Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.94, the stock trades at a forward P/E ratio of 1x. Average forward P/E is 13x in the Electronic industry in Hong Kong. Total loss to shareholders of 59% over the past three years. Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.006 (up from HK$20.25 loss in FY 2024). Revenue: HK$5.18b (down 7.3% from FY 2024). Net income: HK$120.4m (up HK$4.06b from FY 2024). Profit margin: 2.3% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 34%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 51% 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. Aankondiging • Mar 27
Tongda Group Holdings Limited, Annual General Meeting, May 29, 2026 Tongda Group Holdings Limited, Annual General Meeting, May 29, 2026. Aankondiging • Jan 16
Tongda Group Holdings Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 Tongda Group Holdings Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 New Risk • Dec 30
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$763.3m (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Price Target Changed • Oct 27
Price target increased by 9.8% to HK$6.75 Up from HK$6.15, the current price target is provided by 1 analyst. New target price is 42% above last closing price of HK$4.74. Stock is down 5.2% over the past year. The company is forecast to post earnings per share of HK$0.94 next year compared to a net loss per share of HK$20.25 last year. Board Change • Oct 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 3 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non-Executive Director Sze Irons was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 24
First half 2025 earnings released: EPS: HK$0.007 (vs HK$0.001 in 1H 2024) First half 2025 results: EPS: HK$0.007 (up from HK$0.001 in 1H 2024). Revenue: HK$2.48b (down 17% from 1H 2024). Net income: HK$63.4m (up 394% from 1H 2024). Profit margin: 2.6% (up from 0.4% in 1H 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 30
Price target increased by 9.8% to HK$0.12 Up from HK$0.11, the current price target is provided by 1 analyst. New target price is 9.8% above last closing price of HK$0.11. Stock is up 40% over the past year. The company is forecast to post earnings per share of HK$0.019 next year compared to a net loss per share of HK$0.40 last year. Aankondiging • Jul 11
Tongda Group Holdings Limited to Report First Half, 2025 Results on Aug 22, 2025 Tongda Group Holdings Limited announced that they will report first half, 2025 results on Aug 22, 2025 Aankondiging • Jul 09
Tongda Group Holdings Limited Announces Change in Composition of the Nomination Committee, Effective 7 July 2025 The board of directors of Tongda Group Holdings Limited hereby announces that with effect from 7 July 2025, Ms. Chan Sze Man has been appointed as a member of the nomination committee of the Board. Following the above changes, the Nomination Committee shall comprise one executive Director, three independent non-executive Directors and one non-executive Director, namely, Mr. Wang Ya Nan (Chairman of the Board and the Nomination Committee), Dr. Yu Sun Say, Mr. Cheung Wah Fung, Christopher, Mr. Ting Leung Huel, Stephen and Ms. Chan. Reported Earnings • Apr 26
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: HK$0.41 loss per share (further deteriorated from HK$0.13 loss in FY 2023). Revenue: HK$5.59b (down 14% from FY 2023). Net loss: HK$3.94b (loss widened 221% from FY 2023). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: HK$0.41 loss per share (further deteriorated from HK$0.13 loss in FY 2023). Revenue: HK$5.59b (down 14% from FY 2023). Net loss: HK$3.94b (loss widened 221% from FY 2023). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 27
Tongda Group Holdings Limited, Annual General Meeting, May 29, 2025 Tongda Group Holdings Limited, Annual General Meeting, May 29, 2025. Aankondiging • Jan 15
Tongda Group Holdings Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 Tongda Group Holdings Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 New Risk • Dec 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$769.1m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (HK$769.1m market cap, or US$99.0m). Reported Earnings • Sep 02
First half 2024 earnings released: EPS: HK$0.001 (vs HK$0.005 in 1H 2023) First half 2024 results: EPS: HK$0.001 (down from HK$0.005 in 1H 2023). Revenue: HK$2.99b (up 5.4% from 1H 2023). Net income: HK$12.8m (down 73% from 1H 2023). Profit margin: 0.4% (down from 1.7% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. New Risk • Jul 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$769.1m (US$98.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Aankondiging • Jul 17
