New Risk • May 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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 Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Dividend is not well covered by earnings (94% payout ratio). Large one-off items impacting financial results. Announcement • Mar 31
Wushang Group Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Wushang Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Mar 27
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.24 (down from CN¥0.28 in FY 2024). Revenue: CN¥6.08b (down 9.3% from FY 2024). Net income: CN¥180.4m (down 17% from FY 2024). Profit margin: 3.0% (down from 3.2% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 31%. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Announcement • Mar 26
Wushang Group Co., Ltd., Annual General Meeting, Apr 23, 2026 Wushang Group Co., Ltd., Annual General Meeting, Apr 23, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Wuhan, Hubei China Announcement • Dec 31
Wushang Group Co., Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 Wushang Group Co., Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: CN¥0.055 loss per share (vs CN¥0.037 loss in 3Q 2024) Third quarter 2025 results: CN¥0.055 loss per share (further deteriorated from CN¥0.037 loss in 3Q 2024). Revenue: CN¥1.34b (down 9.1% from 3Q 2024). Net loss: CN¥37.4m (loss widened 27% from 3Q 2024). Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings have declined by 37% 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 Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings have declined by 37% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (103% payout ratio). Large one-off items impacting financial results. Declared Dividend • Oct 20
First half dividend of CN¥0.10 announced Dividend of CN¥0.10 is the same as last year. Ex-date: 22nd October 2025 Payment date: 22nd October 2025 Dividend yield will be 3.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is not covered by earnings (103% earnings payout ratio). However, it is well covered by cash flows (37% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control. EPS is expected to grow by 14% over the next year, which should be enough to bring the dividend into a sustainable range. Announcement • Sep 30
Wushang Group Co., Ltd. to Report Q3, 2025 Results on Oct 31, 2025 Wushang Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 31, 2025 Announcement • Aug 28
Wushang Group Co., Ltd. Proposes Interim Cash Dividend for the Year 2025 Wushang Group Co., Ltd. at its 1st Extraordinary General Meeting of 2025 to be held on 11 September 2025, proposed interim cash dividend (tax included) of CNY 1.00000000 per 10 shares for the year 2025. Reported Earnings • Aug 27
Second quarter 2025 earnings released: EPS: CN¥0.028 (vs CN¥0.02 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.028 (up from CN¥0.02 in 2Q 2024). Revenue: CN¥1.39b (down 17% from 2Q 2024). Net income: CN¥22.7m (up 51% from 2Q 2024). Profit margin: 1.6% (up from 0.9% in 2Q 2024). Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Aug 20
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 6.6% 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 Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Dividend is not well covered by earnings (105% payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CN¥11.68, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 28x in the Multiline Retail industry in China. Total returns to shareholders of 19% over the past three years. Announcement • Jul 02
Wushang Group Co., Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Wushang Group Co., Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Reported Earnings • May 05
First quarter 2025 earnings released: EPS: CN¥0.19 (vs CN¥0.18 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.19 (up from CN¥0.18 in 1Q 2024). Revenue: CN¥1.79b (down 8.6% from 1Q 2024). Net income: CN¥142.6m (up 2.9% from 1Q 2024). Profit margin: 8.0% (up from 7.1% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Apr 30
Wushang Group Co., Ltd., Annual General Meeting, May 20, 2025 Wushang Group Co., Ltd., Annual General Meeting, May 20, 2025, at 14:30 China Standard Time. Location: 8F, No. 690, Jiefang Avenue, Wuhan, Hubei China Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥10.76, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 24x in the Multiline Retail industry in China. Total returns to shareholders of 4.4% over the past three years. Reported Earnings • Mar 30
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.28 (up from CN¥0.27 in FY 2023). Revenue: CN¥6.70b (down 6.6% from FY 2023). Net income: CN¥216.0m (up 3.3% from FY 2023). Profit margin: 3.2% (up from 2.9% in FY 2023). Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 1.7% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. New Risk • Jan 22
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 9.0% 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: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Announcement • Dec 31
Wushang Group Co., Ltd. to Report Fiscal Year 2024 Results on Mar 29, 2025 Wushang Group Co., Ltd. announced that they will report fiscal year 2024 results on Mar 29, 2025 Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥11.10, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 26x in the Multiline Retail industry in China. Total returns to shareholders of 9.9% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.48, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 25x in the Multiline Retail industry in China. Total returns to shareholders of 9.4% over the past three years. Reported Earnings • Oct 29
