Board Change • May 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Chairman Song Gao was the last director to join the board, commencing their role in 2011. 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 • May 02
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: CN¥0.033 loss per share (down from CN¥0.022 loss in 1Q 2021). Revenue: CN¥8.40m (down 47% from 1Q 2021). Net loss: CN¥14.5m (loss widened 50% from 1Q 2021). Revenue missed analyst estimates by 47%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Chairman Song Gao was the last director to join the board, commencing their role in 2011. 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 • Oct 26
Third quarter 2021 earnings released: CN¥0.019 loss per share (vs CN¥0.008 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: CN¥29.7m (up 246% from 3Q 2020). Net loss: CN¥6.85m (loss widened 93% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 09
Second quarter 2021 earnings released: CN¥0.019 loss per share (vs CN¥0.016 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: CN¥19.8m (up 221% from 2Q 2020). Net loss: CN¥8.28m (loss widened 17% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Apr 29
First quarter 2021 earnings released: CN¥0.022 loss per share (vs CN¥0.02 loss in 1Q 2020) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2021 results: Revenue: CN¥15.7m (up 185% from 1Q 2020). Net loss: CN¥9.64m (loss widened 46% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: CN¥0.18 loss per share (vs CN¥0.10 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CN¥54.4m (down 57% from FY 2019). Net loss: CN¥77.3m (loss widened 71% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Announcement • Jan 21
Lawton Development Co., Ltd. to Report Fiscal Year 2020 Results on Mar 19, 2021 Lawton Development Co., Ltd. announced that they will report fiscal year 2020 results on Mar 19, 2021 Is New 90 Day High Low • Jan 11
New 90-day low: CN¥3.81 The company is down 27% from its price of CN¥5.19 on 13 October 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 8.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: CN¥4.77 The company is down 7.0% from its price of CN¥5.12 on 22 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Construction industry, which is also down 7.0% over the same period. Announcement • Sep 23
Beijing Dezhu Technology Development Co., Ltd. entered into an agreement to acquire unknown majority stake in Hainan Golden Coast Decoration Engineering Co., Ltd., Beijing Lawton Construction Engineering Co., Ltd., Hainan Silver Cedar Modern Agricultural Development Co., Ltd. and Hainan Yinguoxin Cultural Development Co., Ltd. from Lawton Development Co., Ltd (SHSE:600209) for CNY 99.2 million. Beijing Dezhu Technology Development Co., Ltd. entered into an agreement to acquire unknown majority stake in Hainan Golden Coast Decoration Engineering Co., Ltd., Beijing Lawton Construction Engineering Co., Ltd., Hainan Silver Cedar Modern Agricultural Development Co., Ltd. and Hainan Yinguoxin Cultural Development Co., Ltd. from Lawton Development Co., Ltd (SHSE:600209) for CNY 99.2 million on September 3, 2020. For the year ended December 31, 2019, four companies reported total assets of CNY 182.2 million and total common equity of CNY 122.3 million and total revenue of CNY 5.28 million. The transaction is subject to approval from shareholders of Lawton Development Co., Ltd. The transaction is approved by Board of Directors of Lawton Development Co., Ltd. The shareholders of Lawton Development Co., Ltd. approved the transaction on September 22, 2020. Announcement • Sep 17
Lawton Development Co., Ltd (SHSE:600209) completed the acquisition of 9.02% stake in Hainan Golden Coast Lawton Hotel Co., Ltd. from Hainan Gold Coast (Group) Co., Ltd. Lawton Development Co., Ltd (SHSE:600209) won a bid to acquire 9.02% stake in Hainan Golden Coast Lawton Hotel Co., Ltd. from Hainan Gold Coast (Group) Co., Ltd. for CNY 31.3 million on May 16, 2019. Lawton Development Co., Ltd participated in an auction and paid a bid guarantee of CNY 3.13 million as required. Lawton Development Co., Ltd won the bid for Hainan Gold Coast Group Co., Ltd.’s 9.02% stake held in Hainan Golden Coast Lawton Hotel Co., Ltd. in an open bid and obtained the network auction confirmation letter.
Lawton Development Co., Ltd (SHSE:600209) completed the acquisition of 9.02% stake in Hainan Golden Coast Lawton Hotel Co., Ltd. from Hainan Gold Coast (Group) Co., Ltd. on June 5, 2019. As on May 21, 2019, the court confirmed the winning bid of Lawton Development. Announcement • Sep 08
Zhejiang Shaoxing Jinjin Ledao Investment Partnership Enterprise (Limited Partnership) completed the acquisition of 7.84% stake in Lawton Development Co., Ltd (SHSE:600209) from Hainan Luoheng Electro Mechanics Engineering Equipment Installation Co. Ltd. Zhejiang Shaoxing Jinjin Ledao Investment Partnership Enterprise (Limited Partnership) entered into share transfer agreement to acquire 7.84% stake in Lawton Development Co., Ltd (SHSE:600209) from Hainan Luoheng Electro Mechanics Engineering Equipment Installation Co. Ltd for approximately CNY 210 million on June 3, 2020. Under the terms of the transaction, Zhejiang Shaoxing Jinjin Ledao will acquire 34.4 million shares at CNY 6.086 per share. In a related transaction, Suzhou Yonghui Longxing Equity Investment Partnership Enterprise (Limited Partnership) will acquire 12.16% stake in Lawton Development Co., Ltd from Hainan Luoheng Electro Mechanics Engineering Equipment Installation Co. Ltd and Lawton Development Co., Ltd will raise CNY 447.8 million to fund the projects.
Zhejiang Shaoxing Jinjin Ledao Investment Partnership Enterprise (Limited Partnership) completed the acquisition of 7.84% stake in Lawton Development Co., Ltd (SHSE:600209) from Hainan Luoheng Electro Mechanics Engineering Equipment Installation Co. Ltd on September 7, 2020. Announcement • Jul 17
Lawton Development Co., Ltd to Report First Half, 2020 Results on Aug 29, 2020 Lawton Development Co., Ltd announced that they will report first half, 2020 results on Aug 29, 2020 