Major Estimate Revision • Apr 30
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥2.59b to CN¥2.42b. EPS estimate also fell from CN¥0.405 per share to CN¥0.352 per share. Net income forecast to grow 22% next year vs 22% growth forecast for Hospitality industry in China. Consensus price target down from CN¥9.40 to CN¥8.90. Share price was steady at CN¥7.70 over the past week. Announcement • Apr 24
Songcheng Performance Development Co.,Ltd, Annual General Meeting, May 18, 2026 Songcheng Performance Development Co.,Ltd, Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: No. 148, Zhijiang Road, Hangzhou, Zhejiang China Price Target Changed • Apr 24
Price target decreased by 7.5% to CN¥8.94 Down from CN¥9.67, the current price target is an average from 7 analysts. New target price is 14% above last closing price of CN¥7.84. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥0.35 for next year compared to CN¥0.31 last year. Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: CN¥0.081 (vs CN¥0.094 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.081 (down from CN¥0.094 in 1Q 2025). Revenue: CN¥534.2m (down 4.8% from 1Q 2025). Net income: CN¥211.4m (down 14% from 1Q 2025). Profit margin: 40% (down from 44% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Mar 31
Songcheng Performance Development Co.,Ltd to Report Q1, 2026 Results on Apr 24, 2026 Songcheng Performance Development Co.,Ltd announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • Dec 31
Songcheng Performance Development Co.,Ltd to Report Fiscal Year 2025 Results on Apr 24, 2026 Songcheng Performance Development Co.,Ltd announced that they will report fiscal year 2025 results on Apr 24, 2026 Announcement • Dec 10
Songcheng Performance Development Co.,Ltd (SZSE:300144) announces an Equity Buyback for CNY 200 million worth of its shares. Songcheng Performance Development Co.,Ltd (SZSE:300144) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at no more than CNY 12 per share. The purpose of the program is to reduce the share capital by cancelling the repurchased shares. The program will be funded from company's own funds. The program is subject to approval from shareholders. The program will be valid for 12 months from the shareholders' approval. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥2.55b to CN¥2.33b. EPS estimate also fell from CN¥0.427 per share to CN¥0.343 per share. Net income forecast to grow 41% next year vs 39% growth forecast for Hospitality industry in China. Consensus price target broadly unchanged at CN¥10.17. Share price was steady at CN¥8.07 over the past week. Reported Earnings • Oct 28
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: CN¥0.14 (down from CN¥0.17 in 3Q 2024). Revenue: CN¥752.9m (down 9.9% from 3Q 2024). Net income: CN¥354.1m (down 23% from 3Q 2024). Profit margin: 47% (down from 55% in 3Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 6.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Songcheng Performance Development Co.,Ltd to Report Q3, 2025 Results on Oct 28, 2025 Songcheng Performance Development Co.,Ltd announced that they will report Q3, 2025 results on Oct 28, 2025 Major Estimate Revision • Sep 02
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥2.63b to CN¥2.36b. EPS estimate fell from CN¥0.449 to CN¥0.345 per share. Net income forecast to grow 22% next year vs 28% growth forecast for Hospitality industry in China. Consensus price target down from CN¥10.76 to CN¥10.40. Share price fell 2.5% to CN¥8.83 over the past week. Reported Earnings • Aug 28
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥0.058 (down from CN¥0.11 in 2Q 2024). Revenue: CN¥518.6m (down 16% from 2Q 2024). Net income: CN¥153.4m (down 49% from 2Q 2024). Profit margin: 30% (down from 48% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.4% to CN¥8.68. The fair value is estimated to be CN¥10.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Buy Or Sell Opportunity • Jul 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.8% to CN¥8.74. The fair value is estimated to be CN¥10.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Announcement • Jul 02
Songcheng Performance Development Co.,Ltd to Report First Half, 2025 Results on Aug 27, 2025 Songcheng Performance Development Co.,Ltd announced that they will report first half, 2025 results on Aug 27, 2025 Buy Or Sell Opportunity • Jun 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.5% to CN¥8.78. The fair value is estimated to be CN¥11.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Announcement • May 22
Songcheng Performance Development Co.,Ltd Approves Cash Dividend for 2024 Songcheng Performance Development Co.,Ltd in its Annual General Meeting of 2024 held on 20 May 2025 approved Cash dividend/10 shares (tax included): CNY 2.00000000. Buy Or Sell Opportunity • May 22
Now 20% undervalued Over the last 90 days, the stock has risen 1.6% to CN¥8.99. The fair value is estimated to be CN¥11.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Major Estimate Revision • May 01
