Board Change • Jul 08
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jieming Liu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 08
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jieming Liu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
Wuling Motors Holdings Limited, Annual General Meeting, Jun 11, 2026 Wuling Motors Holdings Limited, Annual General Meeting, Jun 11, 2026. Announcement • Mar 17
Wuling Motors Holdings Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Wuling Motors Holdings Limited announced that they will report fiscal year 2025 results at 12:30 PM, China Standard Time on Mar 30, 2026 Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jieming Liu was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 14
Wuling Motors Holdings Limited to Report First Half, 2025 Results on Aug 26, 2025 Wuling Motors Holdings Limited announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Jun 12
Wuling Motors Holdings Limited Approves Final Dividend for the Year Ended 31 December 2024 Wuling Motors Holdings Limited at its AGM held on June 12, 2025 approved final dividend of 0.5 HK cent per Share for the year ended 31 December 2024. As stated in the notice of the Annual General Meeting dated 29 April 2025, the register of members of the Company will be closed from Tuesday, 24 June 2025 to Friday, 27 June 2025 (both days inclusive), for the purpose of determining the Shareholders' entitlement to the Final Dividend and during which period no transfer of the Shares will be effected. In order to qualify for the Final Dividend, all completed transfer forms accompanied by the relevant share certificates of the Company must be lodged with the Company's branch share registrar, Tricor Investors Services Limited, at 17/F., Far East Finance Centre, 16 Harcourt Road, Hong Kong, not later than 4:30 p.m. on Monday, 23 June 2025. Announcement • Mar 26
Wuling Motors Holdings Limited, Annual General Meeting, Jun 12, 2025 Wuling Motors Holdings Limited, Annual General Meeting, Jun 12, 2025. Announcement • Mar 13
Wuling Motors Holdings Limited to Report Fiscal Year 2024 Results on Mar 25, 2025 Wuling Motors Holdings Limited announced that they will report fiscal year 2024 results on Mar 25, 2025 Announcement • Mar 05
Wuling Motors Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2024 Wuling Motors Holdings Limited provided consolidated earnings guidance for the year ended 31 December 2024. for the year, the Group will report a net profit of approximately RMB 104,000,000 for the year ended 31 December 2024, representing an increase of approximately 50% as compared to the net profit of RMB 69,456,000 for the year ended 31 December 2023; and (ii) the Company will also report a profit attributable to the owners of the Company of approximately RMB 42,000,000 for the year ended 31 December 2024, representing an increase of approximately 79% as compared to the profit attributable to the owners of the Company of RMB 23,477,000 for the year ended 31 December 2023. Based on the information currently available, the Board wishes to further announce despite a decrease in Group's total revenue due to the unfavourable market condition during the year, the compensation rebate in relation to the supply of the components of electric vehicles helped to alleviate the negative impact inflicted on the Group's gross profit to certain extent. Coupled with the positive effects from a decrease in general and administrative expenses resulting from the continuous cost control measures implemented by the Group, an increase in government grants income, as well as the decreases in the share of losses of associates, including Liuzhou Wuling New Energy Motors Company Limited, which operations had been slightly improved in the year 2024, net profit of the Group and the profit attributable to the owners of the Company for the year ended 31 December 2024 had therefore been significantly improved as compared to previous year. Announcement • Feb 17
Wuling Motors Holdings Limited Announces Chief Executive Officer Changes The Board of directors of Wuling Motors Holdings Limited announced that Mr. Song Wei ("Mr. Song") has resigned as the chief executive officer of the Company (the "CEO") with effect from 18 February 2025 the "Resignation"due to the management redesignation programme of Guangxi Automobile Holdings Limited ("Guangxi Automobile"), the ultimate controlling shareholder of the Company, where Mr. Song has been redesignated as a senior executive of another group company. The Board also announces that Mr. Yang Jie ("Mr. Yang") has been appointed as the CEO for an initial term of three years with effect from 18 February 2025 (the "Appointment"). Mr. Yang, aged 50, has over 27 years of extensive experience in sales and marketing, as well as the corporate management of the automobile industry. Mr. Yang started his career path in 1997. From September 1997 to December 2017, he was employed by SAIC-GM-Wuling Automobile* () ("SGMW"), a major customer of the business divisions of vehicles' power supply systems and automotive components and other industrial services of the Group. During his tenure of employment with SGMW, Mr. Yang was primarily deployed in the sales department, where he was promoted to the marketing director and the general manager of the sales department, respectively. From October 2015 to December 2017, he was promoted to the vice general manager of PT SGMW Motor Indonesia, the branch office of SGMW in Indonesia, in charge of the initial set-up and operation of the first overseas production plant of SGMW. Mr. Yang left SGMW in December 2017 and started his career in consultancy by acting as the consultant and project controller of other electric vehicles enterprises in the People's Republic of China (the "PRC"). Mr. Yang joined Guangxi Automobile Group in May 2021. Prior to his appointment as the CEO, Mr. Yang served as the senior sales and marketing consultant of Liuzhou Wuling New Energy Motors Company Limited, a subsidiary of Guangxi Automobile and is also currently an associate company of the Company. Mr. Yang obtained a bachelor' degree in agricultural mechanisation from South China University of Tropical Agriculture (currently known as Hainan University) in the PRC in June 1997, a master's degree in international trade from Wuhan University of Technology in the PRC in December 2013, and a master's degree in business administration from China Europe International Business School in the PRC in November 2016. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: CN¥0 (vs CN¥0 in 1H 2023) First half 2024 results: EPS: CN¥0 (in line with 1H 2023). Revenue: CN¥3.95b (down 23% from 1H 2023). Net income: CN¥1.59m (up 4.3% from 1H 2023). Profit margin: 0% (in line with 1H 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • Aug 12
