お知らせ • Aug 21
NYSE to Commence Delisting Proceedings Against Meta Data Limited The New York Stock Exchange (“NYSE”, the “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares (“ADSs”), each ADS representing ten Class A ordinary shares, of Meta Data Limited (the “Company”) — ticker symbol AIU — from the NYSE. Trading in the Company’s ADSs will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to NYSE Listed Company Manual Section 802.01D, after the Company’s August 19, 2024 press release disclosure regarding the fact that the Company was ordered to be wound up by the Grand Court of the Cayman Islands on August 7, 2024, with the liquidation representing a formal insolvency process. Additionally, NYSE Regulation noted that acquisitions and disposals of the Company’s shares subject to this winding up from August 7, 2024 are only permissible subject to the provision of a validation order from the Cayman Islands Court, on request of the Company’s liquidators. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the ultimate effect of this process and these trading restrictions on the Company’s ADSs. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. New Risk • Jul 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 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 Share price has been highly volatile over the past 3 months (27% average weekly change). Shareholders have been substantially diluted in the past year (170% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported August 2023 fiscal period end). Market cap is less than US$100m (€68.0m market cap, or US$74.1m). Buy Or Sell Opportunity • Jun 11
Now 49% undervalued after recent price drop Over the last 90 days, the stock has fallen 53% to €0.35. The fair value is estimated to be €0.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 68% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Apr 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €81.1m (US$87.8m) 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 Shareholders have been substantially diluted in the past year (327% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€81.1m market cap, or US$87.8m). Buy Or Sell Opportunity • Apr 03
Now 32% undervalued after recent price drop Over the last 90 days, the stock has fallen 43% to €0.50. The fair value is estimated to be €0.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 68% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Dec 06
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 German stocks, typically moving 7.0% 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 Negative equity (-US$54m). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (427% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€71.3m market cap, or US$77.0m). New Risk • Jul 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2022. 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 Negative equity (-CN¥5.4b). Earnings have declined by 59% per year over the past 5 years. Shareholders have been substantially diluted in the past year (290% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported August 2022 fiscal period end). Share price has been volatile over the past 3 months (9.6% average weekly change). Revenue is less than US$5m (CN¥15m revenue, or US$2.0m). Market cap is less than US$100m (€55.8m market cap, or US$60.9m). Board Change • Jan 19
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Sep 26
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: CN¥0 (vs CN¥51.33 loss in 1H 2021) First half 2022 results: EPS: CN¥0 (up from CN¥51.33 loss in 1H 2021). Net loss: CN¥326.0m (loss narrowed 1.7% from 1H 2021). Board Change • Jul 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Mar 08
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Mengchu Zhou is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jan 26
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chairman & CEO Steve Zhang is the most experienced director on the board, commencing their role in 2008. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 16
Second quarter 2021 earnings released: CN¥1.07 loss per share (vs CN¥0.10 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CN¥931.6m (up 5.2% from 2Q 2020). Net loss: CN¥172.0m (loss widened CN¥155.6m from 2Q 2020). Executive Departure • Apr 11
Independent Director has left the company On the 9th of April, Zhe Wei's tenure as Independent Director ended after 3.0 years in the role. As of December 2020, Zhe personally held 3.57m shares (€10m worth at the time). Zhe is the only executive to leave the company over the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue in line with expectations Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 45%, compared to a 8.6% growth forecast for the Consumer Services industry in Germany. Reported Earnings • Feb 24
First quarter 2021 earnings released The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: CN¥684.8m (down 14% from 1Q 2020). Net loss: CN¥159.6m (loss widened 77% from 1Q 2020). Is New 90 Day High Low • Feb 13
New 90-day high: €3.52 The company is up 6.0% from its price of €3.32 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Consumer Services industry, which is also up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.000007 per share. Is New 90 Day High Low • Jan 18
New 90-day low: €2.86 The company is down 23% from its price of €3.70 on 20 October 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.000007 per share. Reported Earnings • Jan 02
Full year 2020 earnings released: CN¥4.53 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: CN¥3.44b (down 14% from FY 2019). Net loss: CN¥729.8m (down 397% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Jan 02
Revenue beats expectations Revenue exceeded analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 37%, compared to a 7.7% growth forecast for the Consumer Services industry in Germany. Is New 90 Day High Low • Dec 16
New 90-day low: €3.04 The company is down 20% from its price of €3.80 on 16 September 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.83 per share. Is New 90 Day High Low • Nov 27
New 90-day low: €3.12 The company is down 10.0% from its price of €3.46 on 28 August 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.69 per share. Reported Earnings • Nov 25
Full year 2020 earnings released: CN¥4.50 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: CN¥3.44b (down 14% from FY 2019). Net loss: CN¥724.8m (down 395% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Nov 25
Revenue beats expectations Revenue exceeded analyst estimates by 0.8%. Over the next year, revenue is forecast to grow 46%, compared to a 7.5% growth forecast for the Consumer Services industry in Germany.