Earnings • Mar 31
Full year 2022 earnings released Full year 2022 results: Revenue: HK$580.8m (up 8.7% from FY 2021). Net income: HK$3.25m (down 87% from FY 2021). Profit margin: 0.6% (down from 4.5% in FY 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.21, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 11x in the IT industry in Hong Kong. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$1.50, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 12x in the IT industry in Hong Kong. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 17% share price gain to HK$1.24, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 11x in the IT industry in Hong Kong. Board Change • Nov 16
Less than half of directors are independent There are 8 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: 8 new directors. No experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Executive Director Hong Kei Ng is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Chi Wai Suen was the last independent director to join the board, commencing their role in 2022. 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. Reported Earnings • Sep 02
First half 2022 earnings released First half 2022 results: EPS: HK$0.021. Net income: HK$7.14m (up HK$7.14m from 1H 2021). Annonce • Aug 19
BoardWare Intelligence Technology Limited to Report First Half, 2022 Results on Aug 30, 2022 BoardWare Intelligence Technology Limited announced that they will report first half, 2022 results on Aug 30, 2022 Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.04, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 12x in the IT industry in Hong Kong. Recent Insider Transactions • Jul 24
Insider recently bought HK$30m worth of stock On the 15th of July, Choi Kun Ung bought around 28m shares on-market at roughly HK$1.08 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Annonce • Jul 15
BoardWare Intelligence Technology Limited has completed an IPO in the amount of HKD 135 million. BoardWare Intelligence Technology Limited has completed an IPO in the amount of HKD 135 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,500,000
Price\Range: HKD 1.08
Discount Per Security: HKD 0.0378
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 84,724,000
Price\Range: HKD 1.08
Discount Per Security: HKD 0.0378
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,776,000
Price\Range: HKD 1.08
Discount Per Security: HKD 0.0378
Transaction Features: Regulation S Board Change • Jul 15
Less than half of directors are independent There are 8 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: 8 new directors. No experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Executive Director Hong Kei Ng is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Chi Wai Suen was the last independent director to join the board, commencing their role in 2022. 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.