Wuling Motors Holdings Limited to Report First Half, 2024 Results on Aug 22, 2024 Wuling Motors Holdings Limited announced that they will report first half, 2024 results on Aug 22, 2024 Announcement • Jul 31
Wuling Motors Holdings Limited Announces Board Changes The board of directors of Wuling Motors Holdings Limited announced that Mr. Yang Jianyong ("Mr. Yang") has tendered his resignation as an executive Director with effect from 31 July 2024 (the "Resignation") in order to devote more time to his other management positions of the group companies of Guangxi Automobile Holdings Limited ("Guangxi Automobile"), the ultimate controlling shareholder of the Company. The Board announced that Ms. Zhu Fengyan ("Ms. Zhu") has been appointed an executive Director with effect from 31 July 2024. Ms. Zhu Fengyan, aged 45, obtained a bachelor's degree in management at Wuhan Chemical Technology College () (currently known as Wuhan Institute of Technology) in the People's Republic of China (the "PRC") in June 2000. Ms. Zhu completed and passed the assessments of the Second Phase of the Centralised Training Period for Management Accounting Training in the "Ten Hundred Thousand" High-End Accounting Talent () in Guangxi Province of the PRC in February 2023 and the Centralised Training Period in the Enterprises Directly under the Autonomous Region in the "Ten Hundred Thousand" High-End Accounting Talent in Guangxi Province of the PRC in May 2023 jointly organised by the Department of Finance of Guangxi Zhuang Autonomous Region and Shanghai National Accounting Institute, respectively. Ms. Zhu obtained the qualification as auditor and senior accountant from the Department of Human Resources and Social Security of Guangxi Zhuang Autonomous Region in October 2011 and in December 2018, respectively. Ms. Zhu has been working as the Deputy Chief Accountant of Guangxi Automobile, a director of the Finance and Securities Department since December 2023 and a director of Audit and Legal Affairs Department of Guangxi Automobile since June 2024. Ms. Zhu joined Guangxi Automobile in July 2000 and has over 20 years of extensive experience in the financial, accounting, and legal aspects of the automotive industry. Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: CN¥0.007 (vs CN¥0.007 in FY 2022) Full year 2023 results: EPS: CN¥0.007 (in line with FY 2022). Revenue: CN¥10.5b (down 17% from FY 2022). Net income: CN¥23.5m (up 3.8% from FY 2022). Profit margin: 0.2% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 01
Dividend of HK$0.005 announced Shareholders will receive a dividend of HK$0.005. Ex-date: 21st June 2024 Payment date: 31st July 2024 Dividend yield will be 11%, which is higher than the industry average of 2.3%. Sustainability & Growth The dividend has increased by an average of 1.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 29% to shift the payout ratio to a potentially unsustainable range, which is more than the 27% EPS decline seen over the last 5 years. Announcement • Mar 29
Wuling Motors Holdings Limited, Annual General Meeting, Jun 14, 2024 Wuling Motors Holdings Limited, Annual General Meeting, Jun 14, 2024. Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.007 (vs CN¥0.007 in FY 2022) Full year 2023 results: EPS: CN¥0.007 (in line with FY 2022). Revenue: CN¥10.5b (down 17% from FY 2022). Net income: CN¥23.5m (up 3.8% from FY 2022). Profit margin: 0.2% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Announcement • Mar 27
Wuling Motors Holdings Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on 31 July 2024 Wuling Motors Holdings Limited proposed final dividend of HKD 0.005 per share for the year ended December 31, 2023. Ex-dividend date is 21 June 2024. Record date is 28 June 2024. Payment date is 31 July 2024. Announcement • Mar 16
Wuling Motors Holdings Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Wuling Motors Holdings Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 New Risk • Sep 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 158% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (16% average weekly change). High level of non-cash earnings (158% accrual ratio). Reported Earnings • Aug 24
First half 2023 earnings released: EPS: CN¥0 (vs CN¥0.024 loss in 1H 2022) First half 2023 results: EPS: CN¥0 (improved from CN¥0.024 loss in 1H 2022). Revenue: CN¥5.09b (down 19% from 1H 2022). Net income: CN¥1.52m (up CN¥82.1m from 1H 2022). Profit margin: 0% (up from net loss in 1H 2022). The move to profitability was driven by lower expenses. Announcement • Aug 12
Wuling Motors Holdings Limited to Report Q2, 2023 Results on Aug 23, 2023 Wuling Motors Holdings Limited announced that they will report Q2, 2023 results on Aug 23, 2023 Announcement • Jul 27
Wuling Motors Holdings Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 June 2023 Wuling Motors Holdings Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2023. For the six months ended 30 June 2023, company expects net profit of not more than RMB 12,000,000 and profit attributable to the owners of the Company of approximately RMB 1,000,000. Board Change • Jul 26
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jinli Xu was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
