Reported Earnings • Apr 22
Full year 2025 earnings released: CN¥0.55 loss per share (vs CN¥0.80 loss in FY 2024) Full year 2025 results: CN¥0.55 loss per share (improved from CN¥0.80 loss in FY 2024). Revenue: CN¥3.39b (down 36% from FY 2024). Net loss: CN¥1.03b (loss narrowed 32% from FY 2024). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 21
Zhuhai Zhumian Group Co., Ltd., Annual General Meeting, May 13, 2026 Zhuhai Zhumian Group Co., Ltd., Annual General Meeting, May 13, 2026, at 14:30 China Standard Time. Location: No. 213, Shihua West Road, Zhuhai, Guangdong China Announcement • Mar 30
Zhuhai Zhumian Group Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Zhuhai Zhumian Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 26
Zhuhai Zhumian Group Co., Ltd. to Report Fiscal Year 2025 Results on Apr 21, 2026 Zhuhai Zhumian Group Co., Ltd. announced that they will report fiscal year 2025 results on Apr 21, 2026 Reported Earnings • Nov 03
Third quarter 2025 earnings released: CN¥0.15 loss per share (vs CN¥0.078 loss in 3Q 2024) Third quarter 2025 results: CN¥0.15 loss per share (further deteriorated from CN¥0.078 loss in 3Q 2024). Revenue: CN¥756.7m (up 39% from 3Q 2024). Net loss: CN¥290.8m (loss widened 101% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Zhuhai Zhumian Group Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Zhuhai Zhumian Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 31
Second quarter 2025 earnings released: CN¥0.10 loss per share (vs CN¥0.39 loss in 2Q 2024) Second quarter 2025 results: CN¥0.10 loss per share (improved from CN¥0.39 loss in 2Q 2024). Revenue: CN¥820.7m (up 96% from 2Q 2024). Net loss: CN¥183.3m (loss narrowed 73% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jun 30
Zhuhai Zhumian Group Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Zhuhai Zhumian Group Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Apr 29
Gree Real Estate Co.,Ltd, Annual General Meeting, May 19, 2025 Gree Real Estate Co.,Ltd, Annual General Meeting, May 19, 2025, at 14:30 China Standard Time. Announcement • Mar 28
Gree Real Estate Co.,Ltd to Report Q1, 2025 Results on Apr 29, 2025 Gree Real Estate Co.,Ltd announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Jan 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 9.3% 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 Risks Debt is not well covered by operating cash flow (2.2% operating cash flow to total debt). Earnings have declined by 61% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). Announcement • Dec 27
Gree Real Estate Co.,Ltd to Report Fiscal Year 2024 Results on Apr 29, 2025 Gree Real Estate Co.,Ltd announced that they will report fiscal year 2024 results on Apr 29, 2025 Reported Earnings • Oct 29
Third quarter 2024 earnings released: CN¥0.078 loss per share (vs CN¥0.061 loss in 3Q 2023) Third quarter 2024 results: CN¥0.078 loss per share (further deteriorated from CN¥0.061 loss in 3Q 2023). Revenue: CN¥544.3m (down 37% from 3Q 2023). Net loss: CN¥144.4m (loss widened 43% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Sep 30
Gree Real Estate Co.,Ltd to Report Q3, 2024 Results on Oct 29, 2024 Gree Real Estate Co.,Ltd announced that they will report Q3, 2024 results on Oct 29, 2024 Announcement • Jun 28
Gree Real Estate Co.,Ltd to Report First Half, 2024 Results on Aug 31, 2024 Gree Real Estate Co.,Ltd announced that they will report first half, 2024 results on Aug 31, 2024 Buy Or Sell Opportunity • May 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to CN¥5.72. The fair value is estimated to be CN¥7.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 28
First quarter 2024 earnings released: CN¥0.05 loss per share (vs CN¥0.01 profit in 1Q 2023) First quarter 2024 results: CN¥0.05 loss per share (down from CN¥0.01 profit in 1Q 2023). Revenue: CN¥1.48b (up 49% from 1Q 2023). Net loss: CN¥102.6m (down CN¥112.6m from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Apr 03
Gree Real Estate Co.,Ltd, Annual General Meeting, Apr 23, 2024 Gree Real Estate Co.,Ltd, Annual General Meeting, Apr 23, 2024, at 14:30 China Standard Time. Location: No. 213, Shihua West Road, Zhuhai, Guangdong China Reported Earnings • Mar 31
Full year 2023 earnings released: CN¥0.39 loss per share (vs CN¥1.44 loss in FY 2022) Full year 2023 results: CN¥0.39 loss per share (improved from CN¥1.44 loss in FY 2022). Revenue: CN¥4.73b (up 17% from FY 2022). Net loss: CN¥733.1m (loss narrowed 73% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Announcement • Mar 29
Gree Real Estate Co.,Ltd to Report Q1, 2024 Results on Apr 27, 2024 Gree Real Estate Co.,Ltd announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 29
Gree Real Estate Co.,Ltd to Report Fiscal Year 2023 Results on Mar 30, 2024 Gree Real Estate Co.,Ltd announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.061 loss per share (vs CN¥0.07 loss in 3Q 2022) Third quarter 2023 results: CN¥0.061 loss per share (improved from CN¥0.07 loss in 3Q 2022). Revenue: CN¥859.6m (up 43% from 3Q 2022). Net loss: CN¥100.7m (loss narrowed 36% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Announcement • Sep 30
