Buy Or Sell Opportunity • Jul 23
Now 24% overvalued Over the last 90 days, the stock has fallen 25% to CN¥3.77. The fair value is estimated to be CN¥3.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 58%. Aankondiging • Jun 30
Lets Holdings Group Co., Ltd. to Report First Half, 2026 Results on Aug 25, 2026 Lets Holdings Group Co., Ltd. announced that they will report first half, 2026 results on Aug 25, 2026 Aankondiging • Jun 05
Lets Holdings Group Co., Ltd. Announces 2025 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 10 June 2026 Lets Holdings Group Co., Ltd. announced 2025 final profit distribution plan to be implemented (A shares): Cash dividend per 10 shares (tax included): CNY 0.80000000. Record date: 09 June 2026. Ex-date: 10 June 2026, Payment date: 10 June 2026. Declared Dividend • Jun 05
Dividend of CN¥0.08 announced Dividend of CN¥0.08 is the same as last year. Ex-date: 10th June 2026 Payment date: 10th June 2026 Dividend yield will be 1.8%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (118% earnings payout ratio). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 31% to bring the payout ratio under control. However, EPS has declined by 35% over the last 5 years so the company would need to reverse this trend. Aankondiging • Apr 28
Lets Holdings Group Co., Ltd., Annual General Meeting, May 18, 2026 Lets Holdings Group Co., Ltd., Annual General Meeting, May 18, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Xiamen, Fujian China Aankondiging • Mar 31
Lets Holdings Group Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Lets Holdings Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Aankondiging • Dec 31
Lets Holdings Group Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Lets Holdings Group Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Aankondiging • Sep 30
Lets Holdings Group Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Lets Holdings Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Aankondiging • Sep 18
Lets Holdings Group Co., Ltd. Announces Board Appointments Lets Holdings Group Co., Ltd. at its EGM, held on September 16, 2025, approved the appointment of Wang Fengzhou as independent directors, and Pan Zhifeng as non-independent directors. Aankondiging • Jul 02
Lets Holdings Group Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Lets Holdings Group Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Aankondiging • Apr 28
Lets Holdings Group Co., Ltd., Annual General Meeting, May 16, 2025 Lets Holdings Group Co., Ltd., Annual General Meeting, May 16, 2025, at 15:00 China Standard Time. Location: The Company's Meeting Room, Xiamen, Fujian China Aankondiging • Mar 31
Lets Holdings Group Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Lets Holdings Group Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Aankondiging • Dec 31
Lets Holdings Group Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Lets Holdings Group Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 New Risk • Nov 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.3% Last year net profit margin: 5.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.3% net profit margin). Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.039 (vs CN¥0.06 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.039 (down from CN¥0.06 in 3Q 2023). Revenue: CN¥670.1m (down 30% from 3Q 2023). Net income: CN¥23.5m (down 45% from 3Q 2023). Profit margin: 3.5% (down from 4.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 34% 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. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥4.08, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Basic Materials industry in China. Total loss to shareholders of 28% over the past three years. Aankondiging • Sep 30
Lets Holdings Group Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Lets Holdings Group Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Aug 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 Dividend is not well covered by cash flows (214% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Reported Earnings • Aug 20
Second quarter 2024 earnings released: EPS: CN¥0.041 (vs CN¥0.11 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.041 (down from CN¥0.11 in 2Q 2023). Revenue: CN¥658.3m (down 36% from 2Q 2023). Net income: CN¥30.5m (down 60% from 2Q 2023). Profit margin: 4.6% (down from 7.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Aankondiging • Jun 29
Lets Holdings Group Co., Ltd. to Report First Half, 2024 Results on Aug 20, 2024 Lets Holdings Group Co., Ltd. announced that they will report first half, 2024 results on Aug 20, 2024 Aankondiging • Jun 13
Lets Holdings Group Co., Ltd. Implements 2023 Final Profit Distribution for A Shares, Payable on 17 June 2024 Lets Holdings Group Co., Ltd. implemented 2023 final profit distribution plan for A shares. Cash dividend/10 shares (tax included) of CNY 0.80000000. Record date is 14 June 2024, ex-date is 17 June 2024 and payment date is 17 June 2024. Board Change • Jun 04
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Chunjiao Yang was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 29
First quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.07 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.06 (down from CN¥0.07 in 1Q 2023). Revenue: CN¥520.5m (down 33% from 1Q 2023). Net income: CN¥41.9m (down 13% from 1Q 2023). Profit margin: 8.0% (up from 6.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 19
Full year 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.30 in FY 2022) Full year 2023 results: EPS: CN¥0.22 (down from CN¥0.30 in FY 2022). Revenue: CN¥3.06b (down 23% from FY 2022). Net income: CN¥158.9m (down 25% from FY 2022). Profit margin: 5.2% (down from 5.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Basic Materials industry in China. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 16
