Reported Earnings • Apr 30
Full year 2025 earnings released: CN¥0.36 loss per share (vs CN¥0.16 profit in FY 2024) Full year 2025 results: CN¥0.36 loss per share (down from CN¥0.16 profit in FY 2024). Revenue: CN¥357.6m (down 32% from FY 2024). Net loss: CN¥84.8m (down 330% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Aankondiging • Apr 30
Koal Software Co., Ltd., Annual General Meeting, May 21, 2026 Koal Software Co., Ltd., Annual General Meeting, May 21, 2026, at 14:00 China Standard Time. Location: Floor A2, G60 Commercial Cryptography Industry Base, No. 1-7, Lane 58, Muchuan Road, Sijing Town, Songjiang District, Shanghai China New Risk • Apr 15
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Aankondiging • Mar 30
Koal Software Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Koal Software Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Aankondiging • Dec 26
Koal Software Co., Ltd. to Report Fiscal Year 2025 Results on Apr 30, 2026 Koal Software Co., Ltd. announced that they will report fiscal year 2025 results on Apr 30, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: CN¥0.031 (vs CN¥0.049 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.031 (down from CN¥0.049 in 3Q 2024). Revenue: CN¥119.7m (down 14% from 3Q 2024). Net income: CN¥7.28m (down 41% from 3Q 2024). Profit margin: 6.1% (down from 8.9% in 3Q 2024). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. 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 7.5% 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: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Aankondiging • Sep 30
Koal Software Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Koal Software Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Reported Earnings • Aug 20
Second quarter 2025 earnings released: CN¥0.093 loss per share (vs CN¥0.005 profit in 2Q 2024) Second quarter 2025 results: CN¥0.093 loss per share (down from CN¥0.005 profit in 2Q 2024). Revenue: CN¥70.0m (down 52% from 2Q 2024). Net loss: CN¥22.5m (down CN¥23.6m from profit in 2Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Aankondiging • Jun 30
Koal Software Co., Ltd. to Report First Half, 2025 Results on Aug 20, 2025 Koal Software Co., Ltd. announced that they will report first half, 2025 results on Aug 20, 2025 Declared Dividend • Jun 22
Dividend reduced to CN¥0.05 Dividend of CN¥0.05 is 17% lower than last year. Ex-date: 25th June 2025 Payment date: 25th June 2025 Dividend yield will be 0.4%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 203% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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. Major Estimate Revision • May 02
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥739.2m to CN¥642.1m. EPS estimate fell from CN¥0.43 to CN¥0.37 per share. Net income forecast to grow 154% next year vs 59% growth forecast for Software industry in China. Consensus price target down from CN¥23.65 to CN¥16.00. Share price was steady at CN¥12.86 over the past week. Reported Earnings • Apr 27
First quarter 2025 earnings released: CN¥0.22 loss per share (vs CN¥0.22 loss in 1Q 2024) First quarter 2025 results: CN¥0.22 loss per share (in line with 1Q 2024). Revenue: CN¥45.7m (down 5.9% from 1Q 2024). Net loss: CN¥50.2m (loss narrowed 2.5% from 1Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 26
Koal Software Co., Ltd., Annual General Meeting, May 16, 2025 Koal Software Co., Ltd., Annual General Meeting, May 16, 2025, at 14:00 China Standard Time. Location: Floor A2, G60 Commercial Cryptography Industry Base, No. 1-7, Lane 58, Muchuan Road, Sijing Town, Songjiang District, Shanghai China Aankondiging • Mar 28
Koal Software Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Koal Software Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 New Risk • Jan 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 9.2% 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: Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Large one-off items impacting financial results. Aankondiging • Dec 27
Koal Software Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Koal Software Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Aankondiging • Sep 30
Koal Software Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Koal Software Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥12.57, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 33x in the Software industry in China. Total loss to shareholders of 10% over the past three years. Price Target Changed • Aug 30
Price target increased by 9.4% to CN¥19.25 Up from CN¥17.60, the current price target is provided by 1 analyst. New target price is 91% above last closing price of CN¥10.06. Stock is down 29% over the past year. The company is forecast to post earnings per share of CN¥0.35 for next year compared to CN¥0.16 last year. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.005 (vs CN¥0.04 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.005 (up from CN¥0.04 loss in 2Q 2023). Revenue: CN¥144.8m (up 54% from 2Q 2023). Net income: CN¥1.08m (up CN¥10.3m from 2Q 2023). Profit margin: 0.7% (up from net loss in 2Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 49% 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. New Risk • Jul 22
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 9.3% 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 (9.3% average weekly change). High level of non-cash earnings (26% accrual ratio). Aankondiging • Jun 28
Koal Software Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Koal Software Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Aankondiging • Apr 29
Koal Software Co., Ltd., Annual General Meeting, May 17, 2024 Koal Software Co., Ltd., Annual General Meeting, May 17, 2024, at 14:00 China Standard Time. Location: Floor A2, G60 Commercial Cryptography Industry Base, No. 1-7, Lane 58, Muchuan Road, Sijing Town, Songjiang District, Shanghai China Reported Earnings • Apr 28
First quarter 2024 earnings released: CN¥0.22 loss per share (vs CN¥0.18 loss in 1Q 2023) First quarter 2024 results: CN¥0.22 loss per share (further deteriorated from CN¥0.18 loss in 1Q 2023). Revenue: CN¥48.5m (down 29% from 1Q 2023). Net loss: CN¥51.5m (loss widened 24% from 1Q 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Aankondiging • Mar 29
Koal Software Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Koal Software Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 New Risk • Jan 29
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 6.3% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Aankondiging • Dec 29
Koal Software Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Koal Software Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Aankondiging • Nov 09
