Reported Earnings • May 01
First quarter 2026 earnings released: CN¥0.002 loss per share (vs CN¥0.005 profit in 1Q 2025) First quarter 2026 results: CN¥0.002 loss per share (down from CN¥0.005 profit in 1Q 2025). Revenue: CN¥143.7m (up 57% from 1Q 2025). Net loss: CN¥1.40m (down 138% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. New Risk • Apr 28
New major risk - Revenue and earnings growth Earnings have declined by 25% 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. This is currently the only risk that has been identified for the company. Announcement • Apr 28
Modern Avenue Group Co., Ltd., Annual General Meeting, May 20, 2026 Modern Avenue Group Co., Ltd., Annual General Meeting, May 20, 2026, at 14:00 China Standard Time. Location: 14F, Building A1, No. 23, Guangpu Middle Road, Science City, Huangpu District, Guangzhou, Guangdong China Announcement • Mar 31
Modern Avenue Group Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 Modern Avenue Group Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 31
Modern Avenue Group Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Modern Avenue Group Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: CN¥0.019 loss per share (vs CN¥0.068 profit in 3Q 2024) Third quarter 2025 results: CN¥0.019 loss per share (down from CN¥0.068 profit in 3Q 2024). Revenue: CN¥243.2m (up 410% from 3Q 2024). Net loss: CN¥13.8m (down 128% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Modern Avenue Group Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Modern Avenue Group Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Jul 02
Modern Avenue Group Co., Ltd. to Report First Half, 2025 Results on Aug 28, 2025 Modern Avenue Group Co., Ltd. announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • May 07
Modern Avenue Group Co., Ltd. (SZSE:002656) completed the acquisition of Liaoning Shenpeng Electric Power Technology Co., Ltd. from Ruiyang Group Dongbei Cable Co., Ltd. Modern Avenue Group Co., Ltd. (SZSE:002656) agreed to acquire Liaoning Shenpeng Electric Power Technology Co., Ltd. from Ruiyang Group Dongbei Cable Co., Ltd. for approximately CNY 140 million on April 14, 2025. Modern Avenue Group shall pay 51% of the total price (or CNY 72.2160 million) to RGDC within 3 working days after this agreement becomes effective, 19% of the total price (or CNY 26.9040 million) to RGDC within 3 working days after completion of changes in business registration and 30% of the total price (or CNY 42.48 million) to RGDC before May 15, 2028. Prior to this payment, LSEP shall release its audited earnings forecast and audited asset impairment test report. In case LSEP fails to release these two reports before May 15, 2028, then the payment date may be moved to within 3 working days after the last audited report.
For the period ending December 31, 2024, Liaoning Shenpeng Electric Power Technology Co., Ltd. reported operating revenue of CNY 102.59 million and net income of CNY 6.88 million and operating profit of CNY 7.3658 million. As of December 31, 2024, Liaoning Shenpeng Electric Power Technology Co., Ltd. reported total assets of CNY 144.37 million and total common equity of CNY 44.85 million.
The transaction is subject to approval of offer by acquirer shareholders. The deal has been approved by the board of Modern Avenue Group.