Tongda Group Holdings Limited to Report First Half, 2024 Results on Aug 28, 2024 Tongda Group Holdings Limited announced that they will report first half, 2024 results on Aug 28, 2024 Aankondiging • Apr 04
Novo Tellus Capital Partners and 65 Equity Partners Holdings Pte. Ltd. acquired TDConnex from Tongda Group Holdings Limited. Novo Tellus Capital Partners and 65 Equity Partners Holdings Pte. Ltd. acquired TDConnex from Tongda Group Holdings Limited on April 3, 2024. Novo Tellus Capital Partners and 65 Equity Partners Holdings Pte. Ltd. completed the acquisition of TDConnex from Tongda Group Holdings Limited on April 3, 2024. Aankondiging • Mar 28
Tongda Group Holdings Limited, Annual General Meeting, May 29, 2024 Tongda Group Holdings Limited, Annual General Meeting, May 29, 2024. Reported Earnings • Mar 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: HK$0.13 loss per share (down from HK$0.042 profit in FY 2022). Revenue: HK$6.52b (down 14% from FY 2022). Net loss: HK$1.23b (down 401% from profit in FY 2022). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to stay flat during the next 2 years compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 21 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 06
Tongda Group Holdings Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Tongda Group Holdings Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 New Risk • Nov 08
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 Hong Kong stocks, typically moving 9.8% 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 are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Large one-off items impacting financial results. Price Target Changed • Sep 11
Price target decreased by 15% to HK$0.17 Down from HK$0.20, the current price target is provided by 1 analyst. New target price is 107% above last closing price of HK$0.082. Stock is down 27% over the past year. The company is forecast to post earnings per share of HK$0.018 for next year compared to HK$0.042 last year. Reported Earnings • Aug 29
First half 2023 earnings released: EPS: HK$0.005 (vs HK$0.003 in 1H 2022) First half 2023 results: EPS: HK$0.005 (up from HK$0.003 in 1H 2022). Revenue: HK$2.83b (down 34% from 1H 2022). Net income: HK$47.6m (up 43% from 1H 2022). Profit margin: 1.7% (up from 0.8% in 1H 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electronic industry in Hong Kong. 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 44% per year, which means it is performing significantly worse than earnings. New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.6% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 4.6% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Aankondiging • Jul 29
Tongda Group Holdings Limited to Report First Half, 2023 Results on Aug 28, 2023 Tongda Group Holdings Limited announced that they will report first half, 2023 results on Aug 28, 2023 Price Target Changed • Jul 14
Price target increased by 14% to HK$0.20 Up from HK$0.17, the current price target is provided by 1 analyst. New target price is 133% above last closing price of HK$0.086. Stock is down 36% over the past year. The company is forecast to post earnings per share of HK$0.036 for next year compared to HK$0.042 last year. Reported Earnings • Mar 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: HK$0.042 (up from HK$0.029 in FY 2021). Revenue: HK$7.56b (down 24% from FY 2021). Net income: HK$408.9m (up 79% from FY 2021). Profit margin: 5.4% (up from 2.3% in FY 2021). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Price Target Changed • Mar 30
Price target decreased by 23% to HK$0.13 Down from HK$0.17, the current price target is an average from 2 analysts. New target price is 12% above last closing price of HK$0.12. Stock is down 30% over the past year. The company is forecast to post earnings per share of HK$0.023 for next year compared to HK$0.029 last year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Sun Say Yu was the last independent director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Nov 09
Price target decreased to HK$0.14 Down from HK$0.17, the current price target is an average from 4 analysts. New target price is 59% above last closing price of HK$0.091. Stock is down 65% over the past year. The company is forecast to post earnings per share of HK$0.024 for next year compared to HK$0.029 last year. Major Estimate Revision • Sep 06
