New Risk • May 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Apr 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to CN¥23.14. The fair value is estimated to be CN¥18.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Apr 23
Full year 2025 earnings released: EPS: CN¥0.20 (vs CN¥0.13 loss in FY 2024) Full year 2025 results: EPS: CN¥0.20 (up from CN¥0.13 loss in FY 2024). Revenue: CN¥341.5m (up 14% from FY 2024). Net income: CN¥26.5m (up CN¥43.5m from FY 2024). Profit margin: 7.8% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. 공시 • Apr 20
TVZone Media Co., Ltd., Annual General Meeting, May 08, 2026 TVZone Media Co., Ltd., Annual General Meeting, May 08, 2026, at 14:00 China Standard Time. Location: 4F, No. 46, Yazipu Road, Yuehu Subdistrict, Kaifu District, Changsha, Hunan China 공시 • Mar 30
TVZone Media Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 TVZone Media Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 공시 • Dec 26
TVZone Media Co., Ltd. to Report Fiscal Year 2025 Results on Apr 18, 2026 TVZone Media Co., Ltd. announced that they will report fiscal year 2025 results on Apr 18, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.018 (vs CN¥0.043 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.018 (down from CN¥0.043 in 3Q 2024). Revenue: CN¥54.6m (down 39% from 3Q 2024). Net income: CN¥1.97m (down 65% from 3Q 2024). Profit margin: 3.6% (down from 6.2% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. 공시 • Sep 30
TVZone Media Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 TVZone Media Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 공시 • Jun 30
TVZone Media Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 TVZone Media Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 New Risk • May 17
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 Chinese stocks, typically moving 8.6% 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 32% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). 공시 • Apr 30
TVZone Media Co., Ltd., Annual General Meeting, May 21, 2025 TVZone Media Co., Ltd., Annual General Meeting, May 21, 2025, at 15:00 China Standard Time. Location: 4F, No. 46, Yazipu Road, Yuehu Subdistrict, Kaifu District, Changsha, Hunan China 공시 • Mar 28
TVZone Media Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 TVZone Media Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 공시 • Dec 27
TVZone Media Co., Ltd. to Report Fiscal Year 2024 Results on Apr 09, 2025 TVZone Media Co., Ltd. announced that they will report fiscal year 2024 results on Apr 09, 2025 New Risk • Dec 25
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 Chinese stocks, typically moving 13% 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 (13% average weekly change). Earnings have declined by 18% per year over the past 5 years. New Risk • Nov 18
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 Chinese stocks, typically moving 10% 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 18% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.22 (vs CN¥0.011 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.22 (up from CN¥0.011 in 3Q 2023). Revenue: CN¥89.7m (up 43% from 3Q 2023). Net income: CN¥5.60m (up 165% from 3Q 2023). Profit margin: 6.2% (up from 3.4% in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. 공시 • Sep 30
TVZone Media Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 TVZone Media Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 공시 • Jun 28
TVZone Media Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 TVZone Media Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Reported Earnings • May 01
First quarter 2024 earnings released: CN¥0.038 loss per share (vs CN¥0.001 profit in 1Q 2023) First quarter 2024 results: CN¥0.038 loss per share (down from CN¥0.001 profit in 1Q 2023). Revenue: CN¥83.2m (up 156% from 1Q 2023). Net loss: CN¥4.96m (down CN¥5.12m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Reported Earnings • Apr 11
Full year 2023 earnings released: CN¥0.07 loss per share (vs CN¥0.12 profit in FY 2022) Full year 2023 results: CN¥0.07 loss per share (down from CN¥0.12 profit in FY 2022). Revenue: CN¥232.0m (up 9.3% from FY 2022). Net loss: CN¥8.67m (down 155% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. 공시 • Apr 10
TVZone Media Co., Ltd., Annual General Meeting, Apr 30, 2024 TVZone Media Co., Ltd., Annual General Meeting, Apr 30, 2024, at 14:30 China Standard Time. Location: 4F, No. 46, Yazipu Road, Yuehu Subdistrict, Kaifu District, Changsha, Hunan China 공시 • Mar 29
TVZone Media Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 TVZone Media Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 공시 • Dec 29
TVZone Media Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 TVZone Media Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 New Risk • Oct 30