Lets Holdings Group Co., Ltd., Annual General Meeting, May 07, 2024 Lets Holdings Group Co., Ltd., Annual General Meeting, May 07, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Xiamen, Fujian China Aankondiging • Mar 30
Lets Holdings Group Co., Ltd. to Report Q1, 2024 Results on Apr 29, 2024 Lets Holdings Group Co., Ltd. announced that they will report Q1, 2024 results on Apr 29, 2024 Aankondiging • Mar 08
Lets Holdings Group Co., Ltd. (SZSE:002398) commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on March 5, 2024. Lets Holdings Group Co., Ltd. (SZSE:002398) commences share repurchases on March 6, 2024, under the program mandated by the shareholders in the Annual General Meeting held on March 5, 2024. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its shares. The repurchase price will not more than CNY 5.10 per Share. The repurchased shares will be used to cancel and reduce registered capital and subsequently implement employee stock ownership plans or equity incentive plans. The repurchases will be funded using company's own funds. The repurchase period will be not more than 3 months. As of February 19, 2024, the company had 713,622,908 shares outstanding. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥4.17, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Basic Materials industry in China. Total loss to shareholders of 43% over the past three years. Aankondiging • Dec 30
Lets Holdings Group Co., Ltd. to Report Fiscal Year 2023 Results on Apr 16, 2024 Lets Holdings Group Co., Ltd. announced that they will report fiscal year 2023 results on Apr 16, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.10 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.06 (down from CN¥0.10 in 3Q 2022). Revenue: CN¥952.7m (down 9.5% from 3Q 2022). Net income: CN¥42.4m (down 43% from 3Q 2022). Profit margin: 4.5% (down from 7.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.11. Revenue: CN¥1.04b (down 7.9% from 2Q 2022). Net income: CN¥76.8m (down 4.1% from 2Q 2022). Profit margin: 7.4% (up from 7.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Basic Materials industry in China. Aankondiging • May 09
Lets Holdings Group Co., Ltd. Approves Final Cash Dividend for A Shares for the Year 2022, Payable on 12 May 2023 Lets Holdings Group Co., Ltd. approved final Cash dividend/10 shares (tax included) of CNY 0.80000000 for A shares for the year 2022. Record date is 11 May 2023. Ex-date is 12 May 2023. Payment date is 12 May 2023. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: CN¥0.30 (vs CN¥0.38 in FY 2021) Full year 2022 results: EPS: CN¥0.30 (down from CN¥0.38 in FY 2021). Revenue: CN¥3.95b (down 20% from FY 2021). Net income: CN¥210.8m (down 23% from FY 2021). Profit margin: 5.3% (down from 5.5% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Basic Materials industry in China. Board Change • Oct 31
High number of new directors Independent Director Chunjiao Yang was the last director to join the board, commencing their role in 2022. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.10 (vs CN¥0.12 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.10 (down from CN¥0.12 in 3Q 2021). Revenue: CN¥1.05b (down 18% from 3Q 2021). Net income: CN¥73.8m (down 9.8% from 3Q 2021). Profit margin: 7.0% (up from 6.4% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Basic Materials industry in China. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11. Revenue: CN¥1.12b (down 19% from 2Q 2021). Net income: CN¥80.1m (up 2.3% from 2Q 2021). Profit margin: 7.1% (up from 5.7% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 33%, compared to a 16% growth forecast for the Basic Materials industry in China. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥6.95, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Basic Materials industry in China. Total returns to shareholders of 15% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥9.61 per share. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CN¥0.08 (vs CN¥0.10 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.08 (down from CN¥0.10 in 1Q 2021). Revenue: CN¥882.6m (flat on 1Q 2021). Net income: CN¥55.5m (down 23% from 1Q 2021). Profit margin: 6.3% (down from 8.1% in 1Q 2021). Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Director Xiangyi Lin was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥7.52, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Basic Materials industry in China. Total loss to shareholders of 7.0% over the past year. Reported Earnings • Mar 09
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CN¥0.38 (down from CN¥0.54 in FY 2020). Revenue: CN¥4.92b (up 27% from FY 2020). Net income: CN¥271.4m (down 27% from FY 2020). Profit margin: 5.5% (down from 9.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 26%, compared to a 14% growth forecast for the industry in China. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.16 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥1.29b (up 22% from 3Q 2020). Net income: CN¥81.8m (down 25% from 3Q 2020). Profit margin: 6.4% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.17 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥1.39b (up 31% from 2Q 2020). Net income: CN¥78.3m (down 36% from 2Q 2020). Profit margin: 5.7% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.10 (vs CN¥0.08 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥890.8m (up 97% from 1Q 2020). Net income: CN¥72.2m (up 36% from 1Q 2020). Profit margin: 8.1% (down from 12% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.54 (vs CN¥0.58 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥3.87b (up 14% from FY 2019). Net income: CN¥372.5m (down 7.5% from FY 2019). Profit margin: 9.6% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses.