Announcement • May 29
China Chengtong Development Group Limited, Annual General Meeting, Jun 25, 2026 China Chengtong Development Group Limited, Annual General Meeting, Jun 25, 2026, at 10:00 China Standard Time. Location: 22nd floor, li po chun chambers, 189 des voeux road central, Hong Kong New Risk • May 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €85.8m (US$99.7m) 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. 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 (41% average weekly change). Earnings have declined by 28% per year over the past 5 years. High level of non-cash earnings (44% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€85.8m market cap, or US$99.7m). Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Lei Liu 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. Announcement • Mar 17
China Chengtong Development Group Limited announces Annual dividend, payable on July 27, 2026 China Chengtong Development Group Limited announced Annual dividend of HKD 0.0025 per share payable on July 27, 2026, ex-date on July 09, 2026 and record date on July 10, 2026. Announcement • Mar 03
China Chengtong Development Group Limited to Report Fiscal Year 2025 Results on Mar 13, 2026 China Chengtong Development Group Limited announced that they will report fiscal year 2025 results on Mar 13, 2026 Announcement • Aug 12
China Chengtong Development Group Limited to Report First Half, 2025 Results on Aug 25, 2025 China Chengtong Development Group Limited announced that they will report first half, 2025 results on Aug 25, 2025 Announcement • Jun 24
China Chengtong Development Group Limited Approves Final Dividend for the Year Ended 31 December 2024 China Chengtong Development Group Limited at its AGM held on June 24, 2025, approved final dividend of 0.20 HongKong cents per share for the year ended 31 December 2024. Announcement • May 29
China Chengtong Development Group Limited, Annual General Meeting, Jun 24, 2025 China Chengtong Development Group Limited, Annual General Meeting, Jun 24, 2025, at 10:00 China Standard Time. Location: suite 6406, 64th floor, central plaza, 18 harbour road, wanchai, Hong Kong Announcement • Mar 03
China Chengtong Development Group Limited Proposes Final Cash Dividend for the Year Ended 31 December 2024, Payable on 18 July 2025 China Chengtong Development Group Limited proposed final cash dividend of HKD 0.002 per share for the year ended 31 December 2024, payable on 18 July 2025. Record date is 04 July 2025. Ex-dividend date is 02 July 2025. Date of shareholders' approval is to be announced. Announcement • Feb 20
China Chengtong Development Group Limited to Report Fiscal Year 2024 Results on Mar 03, 2025 China Chengtong Development Group Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 03, 2025 Reported Earnings • Aug 30
First half 2024 earnings released: EPS: HK$0.004 (vs HK$0.007 in 1H 2023) First half 2024 results: EPS: HK$0.004 (down from HK$0.007 in 1H 2023). Revenue: HK$323.5m (down 13% from 1H 2023). Net income: HK$26.7m (down 31% from 1H 2023). Profit margin: 8.3% (down from 10% in 1H 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year whereas the company’s share price has fallen by 27% per year. Announcement • Aug 16
China Chengtong Development Group Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2024 China Chengtong Development Group Limited provided consolidated earnings guidance for the six months ended 30 June 2024. The company announced that based on the preliminary assessment of the unaudited consolidated management accounts of the company for the six months ended 30 June 2024 (first half 2024) and the information currently available to the board, the group is expected to record a consolidated profit after tax within a range from approximately HKD 25 million to HKD 27 million for first half 2024, which represented a decrease of approximately 30% as compared with the consolidated profit after tax recorded for the six months ended 30 June 2023 (first half 2023). The financial performance of the Group for first half 2024 was mainly affected by the impact of external factors such as global economic downturn, intensified competition and tightened supervision within the finance lease industry which shifted the industry from rapid growth to steady development. Amid this transition, the Group bolstered its risk management practices and became more discerning in engaging new leasing arrangements. Consequently, the Group only entered into three new sale and leaseback arrangements during first half 2024 and the revenue from the leasing segment decreased by more than 17% from first half 2023. Announcement • Aug 14
China Chengtong Development Group Limited to Report First Half, 2024 Results on Aug 26, 2024 China Chengtong Development Group Limited announced that they will report first half, 2024 results on Aug 26, 2024 Announcement • May 26
