New Risk • Apr 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CN¥183m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 29
Full year 2025 earnings released: CN¥0.35 loss per share (vs CN¥0.28 loss in FY 2024) Full year 2025 results: CN¥0.35 loss per share (further deteriorated from CN¥0.28 loss in FY 2024). Revenue: CN¥655.1m (down 20% from FY 2024). Net loss: CN¥191.2m (loss widened 26% from FY 2024). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Cedar Development Co.,Ltd., Annual General Meeting, May 25, 2026 Cedar Development Co.,Ltd., Annual General Meeting, May 25, 2026, at 14:00 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Announcement • Mar 31
Cedar Development Co.,Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Cedar Development Co.,Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Announcement • Dec 31
Cedar Development Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Cedar Development Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 New Risk • Dec 06
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 7.2% 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 have declined by 0.1% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Reported Earnings • Oct 31
Third quarter 2025 earnings released: CN¥0.044 loss per share (vs CN¥0.031 loss in 3Q 2024) Third quarter 2025 results: CN¥0.044 loss per share (further deteriorated from CN¥0.031 loss in 3Q 2024). Revenue: CN¥173.4m (down 13% from 3Q 2024). Net loss: CN¥24.0m (loss widened 44% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Cedar Development Co.,Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Cedar Development Co.,Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 New Risk • Jul 10
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 6.8% 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 have declined by 13% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Announcement • Jul 02
Cedar Development Co.,Ltd. to Report First Half, 2025 Results on Aug 30, 2025 Cedar Development Co.,Ltd. announced that they will report first half, 2025 results on Aug 30, 2025 New Risk • May 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥293m free cash flow). Earnings have declined by 29% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Announcement • Apr 29
Cedar Development Co.,Ltd., Annual General Meeting, May 27, 2025 Cedar Development Co.,Ltd., Annual General Meeting, May 27, 2025, at 14:00 China Standard Time. Announcement • Mar 31
Cedar Development Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Cedar Development Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Announcement • Dec 31
Cedar Development Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 28, 2025 Cedar Development Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: CN¥0.031 loss per share (vs CN¥0.035 loss in 3Q 2023) Third quarter 2024 results: CN¥0.031 loss per share (improved from CN¥0.035 loss in 3Q 2023). Revenue: CN¥199.1m (up 18% from 3Q 2023). Net loss: CN¥16.6m (loss narrowed 12% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Cedar Development Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Cedar Development Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 31
Second quarter 2024 earnings released: CN¥0.024 loss per share (vs CN¥0.019 loss in 2Q 2023) Second quarter 2024 results: CN¥0.024 loss per share (further deteriorated from CN¥0.019 loss in 2Q 2023). Revenue: CN¥251.1m (down 17% from 2Q 2023). Net loss: CN¥13.3m (loss widened 27% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Cedar Development Co.,Ltd. to Report First Half, 2024 Results on Aug 31, 2024 Cedar Development Co.,Ltd. announced that they will report first half, 2024 results on Aug 31, 2024 Reported Earnings • May 01
First quarter 2024 earnings released: CN¥0.012 loss per share (vs CN¥0.11 profit in 1Q 2023) First quarter 2024 results: CN¥0.012 loss per share (down from CN¥0.11 profit in 1Q 2023). Revenue: CN¥167.4m (down 11% from 1Q 2023). Net loss: CN¥6.46m (down 111% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • May 01
Cedar Development Co.,Ltd., Annual General Meeting, May 31, 2024 Cedar Development Co.,Ltd., Annual General Meeting, May 31, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Announcement • Mar 30
Cedar Development Co.,Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Cedar Development Co.,Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Dec 30
Cedar Development Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 30, 2024 Cedar Development Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 30, 2024 Board Change • Nov 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Secretary of the Board of Directors & Non-Independent Director Yueming Liang 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. Reported Earnings • Aug 31
Second quarter 2023 earnings released: CN¥0.019 loss per share (vs CN¥0.007 loss in 2Q 2022) Second quarter 2023 results: CN¥0.019 loss per share (further deteriorated from CN¥0.007 loss in 2Q 2022). Revenue: CN¥301.8m (down 73% from 2Q 2022). Net loss: CN¥10.5m (loss widened 184% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Announcement • May 06
Cedar Development Co.,Ltd., Annual General Meeting, May 25, 2023 Cedar Development Co.,Ltd., Annual General Meeting, May 25, 2023, at 14:30 China Standard Time. Agenda: To consider 2022 work report of the board of directors; to consider 2022 work report of the supervisory committee; to consider 2022 annual report and its summary; to consider 2022 annual accounts; to consider 2022 profit distribution plan; to consider 2023 total financing quota and guarantee; to consider 2023 estimated continuing connected transactions; to consider remuneration for directors and supervisors; to consider continuing leasing or selling stores; to consider additional external financial aid by controlled subsidiaries; to consider unrecovered losses account for one-third of the paid-in capital; and to consider reappointment of audit firm. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.004 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.11 (up from CN¥0.004 loss in 1Q 2022). Revenue: CN¥188.1m (down 42% from 1Q 2022). Net income: CN¥60.4m (up CN¥62.7m from 1Q 2022). Profit margin: 32% (up from net loss in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
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. 10 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Deputy GM, Secretary of the Board of Directors & Director Xin Dong was the last director to join the board, commencing their role in 2019. 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 30
Third quarter 2022 earnings released: CN¥0.026 loss per share (vs CN¥0.004 loss in 3Q 2021) Third quarter 2022 results: CN¥0.026 loss per share (further deteriorated from CN¥0.004 loss in 3Q 2021). Revenue: CN¥185.4m (down 75% from 3Q 2021). Net loss: CN¥14.3m (loss widened CN¥12.3m from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 02
Second quarter 2022 earnings released: CN¥0.007 loss per share (vs CN¥0.003 profit in 2Q 2021) Second quarter 2022 results: CN¥0.007 loss per share (down from CN¥0.003 profit in 2Q 2021). Revenue: CN¥1.12b (up 59% from 2Q 2021). Net loss: CN¥3.70m (down 341% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Announcement • May 07
Cedar Development Co., Ltd., Annual General Meeting, May 20, 2022 Cedar Development Co., Ltd., Annual General Meeting, May 20, 2022, at 14:30 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual report and its summary; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider Application for the total financing quota in 2022 and guarantee; to consider 2022 estimated continuing connected transactions; to consider Remuneration for directors and supervisors; to consider Continuing leasing or selling stores; and to consider Shareholder return plan for the next three years from 2022 to 2024. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.004 loss per share (up from CN¥0.009 loss in 1Q 2021). Revenue: CN¥324.1m (up 28% from 1Q 2021). Net loss: CN¥2.33m (loss narrowed 54% from 1Q 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) were also behind analyst expectations. 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. 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. 4 non-independent directors. Deputy GM, Secretary of the Board of Directors & Director Xin Dong was the last director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥3.34, the stock trades at a trailing P/E ratio of 65.5x. Average trailing P/E is 19x in the Luxury industry in China. Total loss to shareholders of 63% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: CN¥0.004 loss per share (vs CN¥0.016 profit in 3Q 2020) The company reported a decent third quarter result with improved revenues, although earnings and control over costs were weaker. Third quarter 2021 results: Revenue: CN¥749.2m (up 105% from 3Q 2020). Net loss: CN¥2.06m (down 123% from profit in 3Q 2020). Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.003 (vs CN¥0.029 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥707.0m (up 80% from 2Q 2020). Net income: CN¥1.54m (up CN¥17.5m from 2Q 2020). Profit margin: 0.2% (up from net loss in 2Q 2020). Reported Earnings • Apr 30
First quarter 2021 earnings released: CN¥0.009 loss per share (vs CN¥0.035 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: CN¥252.1m (down 9.5% from 1Q 2020). Net loss: CN¥5.07m (loss narrowed 74% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 02
New 90-day low: CN¥4.06 The company is down 17% from its price of CN¥4.91 on 04 November 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 13% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥4.76 The company is down 12% from its price of CN¥5.38 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 Luxury industry, which is down 11% over the same period. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥18.4m, with earnings decreasing by CN¥153.2m from the prior year. Total revenue was CN¥1.82b over the last 12 months, down 49% from the prior year. Is New 90 Day High Low • Oct 27
New 90-day low: CN¥5.24 The company is down 3.0% from its price of CN¥5.42 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 2.0% over the same period. Announcement • Oct 20
Sinoer Men's Wear Co., Ltd. to Report Q3, 2020 Results on Oct 28, 2020 Sinoer Men's Wear Co., Ltd. announced that they will report Q3, 2020 results on Oct 28, 2020 Announcement • Aug 12
Sinoer Men's Wear Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Sinoer Men's Wear Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020