Modern Avenue Group Co., Ltd. (SZSE:002656) completed the acquisition of Liaoning Shenpeng Electric Power Technology Co., Ltd. from Ruiyang Group Dongbei Cable Co., Ltd. on May 7, 2025. Reported Earnings • May 05
First quarter 2025 earnings released: EPS: CN¥0.005 (vs CN¥0.075 loss in 1Q 2024) First quarter 2025 results: EPS: CN¥0.005 (up from CN¥0.075 loss in 1Q 2024). Revenue: CN¥91.7m (up 45% from 1Q 2024). Net income: CN¥3.72m (up CN¥57.4m from 1Q 2024). Profit margin: 4.1% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Apr 28
Modern Avenue Group Co., Ltd., Annual General Meeting, May 23, 2025 Modern Avenue Group Co., Ltd., Annual General Meeting, May 23, 2025, at 14:00 China Standard Time. Location: 14F, Building A1, No. 23, Guangpu Middle Road, Science City, Huangpu District, Guangzhou, Guangdong China Announcement • Mar 31
Modern Avenue Group Co., Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Modern Avenue Group Co., Ltd. announced that they will report Q1, 2025 results on Apr 30, 2025 Announcement • Dec 31
Modern Avenue Group Co., Ltd. to Report Fiscal Year 2024 Results on Apr 28, 2025 Modern Avenue Group Co., Ltd. announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.068 (vs CN¥0.022 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.068 (up from CN¥0.022 loss in 3Q 2023). Revenue: CN¥47.7m (down 17% from 3Q 2023). Net income: CN¥48.9m (up CN¥64.9m from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 56% 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 • Sep 30
Modern Avenue Group Co., Ltd. to Report Q3, 2024 Results on Oct 31, 2024 Modern Avenue Group Co., Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Sep 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. New Risk • Jul 16
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 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (CN¥698.3m market cap, or US$96.1m). Announcement • Jun 29
Modern Avenue Group Co., Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Modern Avenue Group Co., Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • Jun 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CN¥705.4m (US$97.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Apr 30
Modern Avenue Group Co., Ltd., Annual General Meeting, May 21, 2024 Modern Avenue Group Co., Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: 16F, Building A1, No. 23, Guangpu Middle Road, Science City, Huangpu District, Guangzhou, Guangdong China Reported Earnings • Apr 29
Full year 2023 earnings released: CN¥0.13 loss per share (vs CN¥0.055 loss in FY 2022) Full year 2023 results: CN¥0.13 loss per share (further deteriorated from CN¥0.055 loss in FY 2022). Revenue: CN¥289.5m (up 26% from FY 2022). Net loss: CN¥89.1m (loss widened 115% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Announcement • Mar 30
Modern Avenue Group Co., Ltd. to Report Q1, 2024 Results on Apr 30, 2024 Modern Avenue Group Co., Ltd. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Jan 20
Modern Avenue Group Co., Ltd. Announces Executive Appointments Modern Avenue Group Co., Ltd. at the Extraordinary General Meeting of 2024 on 18 January 2024 approved election of independent directors, cumulative voting system applicable: Huang Shuying, independent director; Election of shareholder supervisors, cumulative voting system applicable: Chen Yueyue, shareholder supervisor. Announcement • Dec 30
Modern Avenue Group Co., Ltd. to Report Fiscal Year 2023 Results on Apr 29, 2024 Modern Avenue Group Co., Ltd. announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released: CN¥0.022 loss per share (vs CN¥0.03 loss in 3Q 2022) Third quarter 2023 results: CN¥0.022 loss per share (improved from CN¥0.03 loss in 3Q 2022). Revenue: CN¥57.5m (up 21% from 3Q 2022). Net loss: CN¥16.0m (loss narrowed 26% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 28
Second quarter 2023 earnings released: EPS: CN¥0.02 (vs CN¥0.11 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.02 (down from CN¥0.11 in 2Q 2022). Revenue: CN¥66.9m (up 28% from 2Q 2022). Net income: CN¥14.4m (down 81% from 2Q 2022). Profit margin: 22% (down from 149% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 01
First quarter 2023 earnings released: CN¥0.075 loss per share (vs CN¥0.015 loss in 1Q 2022) First quarter 2023 results: CN¥0.075 loss per share (further deteriorated from CN¥0.015 loss in 1Q 2022). Revenue: CN¥90.5m (up 29% from 1Q 2022). Net loss: CN¥53.6m (loss widened 384% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jul 01
Modern Avenue Group Co., Ltd., Annual General Meeting, Jul 21, 2023 Modern Avenue Group Co., Ltd., Annual General Meeting, Jul 21, 2023, at 14:00 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 accounts; to consider 2022 annual report and its summary; to consider 2022 profit distribution plan; and to consider other matters; and to consider other matters. Board Change • Jun 30
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Chairman & MD Yichao Lin is the most experienced director on the board, commencing their role in 2019. Independent Director Peng Zhang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. Chairman & MD Yichao Lin is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.03 loss per share (vs CN¥0.049 profit in 3Q 2021) Third quarter 2022 results: CN¥0.03 loss per share (down from CN¥0.049 profit in 3Q 2021). Revenue: CN¥47.4m (down 43% from 3Q 2021). Net loss: CN¥21.6m (down 162% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥2.88, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 29x in the Specialty Retail industry in China. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥3.05, the stock trades at a trailing P/E ratio of 32.7x. Average trailing P/E is 31x in the Specialty Retail industry in China. Total loss to shareholders of 32% over the past three years. Buying Opportunity • Aug 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be CN¥3.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 59% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.11 (vs CN¥0.006 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.11 (up from CN¥0.006 loss in 2Q 2021). Revenue: CN¥52.2m (down 32% from 2Q 2021). Net income: CN¥77.7m (up CN¥82.0m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.015 loss per share (up from CN¥0.023 loss in 1Q 2021). Revenue: CN¥70.1m (down 40% from 1Q 2021). Net loss: CN¥11.1m (loss narrowed 32% from 1Q 2021). Revenue missed analyst estimates by 17%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 3 experienced directors. No highly experienced directors. Chairman of the Supervisory Board Madi Chen is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 21
Modern Avenue Group Co., Ltd. to Report Fiscal Year 2021 Results on Apr 27, 2022 Modern Avenue Group Co., Ltd. announced that they will report fiscal year 2021 results on Apr 27, 2022 Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS CN¥0.049 (vs CN¥0.04 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥82.6m (up 15% from 3Q 2020). Net income: CN¥35.0m (up CN¥63.3m from 3Q 2020). Profit margin: 42% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 27
Second quarter 2021 earnings released: CN¥0.006 loss per share (vs CN¥0.10 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: CN¥76.4m (down 33% from 2Q 2020). Net loss: CN¥4.27m (down 106% from profit in 2Q 2020). Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorated over the past week After last week's 23% share price decline to CN¥3.26, the stock trades at a trailing P/E ratio of 72.9x. Average trailing P/E is 16x in the Specialty Retail industry in China. Total returns to shareholders of 77% over the past year. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 28% share price gain to CN¥3.01, the stock trades at a trailing P/E ratio of 67.3x. Average trailing P/E is 18x in the Specialty Retail industry in China. Total loss to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improved over the past week After last week's 23% share price gain to CN¥1.90, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 20x in the Specialty Retail industry in China. Total loss to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥1.32, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 19x in the Specialty Retail industry in China. Total loss to shareholders of 87% over the past three years. Reported Earnings • May 03
First quarter 2021 earnings released: CN¥0.023 loss per share (vs CN¥0.052 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: CN¥117.6m (down 38% from 1Q 2020). Net loss: CN¥16.2m (loss narrowed 56% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS CN¥0.01 (vs CN¥2.06 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥511.9m (down 63% from FY 2019). Net income: CN¥7.32m (up CN¥1.48b from FY 2019). Profit margin: 1.4% (up from net loss in FY 2019). Announcement • Mar 08
Modern Avenue Group Co., Ltd. to Report Fiscal Year 2020 Results on Apr 16, 2021 Modern Avenue Group Co., Ltd. announced that they will report fiscal year 2020 results on Apr 16, 2021 Announcement • Jan 22
Modern Avenue Group Co., Ltd. Announces management Appointments Modern Avenue Group Co., Ltd. approved the proposal to appoint Wei Yong as non-independent directors; appointment of Zhang Peng, Qiu Shuang and Chen Kaimin as independent directors; appointment of Chen Yueyue and Lin Zhiting as shareholder supervisors at Extraordinary General Meeting held on January 18, 2021. Is New 90 Day High Low • Jan 04
New 90-day low: CN¥1.41 The company is down 23% from its price of CN¥1.83 on 30 September 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: CN¥1.68 The company is down 10.0% from its price of CN¥1.87 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is down 4.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day low: CN¥1.76 The company is down 4.0% from its price of CN¥1.84 on 04 August 2020. The Chinese market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is down 15% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total losses of CN¥1.44b, with losses widening by CN¥1.36b from the prior year. Total revenue was CN¥784.8m over the last 12 months, down 47% from the prior year. Announcement • Aug 08
Modern Avenue Group Co., Ltd. to Report First Half, 2020 Results on Aug 26, 2020 Modern Avenue Group Co., Ltd. announced that they will report first half, 2020 results on Aug 26, 2020 
