Announcement • May 30
Hicon Network Technology (Shandong) Co., Ltd. Proposes Cash Dividend for 2025 Hicon Network Technology (Shandong) Co. Ltd. at its 2025 Annual General Meeting to be held on 17 June 2026 proposed Cash dividend/10 shares for 2025 (tax included): CNY 0.50000000. Announcement • May 28
Hicon Network Technology (Shandong) Co.,Ltd., Annual General Meeting, Jun 17, 2026 Hicon Network Technology (Shandong) Co.,Ltd., Annual General Meeting, Jun 17, 2026, at 15:00 China Standard Time. Location: Building 5, No. 9777, Jingshi Road, Lixia District, Jinan, Shandong China New Risk • Apr 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 64% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (64% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 11x cash flows per share). Share price has been volatile over the past 3 months (9.3% average weekly change).