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥2.78b to CN¥2.62b. EPS estimate also fell from CN¥0.491 per share to CN¥0.43 per share. Net income forecast to grow 16% next year vs 32% growth forecast for Hospitality industry in China. Consensus price target down from CN¥11.58 to CN¥11.20. Share price fell 5.0% to CN¥9.35 over the past week. Reported Earnings • Apr 26
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.18 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (down from CN¥0.18 in 3Q 2023). Revenue: CN¥836.0m (down 4.7% from 3Q 2023). Net income: CN¥457.4m (down 5.5% from 3Q 2023). Profit margin: 55% (in line with 3Q 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 4 years, compared to a 11% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 25
Songcheng Performance Development Co.,Ltd, Annual General Meeting, May 20, 2025 Songcheng Performance Development Co.,Ltd, Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Announcement • Mar 31
Songcheng Performance Development Co.,Ltd to Report Q1, 2025 Results on Apr 25, 2025 Songcheng Performance Development Co.,Ltd announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • Dec 31
Songcheng Performance Development Co.,Ltd to Report Fiscal Year 2024 Results on Apr 25, 2025 Songcheng Performance Development Co.,Ltd announced that they will report fiscal year 2024 results on Apr 25, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: CN¥0.17 (down from CN¥0.18 in 3Q 2023). Revenue: CN¥836.0m (down 4.7% from 3Q 2023). Net income: CN¥457.4m (down 5.5% from 3Q 2023). Profit margin: 55% (in line with 3Q 2023). Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) exceeded analyst estimates by 6.6%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Sep 30
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 8.1% 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 Dividend is not well covered by earnings (190% payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). Announcement • Sep 30
Songcheng Performance Development Co.,Ltd to Report Q3, 2024 Results on Oct 25, 2024 Songcheng Performance Development Co.,Ltd announced that they will report Q3, 2024 results on Oct 25, 2024 Price Target Changed • Sep 12
Price target decreased by 9.1% to CN¥11.26 Down from CN¥12.38, the current price target is an average from 9 analysts. New target price is 53% above last closing price of CN¥7.36. Stock is down 42% over the past year. The company is forecast to post earnings per share of CN¥0.45 next year compared to a net loss per share of CN¥0.042 last year. Reported Earnings • Aug 29
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥0.11 (up from CN¥0.093 in 2Q 2023). Revenue: CN¥617.8m (up 22% from 2Q 2023). Net income: CN¥298.7m (up 23% from 2Q 2023). Profit margin: 48% (in line with 2Q 2023). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Songcheng Performance Development Co.,Ltd to Report First Half, 2024 Results on Aug 29, 2024 Songcheng Performance Development Co.,Ltd announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • Jun 19
Dividend increased to CN¥0.10 Dividend of CN¥0.10 is 100% higher than last year. Ex-date: 21st June 2024 Payment date: 21st June 2024 Dividend yield will be 1.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (321% earnings payout ratio). However, it is well covered by cash flows (23% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 257% to bring the payout ratio under control. EPS is expected to grow by 231% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Price Target Changed • May 23
Price target decreased by 8.0% to CN¥13.38 Down from CN¥14.55, the current price target is an average from 9 analysts. New target price is 32% above last closing price of CN¥10.16. Stock is down 18% over the past year. The company is forecast to post earnings per share of CN¥0.48 next year compared to a net loss per share of CN¥0.042 last year. Buy Or Sell Opportunity • May 23
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at CN¥10.16. The fair value is estimated to be CN¥12.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 45% in 2 years. Earnings are forecast to grow by 1,810% in the next 2 years. New Risk • Apr 28
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 321% Dividend yield: 1.0% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Dividend is not well covered by earnings (321% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Announcement • Apr 28
Songcheng Performance Development Co.,Ltd, Annual General Meeting, May 21, 2024 Songcheng Performance Development Co.,Ltd, Annual General Meeting, May 21, 2024, at 14:30 China Standard Time. Location: The Company's Meeting Room, Hangzhou, Zhejiang China Agenda: To consider 2023 annual report and its summary; to consider 2023 work report of the board of directors; to consider 2023 work report of the supervisory committee; to consider 2023 annual accounts report; to consider 2023 profit distribution plan; to consider reappointment of 2024 audit firm; to consider confirmation of 2023 remuneration for directors and determination of 2024 remuneration plan to consider confirmation of 2023 remuneration for supervisors and determination of 2024 remuneration plan; and to consider 2024 estimated continuing connected transactions. Announcement • Apr 27
