Announcement • Apr 28
Shanghai Ganglian E-Commerce Holdings Co., Ltd., Annual General Meeting, May 18, 2026 Shanghai Ganglian E-Commerce Holdings Co., Ltd., Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: Building No. 1, No. 68, Yuanfeng Road, Baoshan District, Shanghai China Announcement • Mar 31
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 New Risk • Mar 27
New major risk - Revenue and earnings growth Earnings have declined by 1.0% 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 1.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Large one-off items impacting financial results. New Risk • Mar 04
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. New Risk • Feb 05
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 Chinese stocks, typically moving 7.5% 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: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CN¥32.66, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 12x in the Trade Distributors industry in China. Total returns to shareholders of 31% over the past three years. Announcement • Dec 31
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Fiscal Year 2025 Results on Apr 03, 2026 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report fiscal year 2025 results on Apr 03, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.15 (vs CN¥0.13 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.15 (up from CN¥0.13 in 3Q 2024). Revenue: CN¥22.9b (up 13% from 3Q 2024). Net income: CN¥49.1m (up 14% from 3Q 2024). Profit margin: 0.2% (in line with 3Q 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Sep 30
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Q3, 2025 Results on Oct 28, 2025 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report Q3, 2025 results on Oct 28, 2025 Announcement • Sep 16
Shanghai Ganglian E-Commerce Holdings Co., Ltd. Approves Interim Dividend for 2025 Shanghai Ganglian E-Commerce Holdings Co., Ltd. approved interim Cash dividend/10 shares (tax included): CNY0.50000000 for 2025. New Risk • Jul 11
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 Chinese stocks, typically moving 7.0% 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: Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥28.21, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 15x in the Trade Distributors industry in China. Total returns to shareholders of 64% over the past three years. Announcement • Jul 02
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Price Target Changed • May 30
Price target decreased by 7.9% to CN¥30.78 Down from CN¥33.43, the current price target is provided by 1 analyst. New target price is 49% above last closing price of CN¥20.59. Stock is up 6.4% over the past year. The company is forecast to post earnings per share of CN¥0.70 for next year compared to CN¥0.50 last year. Announcement • Apr 25
Shanghai Ganglian E-Commerce Holdings Co., Ltd. (SZSE:300226) agreed to acquire remaining 40% stake in Shanghai Mulian Data Technology Co., Ltd. from Shanghai Xintonglian Packaging Co., Ltd. (SHSE:603022) for CNY 20.76 million. Shanghai Ganglian E-Commerce Holdings Co., Ltd. (SZSE:300226) agreed to acquire remaining 40% stake in Shanghai Mulian Data Technology Co., Ltd. from Shanghai Xintonglian Packaging Co., Ltd. (SHSE:603022) for CNY 20.76 million on April 24, 2025. A cash consideration of CNY 20.76 million will be paid by Shanghai Ganglian E-Commerce Holdings Co., Ltd. As part of consideration, CNY 20.76 million is paid towards common equity of Shanghai Mulian Data Technology Co., Ltd. Upon completion, Shanghai Ganglian E-Commerce Holdings Co., Ltd. will own 100% stake in Shanghai Mulian Data Technology Co., Ltd. The transaction will be financed through equity investment of CNY 20.76 million. As of March 31, 2025, Shanghai Mulian Data Technology Co., Ltd. reported total assets of CNY 52.45 million and total common equity of CNY 52.19 million. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥19.18, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 14x in the Trade Distributors industry in China. Total loss to shareholders of 3.1% over the past three years. Reported Earnings • Apr 03
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.50 (down from CN¥0.75 in FY 2023). Revenue: CN¥81.3b (down 5.8% from FY 2023). Net income: CN¥161.4m (down 33% from FY 2023). Profit margin: 0.2% (down from 0.3% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 4% per year. Announcement • Apr 03
Shanghai Ganglian E-Commerce Holdings Co., Ltd., Annual General Meeting, Apr 23, 2025 Shanghai Ganglian E-Commerce Holdings Co., Ltd., Annual General Meeting, Apr 23, 2025, at 14:30 China Standard Time. Location: Building 1, No. 68, Yuanfeng Road, Baoshan District, Shanghai China Announcement • Mar 31
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 New Risk • Feb 17
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 Chinese stocks, typically moving 8.4% 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: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥29.92, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 17x in the Trade Distributors industry in China. Total returns to shareholders of 22% over the past three years. Announcement • Dec 31
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Fiscal Year 2024 Results on Apr 03, 2025 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report fiscal year 2024 results on Apr 03, 2025 Announcement • Dec 12
Shanghai Ganglian E-Commerce Holdings Co., Ltd. (SZSE:300226) announces an Equity Buyback for 40,000,000 shares. Shanghai Ganglian E-Commerce Holdings Co., Ltd. (SZSE:300226) announces a share repurchase program. Under the program, the company will repurchase up to 40,000,000 shares. The shares will be repurchased at no more than CNY 2.5 per share. The purpose of the program is to for protecti the company’s value and shareholders’ interest. The repurchased shares will be cancelled and registered capital is reduced. The program will be funded from company's own funds. The program will be valid for 12 months. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: CN¥0.13 (vs CN¥0.15 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.13 (down from CN¥0.15 in 3Q 2023). Revenue: CN¥20.3b (down 26% from 3Q 2023). Net income: CN¥43.2m (down 10.0% from 3Q 2023). Profit margin: 0.2% (in line with 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥29.00, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 10x in the Trade Distributors industry in China. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.91 per share. Buy Or Sell Opportunity • Oct 18
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 76% to CN¥29.00. The fair value is estimated to be CN¥22.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 5.3%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 84% in the next 2 years. New Risk • Sep 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Announcement • Sep 30
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CN¥19.85, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Trade Distributors industry in China. Total loss to shareholders of 40% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥20.33 per share. Price Target Changed • Aug 28
Price target decreased by 10% to CN¥26.78 Down from CN¥29.87, the current price target is an average from 2 analysts. New target price is 75% above last closing price of CN¥15.27. Stock is down 58% over the past year. The company is forecast to post earnings per share of CN¥0.86 for next year compared to CN¥0.75 last year. Announcement • Jul 18
Shanghai Ganglian E-Commerce Holdings Co., Ltd. (SZSE:300226) announces an Equity Buyback for CNY 50 million worth of its shares. Shanghai Ganglian E-Commerce Holdings Co., Ltd. (SZSE:300226) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at no more than CNY 25 per share. The purpose of the program is to for protecti the company’s value and shareholders’ interest. The program will be funded from company's own funds. The program will be valid for 3 months. Announcement • Jun 29
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Board Change • May 29
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Yuan Yao was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 24
Dividend of CN¥0.08 announced Shareholders will receive a dividend of CN¥0.08. Ex-date: 29th May 2024 Payment date: 29th May 2024 Dividend yield will be 0.4%, which is lower than the industry average of 5.4%. Sustainability & Growth Dividend is well covered by both earnings (11% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 76% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 17
Price target decreased by 15% to CN¥30.79 Down from CN¥36.12, the current price target is an average from 2 analysts. New target price is 58% above last closing price of CN¥19.52. Stock is down 53% over the past year. The company is forecast to post earnings per share of CN¥0.89 for next year compared to CN¥0.75 last year. New Risk • Apr 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 37% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 11
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CN¥0.75 (up from CN¥0.63 in FY 2022). Revenue: CN¥86.3b (up 13% from FY 2022). Net income: CN¥240.3m (up 18% from FY 2022). Profit margin: 0.3% (in line with FY 2022). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.5%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Apr 10
Shanghai Ganglian E-Commerce Holdings Co., Ltd., Annual General Meeting, Apr 30, 2024 Shanghai Ganglian E-Commerce Holdings Co., Ltd., Annual General Meeting, Apr 30, 2024, at 14:30 China Standard Time. Location: Building 1, No. 68, Yuanfeng Road, Baoshan District, Shanghai China Announcement • Mar 30
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥21.52, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 10x in the Trade Distributors industry in China. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥18.18, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 8x in the Trade Distributors industry in China. Total loss to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥21.22, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 8x in the Trade Distributors industry in China. Total loss to shareholders of 37% over the past three years. Announcement • Dec 30
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Fiscal Year 2023 Results on Apr 10, 2024 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report fiscal year 2023 results on Apr 10, 2024 Price Target Changed • Oct 25
Price target decreased by 23% to CN¥34.59 Down from CN¥44.71, the current price target is provided by 1 analyst. New target price is 38% above last closing price of CN¥25.02. Stock is up 57% over the past year. The company is forecast to post earnings per share of CN¥0.75 for next year compared to CN¥0.63 last year. Reported Earnings • Oct 24
Third quarter 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.14 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.15 (up from CN¥0.14 in 3Q 2022). Revenue: CN¥27.5b (up 33% from 3Q 2022). Net income: CN¥48.0m (up 5.0% from 3Q 2022). Profit margin: 0.2% (in line with 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Q3, 2023 Results on Oct 24, 2023 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report Q3, 2023 results on Oct 24, 2023 New Risk • Sep 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 40% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.20 (vs CN¥0.17 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.20 (up from CN¥0.17 in 2Q 2022). Revenue: CN¥21.5b (down 5.5% from 2Q 2022). Net income: CN¥64.3m (up 20% from 2Q 2022). Profit margin: 0.3% (up from 0.2% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥34.32, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 11x in the Trade Distributors industry in China. Total loss to shareholders of 29% over the past three years. Announcement • Jul 01
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report First Half, 2023 Results on Jul 29, 2023 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report first half, 2023 results on Jul 29, 2023 Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥38.05, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 10x in the Trade Distributors industry in China. Total loss to shareholders of 3.0% over the past three years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥43.66, the stock trades at a forward P/E ratio of 49x. Average forward P/E is 6x in the Trade Distributors industry in China. Total loss to shareholders of 4.8% over the past three years. Reported Earnings • Apr 14
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: CN¥0.76 (up from CN¥0.67 in FY 2021). Revenue: CN¥76.6b (up 16% from FY 2021). Net income: CN¥203.1m (up 14% from FY 2021). Profit margin: 0.3% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Trade Distributors industry in China. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥36.33, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 7x in the Trade Distributors industry in China. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥24.68, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 9x in the Trade Distributors industry in China. Total loss to shareholders of 46% over the past three years. Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. Supervisor Ye Song is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.16 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.12. Revenue: CN¥20.7b (up 16% from 3Q 2021). Net income: CN¥45.7m (up 5.0% from 3Q 2021). Profit margin: 0.2% (in line with 3Q 2021). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Trade Distributors industry in China. Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: CN¥0.38 (vs CN¥0.26 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.38. Revenue: CN¥22.8b (up 34% from 2Q 2021). Net income: CN¥53.5m (down 22% from 2Q 2021). Profit margin: 0.2% (down from 0.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.1%, compared to a 32% growth forecast for the industry in China. Announcement • May 13
Shanghai Ganglian E-Commerce Holdings Co., Ltd. Implements Cash Dividend (A Shares) for 2021, Payable on May 19, 2022 Shanghai Ganglian E-Commerce Holdings Co., Ltd. implemented cash dividend (A shares) of CNY 1.00000000 per 10 shares (tax included) for 2021, payable on May 19, 2022 with record date of May 18, 2022 and ex-date of May 19, 2022. Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.20 (down from CN¥0.24 in 1Q 2021). Revenue: CN¥15.5b (up 37% from 1Q 2021). Net income: CN¥38.7m (down 14% from 1Q 2021). Profit margin: 0.2% (down from 0.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 34%. Over the next year, revenue is forecast to grow 7.5%, compared to a 27% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to CN¥48.52 Down from CN¥83.38, the current price target is an average from 2 analysts. New target price is 80% above last closing price of CN¥26.99. Stock is down 60% over the past year. The company is forecast to post earnings per share of CN¥1.14 for next year compared to CN¥0.93 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. Supervisor Haining Mu is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.93 (down from CN¥1.14 in FY 2020). Revenue: CN¥65.8b (up 12% from FY 2020). Net income: CN¥178.0m (down 18% from FY 2020). Profit margin: 0.3% (down from 0.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 34%. Over the next year, revenue is forecast to grow 35%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥33.07, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Trade Distributors industry in China. Total loss to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥47.40, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 19x in the Trade Distributors industry in China. Total returns to shareholders of 11% over the past three years. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.23 (vs CN¥0.28 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥17.9b (up 5.7% from 3Q 2020). Net income: CN¥43.5m (down 18% from 3Q 2020). Profit margin: 0.2% (down from 0.3% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥46.60, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Trade Distributors industry in China. Total returns to shareholders of 29% over the past three years. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS CN¥0.36 (vs CN¥0.32 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: CN¥17.0b (down 3.3% from 2Q 2020). Net income: CN¥68.9m (up 12% from 2Q 2020). Profit margin: 0.4% (up from 0.3% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 29
Shanghai Ganglian E-Commerce Holdings Co., Ltd. Announces to Implement Final Cash Distribution Plan for 2020, Payable on 4 June 2021 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced 2020final distribution plan to be implemented. The company announced cash dividend (tax included) of CNY 1.300000 per 10 A Shares for the year 2020. Record date is 3 June 2021; ex-date is 4 June 2021 and payment date is 4 June 2021. Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.18 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥11.3b (up 78% from 1Q 2020). Net income: CN¥45.2m (up 29% from 1Q 2020). Profit margin: 0.4% (down from 0.6% 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 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 01
Full year 2020 earnings released: EPS CN¥1.14 (vs CN¥0.95 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥58.5b (down 52% from FY 2019). Net income: CN¥216.7m (up 20% from FY 2019). Profit margin: 0.4% (up from 0.1% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥61.64, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 14x in the Trade Distributors industry in China. Total returns to shareholders of 3.5% over the past three years. Is New 90 Day High Low • Mar 15
New 90-day low: CN¥52.14 The company is down 23% from a price of CN¥67.29 on 15 December 2020. Underperformed the Chinese market, which is flat over the last 90 days. Lagged the Trade Distributors industry, which is down 4.0% over the same period. Announcement • Feb 24
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report Fiscal Year 2020 Results on Apr 01, 2021 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report fiscal year 2020 results on Apr 01, 2021 Is New 90 Day High Low • Jan 28
New 90-day low: CN¥53.48 The company is down 20% from its price of CN¥66.49 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.04 per share. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥56.61 The company is down 17% from its price of CN¥68.48 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 Trade Distributors industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.05 per share. Is New 90 Day High Low • Dec 25
New 90-day low: CN¥61.00 The company is down 11% from its price of CN¥68.50 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.06 per share. Is New 90 Day High Low • Nov 06
New 90-day low: CN¥63.02 The company is down 20% from its price of CN¥78.60 on 07 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.98 per share. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥187.0m, up 12% from the prior year. Total revenue was CN¥82.4b over the last 12 months, down 22% from the prior year. Is New 90 Day High Low • Oct 15
New 90-day low: CN¥65.40 The company is down 19% from its price of CN¥81.05 on 17 July 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.98 per share. Announcement • Aug 06
Shanghai Ganglian E-Commerce Holdings Co., Ltd. to Report First Half, 2020 Results on Aug 25, 2020 Shanghai Ganglian E-Commerce Holdings Co., Ltd. announced that they will report first half, 2020 results on Aug 25, 2020 