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$10.1b to HK$9.28b. EPS estimate also fell from HK$0.03 per share to HK$0.02 per share. Net income forecast to grow 31% next year vs 16% growth forecast for Electronic industry in Hong Kong. Consensus price target down from HK$0.18 to HK$0.17. Share price fell 6.6% to HK$0.11 over the past week. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: HK$0.003 (vs HK$0.008 in 1H 2021) First half 2022 results: EPS: HK$0.003 (down from HK$0.008 in 1H 2021). Revenue: HK$4.27b (down 17% from 1H 2021). Net income: HK$33.2m (down 39% from 1H 2021). Profit margin: 0.8% (down from 1.1% in 1H 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 18%, compared to a 8.1% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Price Target Changed • Jun 24
Price target decreased to HK$0.18 Down from HK$0.21, the current price target is an average from 4 analysts. New target price is 17% above last closing price of HK$0.15. Stock is down 68% over the past year. The company is forecast to post earnings per share of HK$0.028 for next year compared to HK$0.029 last year. Major Estimate Revision • Jun 15
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$10.5b to HK$10.1b. EPS estimate also fell from HK$0.04 per share to HK$0.03 per share. Net income forecast to grow 11% next year vs 19% growth forecast for Electronic industry in Hong Kong. Consensus price target broadly unchanged at HK$0.21. Share price rose 4.2% to HK$0.15 over the past week. Major Estimate Revision • May 27
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from HK$10.7b to HK$10.5b. EPS estimate also fell from HK$0.04 per share to HK$0.04 per share. Net income forecast to grow 28% next year vs 22% growth forecast for Electronic industry in Hong Kong. Consensus price target down from HK$0.24 to HK$0.21. Share price fell 8.2% to HK$0.14 over the past week. Price Target Changed • Apr 27
Price target decreased to HK$0.30 Down from HK$0.36, the current price target is an average from 5 analysts. New target price is 136% above last closing price of HK$0.13. Stock is down 78% over the past year. The company is forecast to post earnings per share of HK$0.042 for next year compared to HK$0.029 last year. Board Change • Apr 27
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 Non-Executive Director Sun Say Yu was the last independent director to join the board, commencing their role in 2007. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: HK$0.029 (down from HK$0.054 in FY 2020). Revenue: HK$9.97b (up 2.2% from FY 2020). Net income: HK$228.2m (down 35% from FY 2020). Profit margin: 2.3% (down from 3.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 38%. Over the next year, revenue is forecast to grow 18%, compared to a 13% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Price Target Changed • Oct 06
Price target decreased to HK$0.51 Down from HK$0.58, the current price target is an average from 7 analysts. New target price is 110% above last closing price of HK$0.24. Stock is down 44% over the past year. Reported Earnings • Aug 30
First half 2021 earnings released: EPS HK$0.008 (vs HK$0.004 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$5.12b (up 28% from 1H 2020). Net income: HK$54.2m (up 87% from 1H 2020). Profit margin: 1.1% (up from 0.7% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 40% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS HK$0.054 (vs HK$0.062 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: HK$9.76b (up 6.2% from FY 2019). Net income: HK$351.3m (down 13% from FY 2019). Profit margin: 3.6% (down from 4.4% 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 59% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 07
Full year 2020 earnings released: EPS HK$0.054 (vs HK$0.062 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: HK$9.76b (up 6.2% from FY 2019). Net income: HK$351.3m (down 13% from FY 2019). Profit margin: 3.6% (down from 4.4% 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 59% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 07
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 6.9%, compared to a 13% growth forecast for the Electronic industry in Hong Kong. Is New 90 Day High Low • Jan 05
New 90-day high: HK$0.63 The company is up 45% from its price of HK$0.43 on 07 October 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$0.18 per share. Price Target Changed • Jan 01
Price target raised to HK$0.53 Up from HK$0.50, the current price target is an average from 9 analysts. The new target price is 6.5% below the current share price of HK$0.57. As of last close, the stock is down 42% over the past year. Is New 90 Day High Low • Dec 16
New 90-day high: HK$0.53 The company is up 26% from its price of HK$0.42 on 17 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$0.15 per share. Is New 90 Day High Low • Oct 27
New 90-day low: HK$0.41 The company is down 8.0% from its price of HK$0.45 on 29 July 2020. The Hong Kong market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$0.17 per share. 