Songcheng Performance Development Co.,Ltd Proposes Final Dividend for 2023 Songcheng Performance Development Co.,Ltd proposed final cash dividend of CNY 1.00000000 per 10 shares (tax included) for 2023. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.096 (vs CN¥0.023 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.096 (up from CN¥0.023 in 1Q 2023). Revenue: CN¥559.6m (up 139% from 1Q 2023). Net income: CN¥251.7m (up 317% from 1Q 2023). Profit margin: 45% (up from 26% in 1Q 2023). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Songcheng Performance Development Co.,Ltd to Report Q1, 2024 Results on Apr 26, 2024 Songcheng Performance Development Co.,Ltd announced that they will report Q1, 2024 results on Apr 26, 2024 Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥10.36, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Hospitality industry in China. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.15 per share. Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from CN¥0.347 to CN¥0.286 per share. Revenue forecast steady at CN¥2.07b. Net income forecast to grow 62% next year vs 49% growth forecast for Hospitality industry in China. Consensus price target down from CN¥15.57 to CN¥15.13. Share price fell 10% to CN¥9.00 over the past week. Announcement • Dec 30
Songcheng Performance Development Co.,Ltd to Report Fiscal Year 2023 Results on Apr 20, 2024 Songcheng Performance Development Co.,Ltd announced that they will report fiscal year 2023 results on Apr 20, 2024 Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: CN¥0.18 (up from CN¥0.04 in 3Q 2022). Revenue: CN¥877.2m (up 217% from 3Q 2022). Net income: CN¥484.3m (up 362% from 3Q 2022). Profit margin: 55% (up from 38% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Songcheng Performance Development Co.,Ltd to Report Q3, 2023 Results on Oct 26, 2023 Songcheng Performance Development Co.,Ltd announced that they will report Q3, 2023 results on Oct 26, 2023 Buying Opportunity • Sep 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.3%. The fair value is estimated to be CN¥15.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 181% in 2 years. Earnings is forecast to grow by 336% in the next 2 years. Reported Earnings • Aug 26
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: CN¥0.093 (up from CN¥0.004 in 2Q 2022). Revenue: CN¥506.1m (up CN¥479.7m from 2Q 2022). Net income: CN¥242.5m (up CN¥233.0m from 2Q 2022). Profit margin: 48% (up from 36% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jun 03
Songcheng Performance Development Co.,Ltd Announces Final Profit Distribution Plan to Be Implemented on A Shares for the Year 2022, Payable on 09 June 2023 Songcheng Performance Development Co.,Ltd announced final profit distribution plan to be implemented on A shares as cash dividend per ten shares (tax included) of CNY 0.50000000 for the year 2022, payable on 09 June 2023. Record date is 08 June 2023. Ex-date is 09 June 2023. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.023 (vs CN¥0.015 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.023 (up from CN¥0.015 loss in 1Q 2022). Revenue: CN¥234.4m (up 175% from 1Q 2022). Net income: CN¥60.3m (up CN¥98.9m from 1Q 2022). Profit margin: 26% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 47% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Mar 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Xiayun Song was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 07
Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, managed by Huaneng Guicheng Trust Corp.,Ltd. cancelled the acquisition of 5.01% stake in Jiangsu Tongrun Equipment Technology Co.,Ltd (SZSE:002150) from Hangzhou Songcheng Group Holding, Huang Qiaoling and Liu Ping. Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, managed by Huaneng Guicheng Trust Corp.,Ltd. agreed to acquire a 5.01% stake in Jiangsu Tongrun Equipment Technology Co.,Ltd (SZSE:002150) from Hangzhou Songcheng Group Holding, Huang Qiaoling and Liu Ping for CNY 1.6 billion on November 17, 2022. Under the terms, Huaneng Guicheng Trust will acquire 131,000,000 shares at CNY 12.16 per share. Hangzhou Songcheng Group Holding will sell 46,000,000 shares, Huang Qiaoling will sell 2 77,000,000 shares, and Liu Ping will sell 8,000,000 shares.Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, managed by Huaneng Guicheng Trust Corp.,Ltd. cancelled the acquisition of 5.01% stake in Jiangsu Tongrun Equipment Technology Co.,Ltd (SZSE:002150) from Hangzhou Songcheng Group Holding, Huang Qiaoling and Liu Ping on December 5, 2022. Announcement • Dec 06
Jinyan Songyun Enterprise Management (Hangzhou) Partnership Enterprise (Limited Partnership) cancelled the acquisition of 5.01% stake in Songcheng Performance International Development Co., Limited from Hangzhou Songcheng Group Holding Co., Ltd. Jinyan Songyun Enterprise Management (Hangzhou) Partnership Enterprise (Limited Partnership) agreed to acquire a 5.01% stake in Songcheng Performance International Development Co., Limited from Hangzhou Songcheng Group Holding Co., Ltd. for CNY 1.6 billion on November 17, 2022. Under the terms, Jinyan Songyun Enterprise will acquire 131,000,000 shares at CNY 12.16 per share.