China Chengtong Development Group Limited, Annual General Meeting, Jun 21, 2024 China Chengtong Development Group Limited, Annual General Meeting, Jun 21, 2024, at 10:00 China Standard Time. Location: suite 6406, 64th floor, central plaza, 18 harbour road, wanchai, Hong Kong Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: HK$0.011 (vs HK$0.013 in FY 2022) Full year 2023 results: EPS: HK$0.011 (down from HK$0.013 in FY 2022). Revenue: HK$740.0m (down 42% from FY 2022). Net income: HK$68.0m (down 11% from FY 2022). Profit margin: 9.2% (up from 6.0% in FY 2022). 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 whereas the company’s share price has fallen by 22% per year. Declared Dividend • Mar 11
Dividend of HK$0.0034 announced Shareholders will receive a dividend of HK$0.0034. Ex-date: 3rd July 2024 Payment date: 19th July 2024 Dividend yield will be 52%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (25% 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 dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 72% to shift the payout ratio to a potentially unsustainable range, which is more than the 10% EPS decline seen over the last 5 years. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: HK$0.011 (vs HK$0.013 in FY 2022) Full year 2023 results: EPS: HK$0.011 (down from HK$0.013 in FY 2022). Revenue: HK$740.0m (down 42% from FY 2022). Net income: HK$68.0m (down 11% from FY 2022). Profit margin: 9.2% (up from 6.0% in FY 2022). 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 whereas the company’s share price has fallen by 24% per year. New Risk • Mar 09
New major risk - Revenue and earnings growth Earnings have declined by 1.2% 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 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 (44% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€57.2m market cap, or US$62.5m). Announcement • Mar 08
China Chengtong Development Group Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on July 19, 2024 China Chengtong Development Group Limited proposed a final dividend of HKD 0.0034 per share for the year ended December 31, 2023. The ex-date is on July 3, 2024 and the record date is on July 5, 2024. The dividend is payable on July 19, 2024. Announcement • Feb 27
China Chengtong Development Group Limited to Report Fiscal Year 2023 Results on Mar 08, 2024 China Chengtong Development Group Limited announced that they will report fiscal year 2023 results on Mar 08, 2024 Reported Earnings • Aug 31
First half 2023 earnings released: EPS: HK$0.007 (vs HK$0.004 in 1H 2022) First half 2023 results: EPS: HK$0.007 (up from HK$0.004 in 1H 2022). Revenue: HK$372.8m (down 22% from 1H 2022). Net income: HK$38.7m (up 84% from 1H 2022). Profit margin: 10% (up from 4.4% in 1H 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • Aug 20
China Chengtong Development Group Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2023 China Chengtong Development Group Limited provided consolidated earnings guidance for the six months ended 30 June 2023. The group is expected to record a consolidated profit after tax of approximately HKD 39 million for the first half 2023, representing approximately 79% increment as compared with the consolidated profit after tax of approximately HKD 21.76 million recorded for the six months ended 30 June 2022. Announcement • Aug 18
China Chengtong Development Group Limited to Report First Half, 2023 Results on Aug 26, 2023 China Chengtong Development Group Limited announced that they will report first half, 2023 results on Aug 26, 2023 Announcement • Jun 27
China Chengtong Development Group Limited Approves Final Dividend for the Year Ended December 31, 2023 China Chengtong Development Group Limited announced at annual general meeting was held on June 26, 2023, the shareholders approved final dividend of 0.39 HK cents per Share for the year ended December 31, 2023. Announcement • Jun 02
China Chengtong Development Group Limited, Annual General Meeting, Jun 26, 2023 China Chengtong Development Group Limited, Annual General Meeting, Jun 26, 2023, at 10:00 China Standard Time. Location: Boardroom 34, Mezzanine Floor, Renaissance Harbour View Hotel Hong Kong, 1 Harbour Road Wanchai Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditors of the Company for the year ended 31 December 2022; to declare and approve a final dividend of HKD 0.39 cent per ordinary share of the Company for the year ended 31 December 2022; to consider directorate reelections; to authorize the board of directors of the Company to fix the remuneration of the directors of the Company; to re-appoint Baker Tilly Hong Kong Limited as the auditors of the Company and to authorize the board of directors of the Company to fix their remuneration; and to consider other matters. Announcement • Jun 01
China Chengtong Development Group Limited Proposes Final Dividend of the Company for the Year Ended 31 December 2022 China Chengtong Development Group Limited proposed final dividend of HK 0.39 cent per ordinary share of the Company for the year ended 31 December 2022 at the Annual General Meeting held on June 26, 2023. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: HK$0.013 (vs HK$0.018 in FY 2021) Full year 2022 results: EPS: HK$0.013 (down from HK$0.018 in FY 2021). Revenue: HK$1.28b (up 8.9% from FY 2021). Net income: HK$76.1m (down 27% from FY 2021). Profit margin: 6.0% (down from 8.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Jan 12