Third quarter 2024 earnings released: CN¥0.037 loss per share (vs CN¥0.002 profit in 3Q 2023) Third quarter 2024 results: CN¥0.037 loss per share (down from CN¥0.002 profit in 3Q 2023). Revenue: CN¥1.48b (down 14% from 3Q 2023). Net loss: CN¥29.5m (down CN¥31.0m from profit in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 04
Upcoming dividend of CN¥0.10 per share Eligible shareholders must have bought the stock before 11 October 2024. Payment date: 11 October 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Chinese dividend payers (2.2%). Lower than average of industry peers (2.1%). Announcement • Sep 30
Wushang Group Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Wushang Group Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥8.74, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Multiline Retail industry in China. Total loss to shareholders of 16% over the past three years. Announcement • Sep 27
Wushang Group Co., Ltd. Announces Interim Cash Dividend of the Year 2024 of A Shares, Payable on 11 October 2024 Wushang Group Co., Ltd. announced interim cash dividend/10 shares (tax included) of CNY 1.00000000 for year 2024 of A shares. Record date is 10 October 2024. Ex-date is 11 October 2024. Payment date is 11 October 2024. Announcement • Sep 21
Wushang Group Co., Ltd. Approves Profit Distribution Plan for 2024 Wushang Group Co., Ltd. at its second Extraordinary General Meeting held on 19 September 2024 approved the detailed profit distribution plan is as follows: Cash dividend per 10 shares (tax included): CNY1.00000000. Announcement • Aug 31
Wushang Group Co., Ltd. Proposes Interim Dividend for the First Half of 2024 Wushang Group Co., Ltd. proposed interim cash dividend/10 shares (tax included) of CNY 1.00000000 for the first half of 2024. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.02 (vs CN¥0.019 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.02 (up from CN¥0.019 loss in 2Q 2023). Revenue: CN¥1.69b (up 1.0% from 2Q 2023). Net income: CN¥15.1m (up CN¥29.9m from 2Q 2023). Profit margin: 0.9% (up from net loss in 2Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Announcement • Aug 07
Wushang Group Co., Ltd. (SZSE:000501) announces an Equity Buyback for CNY 150 million worth of its shares. Wushang Group Co., Ltd. (SZSE:000501) announces a share repurchase program. Under the program, the company will repurchase CNY 150 million worth of shares. The shares will be repurchased at a price of not more than CNY 10.5 per share. The funds for this share repurchase are entirely from the company's own funds. The purpose of the program is to maintain the company's value and shareholders' interests. The repurchased shares will be sold. The program is valid for 3 months Announcement • Jun 29
Wushang Group Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Wushang Group Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Board Change • May 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Jun Pan 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. Announcement • May 01
Wushang Group Co., Ltd., Annual General Meeting, May 20, 2024 Wushang Group Co., Ltd., Annual General Meeting, May 20, 2024, at 14:30 China Standard Time. Location: 8F, Block A, No. 690, Jiefang Avenue, Wuhan, Hubei China Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.17 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.17 in 1Q 2023). Revenue: CN¥1.96b (down 4.8% from 1Q 2023). Net income: CN¥138.6m (up 5.1% from 1Q 2023). Profit margin: 7.1% (up from 6.4% in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 31
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥0.27 (down from CN¥0.40 in FY 2022). Revenue: CN¥7.18b (up 13% from FY 2022). Net income: CN¥209.1m (down 31% from FY 2022). Profit margin: 2.9% (down from 4.8% in FY 2022). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 48%. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • Mar 30
Wushang Group Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Wushang Group Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Dec 30
Wushang Group Co., Ltd. to Report Fiscal Year 2023 Results on Mar 30, 2024 Wushang Group Co., Ltd. announced that they will report fiscal year 2023 results on Mar 30, 2024 Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from CN¥0.50 to CN¥0.385 per share. Revenue forecast steady at CN¥7.19b. Net income forecast to grow 266% next year vs 43% growth forecast for Multiline Retail industry in China. Consensus price target down from CN¥12.40 to CN¥9.90. Share price was steady at CN¥8.66 over the past week. New Risk • Nov 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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 Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.002 (vs CN¥0.081 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.002 (down from CN¥0.081 in 3Q 2022). Revenue: CN¥1.71b (up 15% from 3Q 2022). Net income: CN¥1.46m (down 98% from 3Q 2022). Profit margin: 0.1% (down from 4.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Oct 29
Wushang Group Co., Ltd. Announces Executive Appointments Wushang Group Co., Ltd. appointed Pan Hongxiang, Pan Jun, Jiang Zhixiong and Hu Jiana as non-independent directors; Zhang Hongxiang and Xie Wenmin as independent directors at its EGM held on 26 October 2023. Reported Earnings • Aug 30
Second quarter 2023 earnings released: CN¥0.019 loss per share (vs CN¥0.12 profit in 2Q 2022) Second quarter 2023 results: CN¥0.019 loss per share (down from CN¥0.12 profit in 2Q 2022). Revenue: CN¥1.67b (up 11% from 2Q 2022). Net loss: CN¥14.8m (down 116% from profit in 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Jun 10
Wushang Group Co., Ltd. Announces Final Dividend on A Shares for the Year 2022, Payable on June 16, 2023 Wushang Group Co., Ltd. announced final cash dividend/10 shares (tax included) of CNY 0.50000000 on A shares for the year 2022. Record date is June 15, 2023. Ex-date is May June 16, 2023. Payment date is June 16, 2023. Announcement • May 23
Wushang Group Co., Ltd. Approves 2022 Profit Distribution Plan Wushang Group Co., Ltd. at its Annual General Meeting of 2022 held on 19 May 2023 approved 2022 profit distribution plan. Cash dividend/10 shares (tax included): CNY 0.50000000. Announcement • May 06
Wushang Group Co., Ltd., Annual General Meeting, May 19, 2023 Wushang Group Co., Ltd., Annual General Meeting, May 19, 2023, at 15:00 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; and to consider other matters. Price Target Changed • Apr 04
Price target increased by 19% to CN¥11.30 Up from CN¥9.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CN¥11.76. Stock is up 13% over the past year. The company posted earnings per share of CN¥0.98 last year. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non-Independent Director Jun Tang was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from CN¥0.74 to CN¥0.63 per share. Revenue forecast steady at CN¥6.45b. Net income forecast to grow 3.4% next year vs 20% growth forecast for Multiline Retail industry in China. Consensus price target down from CN¥9.50 to CN¥9.00. Share price rose 4.0% to CN¥9.85 over the past week. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.081 (vs CN¥0.12 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.081 (down from CN¥0.12 in 3Q 2021). Revenue: CN¥1.49b (down 6.1% from 3Q 2021). Net income: CN¥63.7m (down 34% from 3Q 2021). Profit margin: 4.3% (down from 6.0% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Price Target Changed • Sep 06
Price target decreased to CN¥9.50 Down from CN¥10.30, the current price target is an average from 2 analysts. New target price is 8.8% below last closing price of CN¥10.42. Stock is down 5.9% over the past year. The company is forecast to post earnings per share of CN¥0.73 for next year compared to CN¥0.98 last year. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.24 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.12 (down from CN¥0.24 in 2Q 2021). Revenue: CN¥1.50b (down 12% from 2Q 2021). Net income: CN¥92.2m (down 50% from 2Q 2021). Profit margin: 6.2% (down from 11% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 1.8%, compared to a 142% growth forecast for the Multiline Retail industry in China. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Jul 25
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non-Independent Director Jun Tang was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 12
Wushang Group Co., Ltd. Announces 2021 Final Profit Distribution Plan, Payable on 18 May 2022 Wushang Group Co., Ltd. announced the 2021 final profit distribution plan of CNY 1.60000000 per 10 A shares (tax included). The dividend will paid on 18 May 2022 with record date of 17 May 2022 and ex-date is 18 May 2022. 10% withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable. Please refer to below details: Tax on cash dividend/10 shares: CNY 0.16000000 (10% x CNY1.60000000). Net cash dividend/10 shares after tax: CNY 1.44000000 (CNY 1.60000000- CNY 0.16000000). Major Estimate Revision • May 04
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥7.41b to CN¥6.77b. EPS estimate also fell from CN¥1.07 per share to CN¥0.91 per share. Net income forecast to grow 8.5% next year vs 13% growth forecast for Multiline Retail industry in China. Consensus price target down from CN¥10.30 to CN¥9.80. Share price rose 3.1% to CN¥10.28 over the past week. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: CN¥0.23 (down from CN¥0.35 in 1Q 2021). Revenue: CN¥1.87b (down 6.5% from 1Q 2021). Net income: CN¥175.8m (down 34% from 1Q 2021). Profit margin: 9.4% (down from 13% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 7.1%, compared to a 11% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 27
Price target decreased to CN¥10.30 Down from CN¥11.48, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of CN¥9.97. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥0.98 last year. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Deputy GM & Non-Employee Supervisor Haifang Wu was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 22
Wuhan Department Store Group Co., Ltd. Approves Cash Dividend Wuhan Department Store Group Co., Ltd. held its Annual General Meeting of 2021 on 20 April 2022, during which it approved: Cash dividend/10 shares (tax included): CNY 1.60000000. Major Estimate Revision • Apr 06
Consensus revenue estimates fall by 19% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥9.34b to CN¥7.57b. EPS estimate fell from CN¥1.33 to CN¥1.10 per share. Net income forecast to grow 12% next year vs 9.4% growth forecast for Multiline Retail industry in China. Consensus price target down from CN¥11.48 to CN¥10.30. Share price rose 4.6% to CN¥10.61 over the past week. Announcement • Apr 02