Gree Real Estate Co.,Ltd to Report Q3, 2023 Results on Oct 28, 2023 Gree Real Estate Co.,Ltd announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 Reported Earnings • Aug 26
Second quarter 2023 earnings released: CN¥0.078 loss per share (vs CN¥0.017 loss in 2Q 2022) Second quarter 2023 results: CN¥0.078 loss per share (further deteriorated from CN¥0.017 loss in 2Q 2022). Revenue: CN¥866.9m (up 6.8% from 2Q 2022). Net loss: CN¥221.9m (loss widened CN¥188.5m from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Announcement • Jun 28
Gree Real Estate Co.,Ltd to Report First Half, 2023 Results on Aug 26, 2023 Gree Real Estate Co.,Ltd announced that they will report first half, 2023 results on Aug 26, 2023 Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: CN¥0.01 (vs CN¥0.07 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.01 (down from CN¥0.07 in 1Q 2022). Revenue: CN¥988.6m (down 26% from 1Q 2022). Net income: CN¥10.0m (down 92% from 1Q 2022). Profit margin: 1.0% (down from 9.6% in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 132 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. 5 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Jun Xiong Fang was the last independent director to join the board, commencing their role in 2016. 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 28
Third quarter 2022 earnings released: CN¥0.07 loss per share (vs CN¥0.099 profit in 3Q 2021) Third quarter 2022 results: CN¥0.07 loss per share (down from CN¥0.099 profit in 3Q 2021). Revenue: CN¥599.8m (down 78% from 3Q 2021). Net loss: CN¥156.8m (down 192% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: CN¥0.017 loss per share (vs CN¥0.13 profit in 2Q 2021) Second quarter 2022 results: CN¥0.017 loss per share (down from CN¥0.13 profit in 2Q 2021). Revenue: CN¥811.6m (down 51% from 2Q 2021). Net loss: CN¥33.5m (down 114% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buying Opportunity • Aug 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.6%. The fair value is estimated to be CN¥7.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has declined by 6.1%. Buying Opportunity • Aug 02
Now 21% undervalued Over the last 90 days, the stock is up 10.0%. The fair value is estimated to be CN¥7.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has declined by 6.1%. Buying Opportunity • Jul 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be CN¥7.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has declined by 6.1%. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥6.05, the stock trades at a trailing P/E ratio of 46.3x. Average trailing P/E is 20x in the Real Estate industry in China. Total returns to shareholders of 33% over the past three years. Reported Earnings • May 02
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: CN¥0.17 (down from CN¥0.30 in FY 2020). Revenue: CN¥7.13b (up 12% from FY 2020). Net income: CN¥320.6m (down 43% from FY 2020). Profit margin: 4.5% (down from 8.7% in FY 2020). Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Jun Xiong Fang was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥5.87, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 14x in the Real Estate industry in China. Total returns to shareholders of 15% over the past three years. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.099 (vs CN¥0.09 in 3Q 2020) The company reported a decent third quarter result with improved revenues, although earnings and profit margins were weaker. Third quarter 2021 results: Revenue: CN¥2.78b (up 118% from 3Q 2020). Net income: CN¥171.3m (down 2.1% from 3Q 2020). Profit margin: 6.2% (down from 14% 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 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥8.64, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 13x in the Real Estate industry in China. Total returns to shareholders of 112% over the past three years. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS CN¥0.13 (vs CN¥0.20 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥1.67b (down 28% from 2Q 2020). Net income: CN¥241.5m (down 34% from 2Q 2020). Profit margin: 14% (down from 16% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥9.01, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 14x in the Real Estate industry in China. Total returns to shareholders of 117% over the past three years. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥8.47, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 13x in the Real Estate industry in China. Total returns to shareholders of 106% over the past three years. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥7.55, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 8x in the Real Estate industry in China. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥6.86, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 7x in the Real Estate industry in China. Total returns to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥6.69, the stock is trading at a trailing P/E ratio of 18.4x, up from the previous P/E ratio of 16x. This compares to an average P/E of 14x in the Real Estate industry in China. Total returns to shareholders over the past three years are 31%. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥6.72, the stock is trading at a trailing P/E ratio of 18.5x, up from the previous P/E ratio of 16.1x. This compares to an average P/E of 14x in the Real Estate industry in China. Total returns to shareholders over the past three years are 41%. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥6.56, the stock is trading at a trailing P/E ratio of 18.1x, up from the previous P/E ratio of 15.5x. This compares to an average P/E of 14x in the Real Estate industry in China. Total returns to shareholders over the past three years are 9.4%. Is New 90 Day High Low • Jan 11
New 90-day low: CN¥5.42 The company is down 53% from its price of CN¥11.59 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 Real Estate industry, which is down 10.0% over the same period. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CN¥5.64, the stock is trading at a trailing P/E ratio of 15.5x, down from the previous P/E ratio of 19.8x. This compares to an average P/E of 15x in the Real Estate industry in China. Total return to shareholders over the past three years is a loss of 4.1%. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥6.46, the stock is trading at a trailing P/E ratio of 17.8x, down from the previous P/E ratio of 21.2x. This compares to an average P/E of 15x in the Real Estate industry in China. Total returns to shareholders over the past three years are 19%. Is New 90 Day High Low • Dec 25
New 90-day low: CN¥7.10 The company is down 35% from its price of CN¥10.95 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 Real Estate 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¥37.78 per share. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥7.68 The company is down 32% from its price of CN¥11.28 on 10 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 Real Estate 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¥33.72 per share. Is New 90 Day High Low • Nov 21
New 90-day low: CN¥9.14 The company is down 32% from its price of CN¥13.52 on 21 August 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥37.23 per share. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥621.7m, largely unchanged from the prior year. Total revenue was CN¥5.01b over the last 12 months, up 6.9% from the prior year. Announcement • Oct 29
Gree Real Estate Co., Ltd. to Report Q3, 2020 Results on Oct 31, 2020 Gree Real Estate Co., Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Oct 20
New 90-day low: CN¥10.61 The company is down 29% from its price of CN¥14.98 on 22 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥39.45 per share. Is New 90 Day High Low • Sep 25
New 90-day low: CN¥10.95 The company is down 4.0% from its price of CN¥11.36 on 24 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥41.60 per share. Announcement • Jul 10
Gree Real Estate Co., Ltd. to Report First Half, 2020 Results on Aug 28, 2020 Gree Real Estate Co., Ltd. announced that they will report first half, 2020 results on Aug 28, 2020 Announcement • Jun 30
Zhuhai Jiusi Investment Co., Ltd. completed the acquisition of 8.9% stake in Gree Real Estate Co., Ltd. (SHSE:600185) from its shareholders. Zhuhai Jiusi Investment Co., Ltd. made an offer to acquire 8.9% stake in Gree Real Estate Co., Ltd. (SHSE:600185) from its shareholders for CNY 1.2 billion on May 20, 2020. Under the terms of consideration, the total number of shares acquired by this offer is 183 million shares, accounting for 8.89% of the total shares issued by Gree Real Estate. The offer price is CNY 6.5 per share. On May 21, 2020, Zhuhai State-owned Assets Supervision and Administration Commission issued "Opinions on Zhuhai Jiusi Investment Co., Ltd 's Acquisition of Gree Real Estate Shares by agreeing to this tender offer. Before the announcement of the tender offer report, Zhuhai Jiusi Investment Co., Ltd has deposited CNY 238.17 million into the designated account of the Shanghai branch of the registration and settlement company as the performance bond for this tender offer. On June 11, 2020, at the 11th meeting of the seventh board of directors of Gree Real Estate the tender offer was reviewed and approved by the shareholders. The independent Directors had approved the transaction. The tender offer period is 34 natural days, from May 27, 2020 to June 29, 2020. Sealand Securities Co., Ltd acted as financial advisor to Zhuhai Jiusi Investment Co in the transaction.
Zhuhai Jiusi Investment Co., Ltd. completed the acquisition of 8.9% stake in Gree Real Estate Co., Ltd. (SHSE:600185) from its shareholders on June 29, 2020. 