China Chengtong Development Group Limited Announces Executive Changes The board of China Chengtong Development Group Limited announced that Mr. Wang Daxiong (Mr. Wang) resigned as a non-executive Director with effect from 11 January 2023 due to his other job arrangement. Upon his resignation as a non-executive Director, Mr. Wang will cease to be a member of the audit committee of the Board and the chairman of the environmental, social and governance committee of the Board (ESG Committee). The Board also announced that with effect from 11 January 2023, Mr. Yang Tianzhou (Mr. Yang) and Mr. Gu Honglin (Mr. Gu), both of whom are existing executive Directors, have been appointed as the chairman and a member of the ESG Committee respectively. The ESG Committee comprises Mr. Yang as the chairman, Mr. Gu and Professor He Jia, an independent non-executive Director, as members with effect from 11 January 2023. Board Change • Dec 31
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 Jia He was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 24
China Chengtong Development Group Limited Appoints Gu Honglin as Executive Director and Member of the Executive Committee The board of directors of China Chengtong Development Group Limited announced that Mr. Gu Honglin has been appointed as an executive Director and a member of the executive committee of the Board, both of which will take effect from 23 December 2022. Mr. Gu, aged 44, obtained a bachelor's degree in management, majoring in accounting, from Beifang Jiaotong University in 2001 and a master's degree in management, majoring in accounting, from Renmin University of China in 2013. Mr. Gu is a non-practicing certified public accountant and a certified tax adviser in the PRC. During the period from 2001 to 2012, Mr. Gu worked in various private companies in the PRC mainly responsible for financial management and accounting matters. He was an accountant of from July 2001 to April 2004, a market expenses supervisor of the finance department of from May 2004 to September 2005, a senior financial manager of from October 2005 to April 2012 and a manager of the financial analysis department of from May 2012 to December 2012. The shares of Shenzhen Aisidi are listed on the Shenzhen Stock Exchange with stock code 002416. In January 2013, Mr. Gu joined, the ultimate holding company of the Company indirectly holding approximately 53.14% of the issued shares of the Company, as a senior manager of its financial management centre. He then served as the head of the equity management department of CCHG from August 2016 to December 2018. During the period from January 2019 to October 2022, Mr. Gu served as the deputy general manager of, a wholly-owned subsidiary of CCHG. Mr. Gu has been a member of the executive committee and the chief accountant of China Chengtong Hong Kong Company Limited, which is currently the immediate holding company of the Company and a wholly-owned subsidiary of CCHG, since December 2021 and October 2022 respectively. Mr. Gu is a director and the financial manager of China Chengtong (Hong Kong) Asset Management Company Limited and China Chengtong Investment Company Limited. CCAM is a company licensed by the Securities and Futures Commission of Hong Kong to conduct Type 1, Type 4 and Type 9 regulated activities under the Securities and Futures Ordinance. CCAM, CCI and CSI are all wholly-owned by CCHK. In addition, Mr. Gu is a supervisor of, the shares of which are listed on the Shanghai Stock Exchange with stock code 601198. Announcement • Jun 28
China Chengtong Development Group Limited Announces Executive Changes China Chengtong Development Group Limited announced that Mr. Wang Daxiong has been appointed as a non-executive director and a member of the Audit Committee of the Company, both of which will take effect from 1 July 2022. The Board also announces that it has resolved to establish an ESG Committee with effect from 1 July 2022. Upon the establishment of the ESG Committee, Mr. Wang Daxiong will act as the chairman of the committee, and Mr. Yang Tianzhou and Professor He Jia will act as the members of the committee, all of which will take effect from 1 July 2022. Mr. Wang, aged 61, obtained a bachelor's degree in economics, majoring in shipping finance and accounting, from Shanghai Maritime University in 1983 and a master's degree in business administration for senior management from Shanghai University of Finance and Economics in 2012. He is a Senior Accountant. Mr. Wang has nearly 40 years of experience in the shipping industry. He worked in Guangzhou Shipping Bureau of the Ministry of Transport of the People's Republic of China from August 1983 to January 1996 mainly responsible for finance matters and afterwards in Guangzhou Shipping (Group) Co. Ltd. as the head of finance department and chief accountant until January 1998. From January 