Wuhan Department Store Group Co., Ltd., Annual General Meeting, Apr 20, 2022 Wuhan Department Store Group Co., Ltd., Annual General Meeting, Apr 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 reappointment of audit firm; to consider Bank credit and loans; and to consider other matters. Reported Earnings • Apr 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.98 (up from CN¥0.71 in FY 2020). Revenue: CN¥7.13b (down 6.7% from FY 2020). Net income: CN¥752.4m (up 37% from FY 2020). Profit margin: 11% (up from 7.2% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 4.0%, compared to a 10% growth forecast for the retail industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 01
Wuhan Department Store Group Co., Ltd. Proposes Final Cash Dividend for 2021 Wuhan Department Store Group Co., Ltd. proposed final cash dividend of CNY 1.60000000 per 10 shares (tax included) for 2021. Major Estimate Revision • Feb 01
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from CN¥8.47b to CN¥7.52b. EPS estimate unchanged from CN¥0.94 per share at last update. Multiline Retail industry in China expected to see average net income growth of 18% next year. Consensus price target of CN¥11.48 unchanged from last update. Share price rose 3.8% to CN¥10.80 over the past week. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.12 (vs CN¥0.32 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥1.58b (down 10% from 3Q 2020). Net income: CN¥95.7m (down 61% from 3Q 2020). Profit margin: 6.0% (down from 14% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.24 (vs CN¥0.29 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: CN¥1.70b (up 22% from 2Q 2020). Net income: CN¥185.1m (up 1.4% from 2Q 2020). Profit margin: 11% (down from 13% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 21
Wuhan Department Store Group Co., Ltd. Approves Final Dividend for Year 2020 Wuhan Department Store Group Co., Ltd. announced at the AGM held on May 19, 2021 that the company approved final Cash dividend/10 shares (tax included): CNY 1.50000000 for year 2020. Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.35 (vs CN¥0.29 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥2.00b (up 55% from 1Q 2020). Net income: CN¥267.2m (up CN¥492.0m from 1Q 2020). Profit margin: 13% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 31
Price target decreased to CN¥14.50 Down from CN¥17.92, the current price target is an average from 2 analysts. New target price is 14% above last closing price of CN¥12.67. Stock is up 15% over the past year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.71 (vs CN¥1.60 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: CN¥7.64b (down 57% from FY 2019). Net income: CN¥547.4m (down 55% from FY 2019). Profit margin: 7.2% (up from 6.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Feb 24
Wuhan Department Store Group Co., Ltd. to Report Fiscal Year 2020 Results on Mar 30, 2021 Wuhan Department Store Group Co., Ltd. announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Jan 29
New 90-day low: CN¥10.39 The company is down 20% from its price of CN¥13.04 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 Multiline Retail industry, which is down 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥72.01 per share. Is New 90 Day High Low • Dec 30
New 90-day low: CN¥11.52 The company is down 22% from its price of CN¥14.80 on 30 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 Multiline Retail industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥74.81 per share. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥12.07 The company is down 25% from its price of CN¥16.00 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥75.88 per share. Is New 90 Day High Low • Nov 25
New 90-day low: CN¥12.95 The company is down 32% from its price of CN¥19.00 on 27 August 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥67.02 per share. Major Estimate Revision • Nov 05
Analysts lower EPS estimates to CN¥0.58 The 2020 consensus revenue estimate was lowered from CN¥10.2b to CN¥9.63b. Earning per share (EPS) estimate was also lowered from CN¥0.85 to CN¥0.58 for the same period. Net income is expected to grow by 53% next year compared to 72% growth forecast for the Multiline Retail industry in China. The consensus price target was lowered from CN¥17.92 to CN¥17.00. Share price is up 3.2% to CN¥14.00 over the past week. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥609.0m, down 44% from the prior year. Total revenue was CN¥9.33b over the last 12 months, down 47% from the prior year. Is New 90 Day High Low • Oct 16
New 90-day low: CN¥14.63 The company is down 27% from its price of CN¥19.94 on 17 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.27 per share. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥14.94 The company is down 5.0% from its price of CN¥15.68 on 30 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 Multiline Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥2.27 per share. Announcement • Aug 13
Wuhan Department Store Group Co., Ltd. to Report First Half, 2020 Results on Aug 29, 2020 Wuhan Department Store Group Co., Ltd. announced that they will report first half, 2020 results on Aug 29, 2020 