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 Chinese stocks, typically moving 6.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 364% Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). New Risk • Sep 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 364% Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. High level of non-cash earnings (25% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Shengmin Huang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.032 (vs CN¥0.018 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.032 (up from CN¥0.018 in 3Q 2021). Revenue: CN¥69.4m (flat on 3Q 2021). Net income: CN¥3.56m (up 96% from 3Q 2021). Profit margin: 5.1% (up from 2.6% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.038 (vs CN¥0.03 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.038 (up from CN¥0.03 in 2Q 2021). Revenue: CN¥59.2m (down 9.5% from 2Q 2021). Net income: CN¥6.64m (up 55% from 2Q 2021). Profit margin: 11% (up from 6.5% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Aug 25
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Shengmin Huang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 02
First quarter 2022 earnings released: CN¥0.01 loss per share (vs CN¥0.03 profit in 1Q 2021) First quarter 2022 results: CN¥0.01 loss per share (down from CN¥0.03 profit in 1Q 2021). Revenue: CN¥60.0m (up 17% from 1Q 2021). Net loss: CN¥1.06m (down 127% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 21
Full year 2021 earnings released: EPS: CN¥0.17 (vs CN¥0.18 loss in FY 2020) Full year 2021 results: EPS: CN¥0.17 (up from CN¥0.18 loss in FY 2020). Revenue: CN¥273.4m (down 8.6% from FY 2020). Net income: CN¥22.4m (up CN¥46.4m from FY 2020). Profit margin: 8.2% (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 fallen by 31% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.018 (vs CN¥0.05 loss 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: CN¥68.8m (down 11% from 3Q 2020). Net income: CN¥1.81m (up CN¥7.82m from 3Q 2020). Profit margin: 2.6% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.03 (vs CN¥0.021 in 2Q 2020) The company reported a solid second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: CN¥65.4m (flat on 2Q 2020). Net income: CN¥4.28m (up 31% from 2Q 2020). Profit margin: 6.5% (up from 5.0% in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 25
Full year 2020 earnings released: CN¥0.18 loss per share (vs CN¥0.15 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: CN¥299.2m (up 11% from FY 2019). Net loss: CN¥24.0m (down 224% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥9.85, the stock is trading at a trailing P/E ratio of 59.9x, down from the previous P/E ratio of 73.1x. This compares to an average P/E of 33x in the Entertainment industry in China. Total return to shareholders over the past three years is a loss of 37%. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥9.85 The company is down 35% from its price of CN¥15.21 on 06 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 5.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day low: CN¥10.37 The company is down 41% from its price of CN¥17.72 on 15 October 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 14% over the same period. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥10.77, the stock is trading at a trailing P/E ratio of 65.5x, down from the previous P/E ratio of 77.1x. This compares to an average P/E of 35x in the Entertainment industry in China. Total return to shareholders over the past three years is a loss of 46%. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥12.22 The company is down 30% from its price of CN¥17.43 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 18% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥13.76 The company is down 23% from its price of CN¥17.97 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 17% over the same period. Is New 90 Day High Low • Nov 16
New 90-day low: CN¥14.92 The company is down 30% from its price of CN¥21.41 on 18 August 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 17% over the same period. Reported Earnings • Nov 03
Third quarter 2020 earnings released: CN¥0.057 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: CN¥77.4m (up 14% from 3Q 2019). Net loss: CN¥6.01m (loss widened 464% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 67% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. 공시 • Oct 30
TVZone Media Co., Ltd. to Report Q3, 2020 Results on Oct 31, 2020 TVZone Media Co., Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Oct 27
New 90-day low: CN¥16.78 The company is down 23% from its price of CN¥21.73 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 14% over the same period. 공시 • Jul 18
TVZone Media Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 TVZone Media Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020