Board Change • 16h
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Director Li Ye was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 10
DHC Software Co.,Ltd., Annual General Meeting, May 11, 2026 DHC Software Co.,Ltd., Annual General Meeting, May 11, 2026, at 15:00 China Standard Time. Location: 16F, DHC Hechuang Building, Building 3, Zijin Digital Park, Zhichun Road, Haidian District, Beijing China Aankondiging • Mar 31
DHC Software Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 DHC Software Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Aankondiging • Dec 31
DHC Software Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 10, 2026 DHC Software Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 10, 2026 Aankondiging • Sep 30
DHC Software Co.,Ltd. to Report Q3, 2025 Results on Oct 29, 2025 DHC Software Co.,Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Aankondiging • Jul 02
DHC Software Co.,Ltd. to Report First Half, 2025 Results on Aug 27, 2025 DHC Software Co.,Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Aankondiging • Apr 12
DHC Software Co.,Ltd. Proposes Final Dividend for 2024 DHC Software Co.,Ltd. announced on 11 April 2025 the profit distribution proposal for 2024 as follows: Cash dividend/10 shares (tax included): CNY 0.50000000. Aankondiging • Apr 11
DHC Software Co.,Ltd., Annual General Meeting, May 12, 2025 DHC Software Co.,Ltd., Annual General Meeting, May 12, 2025, at 15:00 China Standard Time. Location: 16F, DHC Hechuang Building, Building 3, Zijin Digital Park, Zhichun Road, Haidian District, Beijing China Aankondiging • Mar 31
DHC Software Co.,Ltd. to Report Q1, 2025 Results on Apr 30, 2025 DHC Software Co.,Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Aankondiging • Dec 31
DHC Software Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 11, 2025 DHC Software Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 11, 2025 Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥8.57, the stock trades at a trailing P/E ratio of 70.4x. Average trailing P/E is 80x in the IT industry in China. Total returns to shareholders of 23% over the past three years. Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: CN¥0.062 (vs CN¥0.03 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.062 (up from CN¥0.03 in 3Q 2023). Revenue: CN¥2.46b (up 6.8% from 3Q 2023). Net income: CN¥200.5m (up 107% from 3Q 2023). Profit margin: 8.1% (up from 4.2% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% 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 21% After last week's 21% share price gain to CN¥5.72, the stock trades at a trailing P/E ratio of 63.9x. Average trailing P/E is 59x in the IT industry in China. Total loss to shareholders of 23% over the past three years. Aankondiging • Sep 30
DHC Software Co.,Ltd. to Report Q3, 2024 Results on Oct 29, 2024 DHC Software Co.,Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: CN¥0.068 (vs CN¥0.095 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.068 (down from CN¥0.095 in 2Q 2023). Revenue: CN¥2.51b (up 7.7% from 2Q 2023). Net income: CN¥218.7m (down 28% from 2Q 2023). Profit margin: 8.7% (down from 13% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 18% per year. Declared Dividend • Jul 05
Dividend of CN¥0.05 announced Dividend of CN¥0.05 is the same as last year. Ex-date: 9th July 2024 Payment date: 9th July 2024 Dividend yield will be 1.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (43% 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 remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 52% to shift the payout ratio to a potentially unsustainable range, which is more than the 15% EPS decline seen over the last 5 years. Aankondiging • Jul 03
Dhc Software Co.,Ltd. Announces Cash Dividend on Share A for the Year 2023, Payable on July 9, 2024 DHC Software Co.,Ltd. announced Cash dividend/10 shares (tax included): CNY 0.50000000 on share A for the year 2023. Record date: 08 July 2024, Ex-date: 09 July 2024, Payment date: 09 July 2024. Aankondiging • Jun 29
DHC Software Co.,Ltd. to Report First Half, 2024 Results on Aug 28, 2024 DHC Software Co.,Ltd. announced that they will report first half, 2024 results on Aug 28, 2024 Aankondiging • Jun 15
Guangzhou Baiyun Financial Holding Group Co., Ltd. signed a letter of intent to acquire 24.03% stake in DH Bitech-IoT Co., Ltd. from a group of shareholders. Guangzhou Baiyun Financial Holding Group Co., Ltd. signed a letter of intent to acquire 24.03% stake in DH Bitech-IoT Co., Ltd. from a group of shareholders on June 13, 2024. As of March 31, 2024, DH Bitech-IoT Co., Ltd. generated total assets of CNY 445.4 million and net assets of CNY 264.2 million. Reported Earnings • Apr 12
Full year 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.13 in FY 2022) Full year 2023 results: EPS: CN¥0.14 (up from CN¥0.13 in FY 2022). Revenue: CN¥11.5b (down 2.6% from FY 2022). Net income: CN¥438.4m (up 9.4% from FY 2022). Profit margin: 3.8% (up from 3.4% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year. Aankondiging • Mar 30
DHC Software Co.,Ltd. to Report Q1, 2024 Results on Apr 24, 2024 DHC Software Co.,Ltd. announced that they will report Q1, 2024 results on Apr 24, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥4.34, the stock trades at a trailing P/E ratio of 30.6x. Average trailing P/E is 44x in the IT industry in China. Total loss to shareholders of 37% over the past three years. Aankondiging • Dec 30