Jinyan Songyun Enterprise Management (Hangzhou) Partnership Enterprise (Limited Partnership) cancelled the acquisition of 5.01% stake in Songcheng Performance International Development Co., Limited from Hangzhou Songcheng Group Holding Co., Ltd. on December 5, 2022. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Xiayun Song was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: CN¥0.04 (up from CN¥0.021 in 3Q 2021). Revenue: CN¥276.4m (down 1.7% from 3Q 2021). Net income: CN¥104.9m (up 94% from 3Q 2021). Profit margin: 38% (up from 19% in 3Q 2021). Revenue exceeded analyst estimates by 42%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 72% p.a. on average during the next 3 years, compared to a 31% growth forecast for the Hospitality industry in China. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Board Change • Sep 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Xiayun Song was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: CN¥0.004 (down from CN¥0.094 in 2Q 2021). Revenue: CN¥26.4m (down 94% from 2Q 2021). Net income: CN¥9.47m (down 96% from 2Q 2021). Profit margin: 36% (down from 57% in 2Q 2021). Revenue missed analyst estimates by 90%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 243%, compared to a 31% growth forecast for the Hospitality industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 16
Price target increased to CN¥16.40 Up from CN¥14.97, the current price target is an average from 13 analysts. New target price is 31% above last closing price of CN¥12.52. Stock is down 7.2% over the past year. The company is forecast to post earnings per share of CN¥0.18 for next year compared to CN¥0.12 last year. Announcement • Jul 09
Songcheng Performance Development Co.,Ltd Announces Appointment of Song Xiayun as Independent Director Songcheng Performance Development Co.,Ltd announced at the EGM held on July 6, 2022 that the company approved appointment of Song Xiayun as independent director. Board Change • Jun 05
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Shuzhe Liu was the last independent 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. Announcement • May 27
Songcheng Performance Development Co.,Ltd Announces Final Dividend on A Shares for the Year 2021, Payable on June 2, 2022 Songcheng Performance Development Co.,Ltd announced final cash dividend/10 shares (tax included) of CNY 0.50000000 on A shares for the year 2021. Record date is June 1, 2022. Ex-date is June 2, 2022. Payment date is June 2, 2022. Announcement • May 20
Songcheng Performance Development Co.,Ltd Approves the Final Cash Dividend for the Year of 2021 Songcheng Performance Development Co.,Ltd approved the final cash dividend of CNY 0.50000000 per 10 shares (tax included), for the year of 2021. Major Estimate Revision • Apr 29
Consensus revenue estimates fall by 44% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥2.28b to CN¥1.27b. EPS estimate fell from CN¥0.43 to CN¥0.16 per share. Net income forecast to grow 303% next year vs 256% growth forecast for Hospitality industry in China. Consensus price target down from CN¥16.68 to CN¥15.41. Share price fell 9.0% to CN¥12.53 over the past week. Price Target Changed • Apr 27
Price target decreased to CN¥15.31 Down from CN¥16.68, the current price target is an average from 12 analysts. New target price is 26% above last closing price of CN¥12.18. Stock is down 44% over the past year. The company is forecast to post earnings per share of CN¥0.14 for next year compared to CN¥0.12 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Shuzhe Liu was the last independent 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. Announcement • Apr 26
Songcheng Performance Development Co.,Ltd Proposes Final Cash Dividend for the Year of 2021 Songcheng Performance Development Co.,Ltd proposed final cash dividend of CNY 0.50000000 per 10 shares (tax included), for the year of 2021. Price Target Changed • Nov 25
Price target decreased to CN¥17.49 Down from CN¥19.59, the current price target is an average from 14 analysts. New target price is 22% above last closing price of CN¥14.33. Stock is down 28% over the past year. The company is forecast to post earnings per share of CN¥0.20 next year compared to a net loss per share of CN¥0.67 last year. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS CN¥0.021 (vs CN¥0.036 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥281.1m (down 16% from 3Q 2020). Net income: CN¥54.2m (down 42% from 3Q 2020). Profit margin: 19% (down from 28% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 31
Price target decreased to CN¥20.22 Down from CN¥21.93, the current price target is an average from 14 analysts. New target price is 32% above last closing price of CN¥15.28. Stock is down 19% over the past year. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.094 (vs CN¥0.004 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¥428.1m (up 188% from 2Q 2020). Net income: CN¥245.9m (up CN¥256.1m from 2Q 2020). Profit margin: 57% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • May 26
