공시 • Sep 28
UniVision Engineering Limited Provides Update on Winding Up Petition UniVision Engineering Limited announces that the Winding up petition brought against it by one of its sub-contractors, namely,KML Engineering Limited, which was first announced on 28 July 2023, and due to be heard by the High Court in Hong Kong on 27 September 2023, was adjourned by the Court until 11 October 2023. New Risk • Jun 20
New major risk - Financial position The company has negative equity. Total equity: -UK£2.4m This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-UK£2.4m). Earnings have declined by 81% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£479.6k market cap, or US$612.9k). Minor Risk 공시 • May 20
UniVision Engineering Limited, Annual General Meeting, Jun 09, 2023 UniVision Engineering Limited, Annual General Meeting, Jun 09, 2023, at 17:00 China Standard Time. Location: Unit 201, 2/F., Sunbeam Centre, 27 Shing Yip Street, Kwun Tong Kowloon Hong Kong 공시 • Feb 17
UniVision Engineering Limited Provides Update on Winding Up Petition UniVision Engineering Limited announced that the Winding up petition brought against it by one of its suppliers, namely, Synnex Technology International (HK) Limited, which was first announced on 13 December 2022, has been dismissed by the High Court in Hong Kong on 13 February 2023. 공시 • Dec 14
UniVision Engineering Limited Announces Resignation of YIP Kwok Fai as Director, Effective 14 December 2022 UniVision announced that YIP Kwok Fai, known as Danny Yip, has tendered his resignation as a Director of UniVision with effect from 14 December 2022. The Company is already looking to appoint a replacement and a further announcement will be made in due course. In the meantime, Mr. Yip will remain with the Company as its Chief Financial Officer. 공시 • Nov 24
Univision Engineering Limited Announces Resignation of Ivor Shrago as Director UniVision Engineering Limited announced that Ivor Shrago, Non-executive Director, has tendered his resignation as a director and will leave the Company on 23 November 2022, after four years with the Company. The Company will look to appoint a replacement and a further announcement will be made in due course. 공시 • Jul 30
Univision Engineering Limited Announces Resignation of Chan Chi Hung Ivan as Director, Effective 1 August 2022 UniVision announced that CHAN Chi Hung Ivan, known as Ivan Chan, has tendered his resignation as a Director and will leave the Company on 1 August 2022. The Company is already looking to appoint a replacement and a further announcement will be made in due course. Buying Opportunity • Jun 17
Now 37% undervalued after recent price drop Over the last 90 days, the stock is down 44%. The fair value is estimated to be UK£0.0039, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.8% over the last 3 years. Earnings per share has declined by 52%. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. COO & Executive Director Ivan Chan was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non Executive Director Nick Lyth was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 07
Full year 2021 earnings released: EPS UK£0.002 (vs UK£0.001 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: UK£10.9m (up 2.0% from FY 2020). Net income: UK£563.4k (up 25% from FY 2020). Profit margin: 5.1% (up from 4.2% in FY 2020). The increase in margin was driven by higher revenue. 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 6% per year, which means it has not declined as severely as earnings. 공시 • Mar 05
SinoCloud Group Limited (Catalist:5EK) entered into a memorandum of understanding to acquire 52.4% stake in UniVision Engineering Limited (AIM : UVEL) from Koo Sin Mo, Stephen for HKD 89.1 million. SinoCloud Group Limited (Catalist:5EK) entered into a memorandum of understanding to acquire 52.4% stake in UniVision Engineering Limited (AIM : UVEL) from Koo Sin Mo, Stephen for HKD 89.1 million on March 2, 2021. Under the terms, 200.9 million shares will be acquired as a part of the transaction. The consideration shall be satisfied by way of a combination of cash and new ordinary shares of the SinoCloud to be issued, payable in tranches up to 36 months after completion of the transaction. Post the completion of the transaction, Koo Sin Mo will retain 20.52% stake in the company. The transaction is subject to due diligence investigation, execution of definitive agreement, regulatory approval, obtaining financing and approval by shareholders of SinoCloud. The transaction is expected to close in April 2021. Mark Brady and Neil Baldwin of SPARK Advisory Partners Limited acted as financial advisor to UniVision Engineering in the transaction. 공시 • Jan 22
UniVision Engineering Limited Signs Fifth Supplementary Agreement to May 2017 Agreement with the MTR Corporation in Hong Kong UniVision announced that the Company has signed a fifth Supplementary Agreement to its May 2017 Agreement with the MTR Corporation in Hong Kong. Supplementary Agreement No.5, which is for modifying design and installation method of CCTV cameras, has an agreed contract value of HKD 16.3 million. UniVision shall supply and install the new IP-based platform cameras and associated equipment to provide full coverage of 9-cars platforms area to achieve the functional and technical requirements by MTRC. This contract award follows closely behind Supplementary Agreement No.4, announced as Contract Win on 30 December 2020, which was for HKD 11.2 million. As announced on 30 December 2020, the Directors now expect that work on the Major Contract, together with the five Supplementary Agreements added to date, is now unlikely to complete in full until July 2024. Reported Earnings • Dec 30
First half 2021 earnings released: EPS UK£0.001 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: UK£4.06m (down 19% from 1H 2020). Net income: UK£394.0k (up 121% from 1H 2020). Profit margin: 9.7% (up from 3.5% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings.