Board Change • May 20
Less than half of directors are independent There are 7 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: 7 new directors. 1 experienced director. 1 highly experienced director. 4 independent directors (5 non-independent directors). GM & Vice Chairman Yu Bing Chen is the most experienced director on the board, commencing their role in 2014. Non-Independent Director Yiyi Chen was the last independent director to join the board, commencing their role in 2025. 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. Announcement • Apr 30
Shanghai Stonehill Technology Co., Ltd. (SZSE:002195) announces an Equity Buyback for CNY 40 million worth of its shares. Shanghai Stonehill Technology Co., Ltd. (SZSE:002195) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of ordinary class A shares. The shares will be repurchased at a price of not more than CNY 14.11 per share. The shares purchased will be used to reduce the registered capital of the company. The shares repurchased will be cancelled. The program is subject to approval from shareholders. The program will be valid till 6 months from the date the company's shareholders' meeting approves the repurchase plan. Announcement • Apr 28
Shanghai Stonehill Technology Co., Ltd., Annual General Meeting, May 20, 2026 Shanghai Stonehill Technology Co., Ltd., Annual General Meeting, May 20, 2026, at 14:00 China Standard Time. Location: 35F, T1, No. 1455, Huanke Road, Pudong New Area, Shanghai China Announcement • Mar 31
Shanghai Stonehill Technology Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Shanghai Stonehill Technology Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Dec 31
Shanghai Stonehill Technology Co., Ltd. to Report Fiscal Year 2025 Results on Apr 28, 2026 Shanghai Stonehill Technology Co., Ltd. announced that they will report fiscal year 2025 results on Apr 28, 2026 Announcement • Sep 30
Shanghai Stonehill Technology Co., Ltd. to Report Q3, 2025 Results on Oct 29, 2025 Shanghai Stonehill Technology Co., Ltd. announced that they will report Q3, 2025 results on Oct 29, 2025 Announcement • Jul 02
Shanghai Stonehill Technology Co., Ltd. to Report First Half, 2025 Results on Aug 26, 2025 Shanghai Stonehill Technology Co., Ltd. announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Jun 03
Shanghai Stonehill Technology Co., Ltd. (SZSE:002195) announces an Equity Buyback for CNY 60 million worth of its shares. Shanghai Stonehill Technology Co., Ltd. (SZSE:002195) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of ordinary class A shares. The shares will be repurchased at a price of not more than CNY 8.28 per share. The shares purchased will be used to reduce the registered capital of the company. The program will be funded out of the company's own funds and/or self-raised funds (including special bank repurchase loans, etc.). The program is subject to approval from shareholders. The program will be valid till 6 months from the date the company's shareholders' meeting approves the repurchase plan. Announcement • Jun 02
Shanghai Stonehill Technology Co., Ltd., Annual General Meeting, Jun 24, 2025 Shanghai Stonehill Technology Co., Ltd., Annual General Meeting, Jun 24, 2025, at 14:00 China Standard Time. Location: 35F, T1, No. 1455, Huanke Road, Pudong New Area, Shanghai China Announcement • Mar 31
Shanghai Stonehill Technology Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Shanghai Stonehill Technology Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Announcement • Dec 31
Shanghai Stonehill Technology Co., Ltd. to Report Fiscal Year 2024 Results on Apr 22, 2025 Shanghai Stonehill Technology Co., Ltd. announced that they will report fiscal year 2024 results on Apr 22, 2025 Reported Earnings • Oct 28
Third quarter 2024 earnings released: EPS: CN¥0.001 (vs CN¥0.012 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.001 (down from CN¥0.012 in 3Q 2023). Revenue: CN¥144.5m (up 4.6% from 3Q 2023). Net income: CN¥5.38m (down 92% from 3Q 2023). Profit margin: 3.7% (down from 50% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Sep 30
Shanghai Stonehill Technology Co., Ltd. to Report Q3, 2024 Results on Oct 28, 2024 Shanghai Stonehill Technology Co., Ltd. announced that they will report Q3, 2024 results on Oct 28, 2024 Reported Earnings • Aug 26
Second quarter 2024 earnings released: CN¥0.007 loss per share (vs CN¥0.027 profit in 2Q 2023) Second quarter 2024 results: CN¥0.007 loss per share (down from CN¥0.027 profit in 2Q 2023). Revenue: CN¥164.0m (up 9.8% from 2Q 2023). Net loss: CN¥41.3m (down 128% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Shanghai Stonehill Technology Co., Ltd. to Report First Half, 2024 Results on Aug 26, 2024 Shanghai Stonehill Technology Co., Ltd. announced that they will report first half, 2024 results on Aug 26, 2024 Announcement • May 29
Shanghai Stonehill Technology Co., Ltd. (SZSE:002195) commences an Equity Buyback Plan for CNY 120 million worth of its shares, under the authorization approved on May 15, 2024. Shanghai Stonehill Technology Co., Ltd. (SZSE:002195) commences share repurchases on May 27, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 15, 2024. As per the mandate, the company is authorized to repurchase up to CNY 120 million worth of its shares. The repurchase price shall not exceed CNY 4.39 per share. The repurchased shares will be used to reduce the company's registered capital and will be cancelled. The repurchases will be funded using company's own funds. The repurchase period will be not more than 6 months. Announcement • May 23
Shanghai Stonehill Technology Co., Ltd. Announces 2023 Final Profit Distribution Plan to Be Implemented (A Shares), Payable on 24 May 2024 Shanghai Stonehill Technology Co., Ltd. announced 2023 final profit distribution of (tax included) CNY 0.10 per 10 A shares. Record date is 23 May 2024, Ex-date is 24 May 2024 and Payment date is 24 May 2024. Announcement • Apr 19
Shanghai Stonehill Technology Co., Ltd., Annual General Meeting, May 15, 2024 Shanghai Stonehill Technology Co., Ltd., Annual General Meeting, May 15, 2024, at 14:00 China Standard Time. Location: 3F, No. 588, Tang'an Road, Tang Town, Pudong New Area, Shanghai China Reported Earnings • Apr 18
First quarter 2024 earnings released: EPS: CN¥0.014 (vs CN¥0.02 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.014 (down from CN¥0.02 in 1Q 2023). Revenue: CN¥174.4m (up 22% from 1Q 2023). Net income: CN¥78.3m (down 29% from 1Q 2023). Profit margin: 45% (down from 77% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 30
Shanghai Stonehill Technology Co., Ltd. to Report Q1, 2024 Results on Apr 18, 2024 Shanghai Stonehill Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 18, 2024 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥2.15, the stock trades at a trailing P/E ratio of 55.7x. Average trailing P/E is 61x in the Software industry in China. Total returns to shareholders of 30% over the past three years. Announcement • Dec 29
Shanghai Stonehill Technology Co., Ltd. to Report Fiscal Year 2023 Results on Apr 18, 2024 Shanghai Stonehill Technology Co., Ltd. announced that they will report fiscal year 2023 results on Apr 18, 2024 Board Change • Dec 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent Directors Ke Ye 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. New Risk • Nov 26
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 6.2% 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 Earnings have declined by 36% per year over the past 5 years. 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 (6.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (37% net profit margin). Announcement • Nov 22
Shanghai Stonehill Technology Co., Ltd. Announces Appointment of Non-Independent Directors Shanghai Stonehill Technology Co., Ltd. held its 3rd Extraordinary General Meeting of 2023 on 20 November 2023 were approved: Ye Ke and Xu Lei as non-independent directors. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CN¥0.012 (vs CN¥0.018 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.012 (down from CN¥0.018 in 3Q 2022). Revenue: CN¥138.2m (down 9.9% from 3Q 2022). Net income: CN¥69.5m (down 32% from 3Q 2022). Profit margin: 50% (down from 67% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.027 (vs CN¥0.021 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.027 (up from CN¥0.021 in 2Q 2022). Revenue: CN¥149.3m (down 11% from 2Q 2022). Net income: CN¥149.3m (up 28% from 2Q 2022). Profit margin: 100% (up from 69% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 21
Upcoming dividend of CN¥0.02 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Chinese dividend payers (2.0%). Higher than average of industry peers (0.4%). Announcement • May 19
Shanghai 2345 Network Holding Group Co., Ltd., Annual General Meeting, Jun 08, 2023 Shanghai 2345 Network Holding Group Co., Ltd., Annual General Meeting, Jun 08, 2023, at 14:00 China Standard Time. Agenda: To consider 2022 annual report and its summary; to consider 2022 annual accounts; to consider 2022 report of the board of directors; to consider 2022 report of the supervisory committee; to consider 2022 profit distribution plan; to consider amendments to some of the Company’s articles of association; to consider by-election of non-independent directors; and to consider by-election of independent directors. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: CN¥0.02 (vs CN¥0.019 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.02 (up from CN¥0.019 in 1Q 2022). Revenue: CN¥143.2m (down 23% from 1Q 2022). Net income: CN¥110.3m (up 3.3% from 1Q 2022). Profit margin: 77% (up from 58% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥3.51, the stock trades at a trailing P/E ratio of 48.9x. Average trailing P/E is 90x in the Software industry in China. Total returns to shareholders of 28% over the past three years. Announcement • Feb 15
Shanghai Yanhe Technology Partnership (Limited Partnership) completed the acquisition of 9.6758% stake in Shanghai 2345 Network Holding Group Co., Ltd. (SZSE:002195) from Han Meng and Zhang Shuxia. Shanghai Yanhe Technology Partnership (Limited Partnership) agreed to acquire a 9.6758% stake in Shanghai 2345 Network Holding Group Co., Ltd. (SZSE:002195) from Han Meng and Zhang Shuxia for CNY 2 billion on January 6, 2023. Under the terms, Shanghai Yanhe Technology will pay CNY 3.61 per share for the acquisition of 553.92 million shares. Han Meng will transfer 393.52 million shares and and Zhang Shuxia 160.40 million shares. Transaction is subject to approval from Shenzhen Stock Exchange
Shanghai Yanhe Technology Partnership (Limited Partnership) completed the acquisition of 9.6758% stake in Shanghai 2345 Network Holding Group Co., Ltd. (SZSE:002195) from Han Meng and Zhang Shuxia on February 13, 2023. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥2.78, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 71x in the Software industry in China. Total loss to shareholders of 16% over the past three years. Board Change • Dec 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Director Tian Hao was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.018 (vs CN¥0.018 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.018 (in line with 3Q 2021). Revenue: CN¥153.3m (down 33% from 3Q 2021). Net income: CN¥102.0m (up 2.2% from 3Q 2021). Profit margin: 67% (up from 44% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CN¥0.021 (vs CN¥0.019 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.021 (up from CN¥0.019 in 2Q 2021). Revenue: CN¥168.4m (down 31% from 2Q 2021). Net income: CN¥116.4m (up 7.7% from 2Q 2021). Profit margin: 69% (up from 44% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. Non-Employee Representative Supervisor Feng Kang was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.019 (vs CN¥0.02 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.019 (down from CN¥0.02 in 1Q 2021). Revenue: CN¥185.5m (down 28% from 1Q 2021). Net income: CN¥106.8m (down 5.5% from 1Q 2021). Profit margin: 58% (up from 44% in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS CN¥0.018 (vs CN¥0.017 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: CN¥229.6m (down 21% from 3Q 2020). Net income: CN¥99.9m (up 1.1% from 3Q 2020). Profit margin: 44% (up from 34% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.019 (vs CN¥0.019 in 2Q 2020) The company reported a mediocre second quarter result with weaker revenues, although earnings were flat and profit margins improved. Second quarter 2021 results: Revenue: CN¥244.4m (down 20% from 2Q 2020). Net income: CN¥108.1m (flat on 2Q 2020). Profit margin: 44% (up from 35% in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.02 (vs CN¥0.018 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: CN¥257.1m (down 26% from 1Q 2020). Net income: CN¥113.1m (up 11% from 1Q 2020). Profit margin: 44% (up from 29% in 1Q 2020). 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. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 25% share price decline to CN¥1.64, the stock is trading at a trailing P/E ratio of 28.7x, down from the previous P/E ratio of 38.3x. This compares to an average P/E of 53x in the Software industry in China. Total return to shareholders over the past three years is a loss of 52%. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥1.95 The company is down 30% from its price of CN¥2.79 on 28 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 7.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day low: CN¥2.08 The company is down 28% from its price of CN¥2.89 on 09 October 2020. The Chinese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day low: CN¥2.47 The company is down 18% from its price of CN¥3.01 on 11 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 Software industry, which is down 2.0% over the same period. Is New 90 Day High Low • Nov 13
New 90-day low: CN¥2.49 The company is down 18% from its price of CN¥3.04 on 14 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 10.0% over the same period. Is New 90 Day High Low • Oct 27
New 90-day low: CN¥2.81 The company is down 8.0% from its price of CN¥3.07 on 29 July 2020. The Chinese market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 9.0% over the same period. Reported Earnings • Oct 26
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥335.6m, down 67% from the prior year. Total revenue was CN¥1.19b over the last 12 months, down 66% from the prior year.