Koal Software Co., Ltd. (SHSE:603232) announces an Equity Buyback for CNY 30 million worth of its shares. Koal Software Co., Ltd. (SHSE:603232) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 19.63 per share. The shares purchased will be used for the company's equity incentive plan or employee stock ownership plans. The program will be funded out of the company's own funds. The program will be valid till 6 months. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.056 (vs CN¥0.011 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.056 (up from CN¥0.011 loss in 3Q 2022). Revenue: CN¥168.5m (flat on 3Q 2022). Net income: CN¥13.5m (up CN¥16.0m from 3Q 2022). Profit margin: 8.0% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 56% 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. Reported Earnings • Aug 27
Second quarter 2023 earnings released: CN¥0.04 loss per share (vs CN¥0.035 profit in 2Q 2022) Second quarter 2023 results: CN¥0.04 loss per share (down from CN¥0.035 profit in 2Q 2022). Revenue: CN¥94.3m (down 41% from 2Q 2022). Net loss: CN¥9.22m (down 218% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Aankondiging • May 18
Koal Software Co., Ltd. announced a financing transaction Koal Software Co., Ltd. announced a private placement that it will receive round of funding on May 17, 2023. The company will issue common shares in the transaction. The transaction has been approved by the shareholders of the company. Reported Earnings • Apr 28
First quarter 2023 earnings released: CN¥0.18 loss per share (vs CN¥0.24 loss in 1Q 2022) First quarter 2023 results: CN¥0.18 loss per share (improved from CN¥0.24 loss in 1Q 2022). Revenue: CN¥68.6m (down 50% from 1Q 2022). Net loss: CN¥41.7m (loss narrowed 26% from 1Q 2022). Revenue is forecast to grow 49% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥16.62, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 45x in the Software industry in China. Total loss to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥17.40, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 35x in the Software industry in China. Total loss to shareholders of 25% over the past three years. 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 Yongji Xiao was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 42% share price gain to CN¥16.78, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 30x in the Software industry in China. Total loss to shareholders of 4.7% over the past three years. Reported Earnings • Oct 26
Third quarter 2022 earnings released: CN¥0.011 loss per share (vs CN¥0.009 profit in 3Q 2021) Third quarter 2022 results: CN¥0.011 loss per share (down from CN¥0.009 profit in 3Q 2021). Revenue: CN¥169.7m (up 53% from 3Q 2021). Net loss: CN¥2.53m (down 223% from profit in 3Q 2021). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥11.67, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 28x in the Software industry in China. Total loss to shareholders of 32% over the past three years. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.035 (vs CN¥0.005 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.035 (up from CN¥0.005 loss in 2Q 2021). Revenue: CN¥158.8m (up 53% from 2Q 2021). Net income: CN¥7.83m (up CN¥8.83m from 2Q 2021). Profit margin: 4.9% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 35%, compared to a 32% growth forecast for the Software industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.24 loss per share (down from CN¥0.10 loss in 1Q 2021). Revenue: CN¥137.2m (up 88% from 1Q 2021). Net loss: CN¥55.9m (loss widened 134% from 1Q 2021). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 39%, compared to a 31% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥17.20, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 32x in the Software industry in China. Total returns to shareholders of 73% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.009 (vs CN¥0.005 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥110.8m (up 73% from 3Q 2020). Net income: CN¥2.05m (up 76% from 3Q 2020). Profit margin: 1.9% (up from 1.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released: CN¥0.005 loss per share (vs CN¥0.037 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CN¥103.9m (up 69% from 2Q 2020). Net loss: CN¥1.00m (loss narrowed 87% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.32 (vs CN¥0.41 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¥444.8m (up 20% from FY 2019). Net income: CN¥57.1m (down 19% from FY 2019). Profit margin: 13% (down from 19% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 12
New 90-day low: CN¥17.20 The company is down 42% from its price of CN¥29.60 on 11 December 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥11.00 per share. Is New 90 Day High Low • Jan 21
New 90-day low: CN¥22.15 The company is down 19% from its price of CN¥27.26 on 23 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥10.83 per share. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥26.02 The company is down 13% from its price of CN¥29.88 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 Software industry, which is down 4.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥41.8m, down 24% from the prior year. Total revenue was CN¥394.9m over the last 12 months, up 30% from the prior year. Is New 90 Day High Low • Oct 16
New 90-day low: CN¥29.36 The company is down 7.0% from its price of CN¥31.65 on 17 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.07 per share. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥29.58 The company is down 4.0% from its price of CN¥30.80 on 30 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥3.13 per share. Aankondiging • Sep 04
Koal Software Co., Ltd. announced that it has received CNY 644.799984 million in funding from a group of investors On August 31, 2020, Koal Software Co., Ltd. (SHSE:603232) closed the transaction. The comp[any amended the terms of the transaction. The company issued 20,901,134 shares at an issue price of CNY 30.85 per share for CNY 644,799,984. The transaction included participation from E Fund Management Co., Ltd. for CNY 148,999,977.85, Caitong Fund Management Co., Ltd. for CNY 70,699,993.60, Harvest Fund Management Co., Ltd., CNY for 64,499,976.85 and individual investor Ling Chao for CNY 19,999,993.30. All issued shares will have a lock up period of 12 months since issuance date. The company paid issuance costs of CNY 8,844,116.58 brining the net proceeds to CNY 635,955,867.32. Of the total proceeds, CNY 20,901,134.00 is included in the registered capital and CNY 615,054,733.32 in reserve. The company completed its registration and custody procedures of the shares at the Shanghai Branch of China Securities Depository and Clearing Corporation Limited. Aankondiging • Jul 10
Koal Software Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Koal Software Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020