New Risk • May 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 148% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 42% per year over the past 5 years. High level of non-cash earnings (148% accrual ratio). Minor Risk High level of debt (231% net debt to equity). Buy Or Sell Opportunity • Apr 30
Now 22% undervalued Over the last 90 days, the stock has risen 183% to CN¥317. The fair value is estimated to be CN¥406, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Apr 29
Glory View Technology Co., Ltd., Annual General Meeting, May 20, 2026 Glory View Technology Co., Ltd., Annual General Meeting, May 20, 2026, at 15:00 China Standard Time. Location: 8F, No. 111, Yingri Road, Huangpu District, Guangzhou, Guangdong China Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: CN¥0.17 (vs CN¥0.49 loss in FY 2024) Full year 2025 results: EPS: CN¥0.17 (up from CN¥0.49 loss in FY 2024). Revenue: CN¥1.18b (up 80% from FY 2024). Net income: CN¥26.4m (up CN¥102.1m from FY 2024). Profit margin: 2.2% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 142% per year, which means it is well ahead of earnings. Announcement • Mar 31
Glory View Technology Co., Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Glory View Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 New Risk • Jan 22
New major risk - Revenue and earnings growth Earnings have declined by 45% 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 (2.7x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 45% per year over the past 5 years. High level of non-cash earnings (68% accrual ratio). Announcement • Dec 31
Glory View Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Glory View Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 New Risk • Nov 10
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). High level of non-cash earnings (68% accrual ratio). Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.31 (vs CN¥0.14 loss in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.31 (up from CN¥0.14 loss in 3Q 2024). Revenue: CN¥363.2m (up CN¥318.2m from 3Q 2024). Net income: CN¥47.2m (up CN¥68.4m from 3Q 2024). Profit margin: 13% (up from net loss in 3Q 2024). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China. New Risk • Oct 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 71% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). High level of non-cash earnings (68% accrual ratio). Minor Risk High level of debt (71% net debt to equity). Announcement • Sep 30
Glory View Technology Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Glory View Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 Announcement • Aug 27
Glory View Technology Co., Ltd. announced that it expects to receive CNY 1.3536988 billion in funding Glory View Technology Co., Ltd announced a private placement to issue 46,055,264 A Shares for aggregate gross proceeds of CNY 1,353,698,800 on August 27, 2025. The shares issued in the transaction will have a lockup period of 6 months. The transaction will include participation from no more than 35 specific Investors. The transaction has been approved in the 10th Meeting of the 4th Board of Directors, supervisors and is subject to the approval of the company's shareholders from its regular shareholders’ meeting, the Shenzhen Stock Exchange and the China Securities Regulatory Commission. Board Change • Aug 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Ying Yang was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 21
Glory View Technology Co., Ltd. Proposes 2025 Interim Profit Distribution Plan Glory View Technology Co., Ltd. announced that at the EGM to be held on September 4, 2025, the company proposed 2025 interim profit distribution plan of Cash dividend/10 shares (tax included): CNY 0.50000000. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: CN¥0.25 (vs CN¥0.003 loss in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.25 (up from CN¥0.003 loss in 2Q 2024). Revenue: CN¥699.2m (up 430% from 2Q 2024). Net income: CN¥38.6m (up CN¥39.0m from 2Q 2024). Profit margin: 5.5% (up from net loss in 2Q 2024). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in China. Announcement • Jul 02
Glory View Technology Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Glory View Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Declared Dividend • May 19
Dividend reduced to CN¥0.05 Dividend of CN¥0.05 is 67% lower than last year. Ex-date: 23rd May 2025 Payment date: 23rd May 2025 Dividend yield will be 0.05%, which is lower than the industry average of 0.8%. Reported Earnings • Apr 24
Full year 2024 earnings released: CN¥0.69 loss per share (vs CN¥0.39 profit in FY 2023) Full year 2024 results: CN¥0.69 loss per share (down from CN¥0.39 profit in FY 2023). Revenue: CN¥657.8m (down 15% from FY 2023). Net loss: CN¥75.7m (down 279% from profit in FY 2023). Announcement • Apr 24
Glory View Technology Co., Ltd., Annual General Meeting, May 14, 2025 Glory View Technology Co., Ltd., Annual General Meeting, May 14, 2025, at 15:00 China Standard Time. Location: 8F, No. 111, Yingri Road, Huangpu District, Guangzhou, Guangdong China Announcement • Mar 31
Glory View Technology Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Glory View Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (11% average weekly change). Announcement • Dec 31
Glory View Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 24, 2025 Glory View Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 24, 2025 Announcement • Nov 16
Glory View Technology Co., Ltd. Approves Board Elections Glory View Technology Co., Ltd. announced at second extraordinary general meeting of 2024 held on 14 November 2024, the shareholders elected Yang Ying and Li Mincai as independent directors; Liu Xin as non-employee supervisor of the company. New Risk • Oct 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. High level of non-cash earnings (29% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Oct 30
Third quarter 2024 earnings released: CN¥0.19 loss per share (vs CN¥0.012 profit in 3Q 2023) Third quarter 2024 results: CN¥0.19 loss per share (down from CN¥0.012 profit in 3Q 2023). Revenue: CN¥45.0m (down 68% from 3Q 2023). Net loss: CN¥21.2m (down CN¥22.5m from profit in 3Q 2023). Announcement • Sep 30
Glory View Technology Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Glory View Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 29
Second quarter 2024 earnings released: CN¥0.004 loss per share (vs CN¥0.005 profit in 2Q 2023) Second quarter 2024 results: CN¥0.004 loss per share (down from CN¥0.005 profit in 2Q 2023). Revenue: CN¥131.9m (down 31% from 2Q 2023). Net loss: CN¥386.5k (down 176% from profit in 2Q 2023). Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥20.49, the stock trades at a trailing P/E ratio of 53.2x. Average trailing P/E is 57x in the Software industry in China. Total loss to shareholders of 36% over the past year. Announcement • Jun 29
Glory View Technology Co., Ltd. to Report First Half, 2024 Results on Aug 29, 2024 Glory View Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 29, 2024 Declared Dividend • May 27
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 31st May 2024 Payment date: 31st May 2024 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • May 25
Glory View Technology Co., Ltd. Implements 2023 Final Profit Distribution Plan of A Shares, Payable on 31 May 2024 Glory View Technology Co., Ltd. announced 2023 final profit distribution plan to be implemented (A shares) as Cash dividend/10 shares (tax included): CNY 1.50000000. Record date: 30 May 2024, Ex-date: 31 May 2024, Payment date: 31 May 2024. Announcement • Apr 28
Glory View Technology Co., Ltd., Annual General Meeting, May 17, 2024 Glory View Technology Co., Ltd., Annual General Meeting, May 17, 2024, at 15:00 China Standard Time. Location: 8F, No. 111, Yingri Road, Huangpu District, Guangzhou, Guangdong 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 2024 remuneration plan for directors; to consider 2024 remuneration plan for supervisors; to consider 2023 profit distribution plan; to consider Reappointment of 2024 audit firm; to consider Amendments to internal systems. Announcement • Apr 27
Glory View Technology Co., Ltd. Proposes Final Dividend for the Year 2023 Glory View Technology Co., Ltd. announced on 26 April 2024 the profit distribution proposal for 2023 as follows: Final Cash dividend/10 shares (tax included): CNY 1.50. Reported Earnings • Apr 26
Full year 2023 earnings released: EPS: CN¥0.39 (vs CN¥0.75 in FY 2022) Full year 2023 results: EPS: CN¥0.39 (down from CN¥0.75 in FY 2022). Revenue: CN¥770.6m (up 3.3% from FY 2022). Net income: CN¥42.2m (down 33% from FY 2022). Profit margin: 5.5% (down from 8.5% in FY 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥18.91, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 68x in the Software industry in China. Total loss to shareholders of 49% over the past year. Announcement • Mar 30
Glory View Technology Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Glory View Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥26.59, the stock trades at a trailing P/E ratio of 75.3x. Average trailing P/E is 80x in the Software industry in China. Total loss to shareholders of 27% over the past year. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥19.73, the stock trades at a trailing P/E ratio of 55.9x. Average trailing P/E is 67x in the Software industry in China. Total loss to shareholders of 44% over the past year. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥19.97, the stock trades at a trailing P/E ratio of 56.6x. Average trailing P/E is 67x in the Software industry in China. Total loss to shareholders of 44% over the past year. Announcement • Dec 29
Glory View Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 26, 2024 Glory View Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 26, 2024 Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: CN¥0.012 (vs CN¥0.32 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.012 (down from CN¥0.32 in 3Q 2022). Revenue: CN¥139.1m (down 44% from 3Q 2022). Net income: CN¥1.36m (down 95% from 3Q 2022). Profit margin: 1.0% (down from 11% in 3Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Aug 29
Second quarter 2023 earnings released Second quarter 2023 results: EPS: CN¥0.005. Net income: CN¥510.1k (up CN¥510.1k from 2Q 2022). Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥32.18, the stock trades at a trailing P/E ratio of 51x. Average trailing P/E is 67x in the Software industry in China. Announcement • May 19
Glory View Technology Co., Ltd. Approves the Cash Dividend for the Year 2022 Glory View Technology Co., Ltd. approved the cash dividend of CNY 3.00 (tax included) per 10 shares for the year 2022, at the AGM held on May 16, 2023. Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: CN¥0.026 (vs CN¥0.38 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.026 (down from CN¥0.38 in 1Q 2022). Revenue: CN¥64.1m (down 74% from 1Q 2022). Net income: CN¥2.36m (down 91% from 1Q 2022). Profit margin: 3.7% (down from 11% in 1Q 2022). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to CN¥37.62, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 83x in the Software industry in China. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥47.30, the stock trades at a trailing P/E ratio of 49x. Average trailing P/E is 81x in the Software industry in China. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.