New Risk • Apr 29
New major risk - Revenue and earnings growth Earnings have declined by 17% 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 17% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 29
First quarter 2026 earnings released: EPS: CN¥0.09 (vs CN¥0.29 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.09 (down from CN¥0.29 in 1Q 2025). Revenue: CN¥979.2m (down 17% from 1Q 2025). Net income: CN¥15.7m (down 60% from 1Q 2025). Profit margin: 1.6% (down from 3.3% in 1Q 2025). The decrease in margin was driven by lower revenue. Announcement • Apr 28
Haiyang Technology Co., Ltd., Annual General Meeting, May 19, 2026 Haiyang Technology Co., Ltd., Annual General Meeting, May 19, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Taizhou, Jiangsu China