Songcheng Performance Development Co.,Ltd Announces 2020 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 02 June 2021 Songcheng Performance Development Co.,Ltd announced 2020 final profit distribution plan to be implemented (A shares) of CNY 0.50000000 per 10 shares (tax included), with Record date: 01 June 2021; Ex-date: 02 June 2021; and Payment date: 02 June 2021. Price Target Changed • May 23
Price target increased to CN¥23.39 Up from CN¥20.94, the current price target is an average from 11 analysts. New target price is 29% above last closing price of CN¥18.14. Stock is up 5.3% over the past year. Price Target Changed • Apr 28
Price target increased to CN¥22.97 Up from CN¥20.94, the current price target is an average from 9 analysts. New target price is 6.9% above last closing price of CN¥21.48. Stock is up 40% over the past year. Reported Earnings • Apr 25
Full year 2020 earnings released: CN¥0.67 loss per share (vs CN¥0.51 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CN¥902.6m (down 65% from FY 2019). Net loss: CN¥1.75b (down 231% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Major Estimate Revision • Apr 02
Consensus forecasts updated The consensus outlook for 2020 has been updated. 2020 expected loss increased from -CN¥0.10 to -CN¥0.13 per share. Revenue forecast unchanged at CN¥1.25b. Hospitality industry in China expected to see average net income growth of 125% next year. Consensus price target up from CN¥19.89 to CN¥20.94. Share price rose 5.1% to CN¥21.48 over the past week. Announcement • Mar 09
Songcheng Performance Development Co.,Ltd to Report Fiscal Year 2020 Results on Apr 23, 2021 Songcheng Performance Development Co.,Ltd announced that they will report fiscal year 2020 results on Apr 23, 2021 Is New 90 Day High Low • Feb 26
New 90-day high: CN¥20.15 The company is up 1.0% from its price of CN¥19.96 on 27 November 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥8.71 per share. Major Estimate Revision • Feb 03
Analysts update estimates The 2020 consensus revenue estimate increased from CN¥1.16b to CN¥1.26b. The company is forecast to report a loss instead of a profit with analysts lowering their EPS forecasts from CN¥0.11 to -CN¥0.043 for the same period. The Hospitality industry in China is expected to see an average net income growth of 107% next year. The consensus price target was lowered from CN¥19.86 to CN¥19.45. Share price is up 2.9% to CN¥17.09 over the past week. Is New 90 Day High Low • Jan 12
New 90-day low: CN¥15.98 The company is down 4.0% from its price of CN¥16.60 on 14 October 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Hospitality industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.29 per share. Major Estimate Revision • Dec 10
Analysts update estimates The 2020 consensus revenue estimate increased from CN¥1.03b to CN¥1.18b. Earning per share (EPS) estimate was unchanged from the last update at CN¥0.12. The Hospitality industry in China is expected to see an average net income growth of 107% next year. The consensus price target was lowered from CN¥20.22 to CN¥20.22. Share price is down by 3.2% to CN¥18.02 over the past week. Is New 90 Day High Low • Nov 19
New 90-day high: CN¥19.06 The company is up 8.0% from its price of CN¥17.61 on 21 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality 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¥8.16 per share. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥203.5m, down 86% from the prior year. Total revenue was CN¥1.02b over the last 12 months, down 65% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 29
Third-quarter earnings released: Revenue and earnings miss expectations Third-quarter revenue missed analyst estimates by 59% at CN¥335.6m. Earnings per share (EPS) also missed analyst estimates by 84% at CN¥0.03. Revenue is forecast to grow 179% over the next year, compared to a 32% growth forecast for the Hospitality industry in China. Major Estimate Revision • Oct 24
Analysts update estimates The 2020 consensus earning per share (EPS) estimate was lowered from CN¥0.27 to CN¥0.24. No change was made to the revenue estimate which at the last update was CN¥1.49b. Net income is expected to grow by 78% next year compared to 62% growth forecast for the Hospitality industry in China. The consensus price target of CN¥21.14 was unchanged from the last update. Share price is down by 1.9% to CN¥16.44 over the past week. Announcement • Jul 18
Songcheng Performance Development Co.,Ltd to Report First Half, 2020 Results on Aug 08, 2020 Songcheng Performance Development Co.,Ltd announced that they will report first half, 2020 results on Aug 08, 2020