DHC Software Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 12, 2024 DHC Software Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 12, 2024 New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 14% 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 14% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.03 (vs CN¥0.029 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.03 (up from CN¥0.029 in 3Q 2022). Revenue: CN¥2.31b (down 16% from 3Q 2022). Net income: CN¥97.1m (up 5.3% from 3Q 2022). Profit margin: 4.2% (up from 3.4% in 3Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 20% growth forecast for the IT industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CN¥0.095 (vs CN¥0.085 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.095 (up from CN¥0.085 in 2Q 2022). Revenue: CN¥2.33b (up 1.6% from 2Q 2022). Net income: CN¥303.2m (up 11% from 2Q 2022). Profit margin: 13% (up from 12% in 2Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 19% growth forecast for the IT industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year. Aankondiging • Jul 01
DHC Software Co.,Ltd. Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 07 July 2023 DHC Software Co.,Ltd. announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 0.50000000 for the year 2022, payable on 07 July 2023. Record date is 06 July 2023. Ex-date is 07 July 2023. Reported Earnings • Apr 12
Full year 2022 earnings released: EPS: CN¥0.13 (vs CN¥0.14 in FY 2021) Full year 2022 results: EPS: CN¥0.13 (down from CN¥0.14 in FY 2021). Revenue: CN¥11.8b (up 8.7% from FY 2021). Net income: CN¥400.9m (down 13% from FY 2021). Profit margin: 3.4% (down from 4.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 16% per year. Board Change • Mar 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 7 highly experienced directors. Independent Director Yipeng Wang was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.029 (vs CN¥0.073 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.029 (down from CN¥0.073 in 3Q 2021). Revenue: CN¥2.74b (up 21% from 3Q 2021). Net income: CN¥92.2m (down 59% from 3Q 2021). Profit margin: 3.4% (down from 10% in 3Q 2021). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 20% growth forecast for the IT industry in China. Over the last 3 years on average, earnings per share has fallen by 23% 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. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.085 (vs CN¥0.11 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.085 (down from CN¥0.11 in 2Q 2021). Revenue: CN¥2.30b (down 7.7% from 2Q 2021). Net income: CN¥272.3m (down 20% from 2Q 2021). Profit margin: 12% (down from 14% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 22%, compared to a 24% growth forecast for the IT 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 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 11
Upcoming dividend of CN¥0.05 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 18 July 2022. Payout ratio is a comfortable 35% and the cash payout ratio is 89%. Trailing yield: 0.8%. Lower than top quartile of Chinese dividend payers (2.0%). In line with average of industry peers (0.7%). Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.037 (vs CN¥0.036 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.037 (up from CN¥0.036 in 1Q 2021). Revenue: CN¥2.29b (up 13% from 1Q 2021). Net income: CN¥119.1m (up 5.3% from 1Q 2021). Profit margin: 5.2% (down from 5.6% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 25% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥8.24, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 28x in the IT industry in China. Total returns to shareholders of 19% over the past three years. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.073 (vs CN¥0.069 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: CN¥2.26b (up 17% from 3Q 2020). Net income: CN¥227.4m (up 6.3% from 3Q 2020). Profit margin: 10% (down from 11% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Board Change • Sep 22
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Erkui Liu was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.078 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥2.49b (up 30% from 2Q 2020). Net income: CN¥340.2m (up 40% from 2Q 2020). Profit margin: 14% (up from 13% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.036 (vs CN¥0.051 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥2.03b (up 18% from 1Q 2020). Net income: CN¥113.1m (down 29% from 1Q 2020). Profit margin: 5.6% (down from 9.2% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥8.80 The company is down 19% from its price of CN¥10.88 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 IT industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.19 per share. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥445.4m, down 51% from the prior year. Total revenue was CN¥8.68b over the last 12 months, down 5.5% from the prior year. Is New 90 Day High Low • Oct 28
New 90-day low: CN¥9.99 The company is down 17% from its price of CN¥12.09 on 30 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.20 per share.