1998 to March 2014, Mr. Wang served various positions in China Shipping (Group)Company successively, including chief accountant, vice president and deputy general manager. During the period from August 1997 to March 2014, Mr. Wang had been an executive director of China Shipping Development Company Limited (currently known as COSCO SHIPPING Energy Transportation Co. Ltd.) (a company listed on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") and the Shanghai Stock Exchange ("SSE") with stock codes01138 and 600026 respectively). In addition, Mr. Wang acted as a non-executive director of China Merchants Bank Co. Ltd. (a company currently listed on the Main Board of the SEHK and on the SSE with stock codes 03968 and 600036 respectively) during the period from 1998 to 2014 and also subsequently from November 2016 to the present. Mr. Wang had been a non-executive director of COSCO SHIPPING Development Co. Ltd. (a company listed on the Main Board of the SEHK and on the SSE with stock codes 02866 and 601866 respectively) from 2004 to 2014 and had subsequently acted as its executive director and chairman of the board of directors since May 2016 until his resignation on 16 June 2022. He also acted as a non-executive director of China Merchants Securities Co. Ltd. (a company listed on the Main Board of the SEHK and on the SSE with stock codes 06099 and 600999 respectively) from September 2016 to May 2022. In May 2022, Mr. Wang was appointed as an independent director of (unofficial English name being Chengtong Securities Co. Ltd.), which is a non-wholly owned subsidiary of the Company's ultimate holding company, China Chengtong Holdings Group Limited. Pursuant to the proposed appointment letter to be entered into between Mr. Wang and the Company, Mr. Wang will be appointed as a NED for a term of one year commencing from 1 July 2022, subject to retirement by rotation and re-election and other related provisions as stipulated in the articles of association of the Company and the Rules Governing the Listing of Securities on the Stock Exchange. Announcement • Jun 25
China Chengtong Development Group Limited Approves Final Dividend for the Year Ended 31 December 2021 China Chengtong Development Group Limited at Annual General Meeting Held on 24 June 2022, declared and approved a final dividend of 0.54 Hong Kong cent per Share for the year ended 31 December 2021. Announcement • Mar 06
China Chengtong Development Group Limited Announces Final Dividend for the Year Ended December 31, 2021, Payable July 29, 2022 China Chengtong Development Group Limited announced final dividend of HKD 0.0054 per share for the year ended December 31, 2021. Record date is July 08, 2022. Payment date is July 29, 2022. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: HK$0.018 (down from HK$0.021 in FY 2020). Revenue: HK$1.17b (up 26% from FY 2020). Net income: HK$104.2m (down 14% from FY 2020). Profit margin: 8.9% (down from 13% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. 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 19% per year, which means it is significantly lagging earnings. Announcement • Feb 24
China Chengtong Development Group Limited to Report Fiscal Year 2021 Results on Mar 04, 2022 China Chengtong Development Group Limited announced that they will report fiscal year 2021 results on Mar 04, 2022 Executive Departure • Sep 13
Executive Director & Deputy GM Shufang Li has left the company On the 9th of September, Shufang Li's tenure as Executive Director & Deputy GM ended after 1.9 years in the role. As of June 2021, Shufang still personally held only 200.00k shares (€2.7k worth at the time). Shufang is the only executive to leave the company over the last 12 months. Reported Earnings • Aug 22
First half 2021 earnings released: EPS HK$0.009 (vs HK$0.003 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: HK$473.8m (down 10% from 1H 2020). Net income: HK$53.7m (up 260% from 1H 2020). Profit margin: 11% (up from 2.8% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS HK$0.021 (vs HK$0.008 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: HK$931.7m (down 16% from FY 2019). Net income: HK$121.4m (up 155% from FY 2019). Profit margin: 13% (up from 4.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 01
Full year 2020 earnings released: EPS HK$0.021 (vs HK$0.008 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: HK$931.7m (down 16% from FY 2019). Net income: HK$121.4m (up 155% from FY 2019). Profit margin: 13% (up from 4.3% in FY 2019). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Feb 10
China Chengtong Development Group Limited to Report Fiscal Year 2020 Results on Feb 26, 2021 China Chengtong Development Group Limited announced that they will report fiscal year 2020 results on Feb 26, 2021 Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total profits of HK$43.7m, down 63% from the prior year. Total revenue was HK$1.13b over the last 12 months, up 30% from the prior year. Announcement • Aug 14
China Chengtong Development Group Limited to Report First Half, 2020 Results on Aug 25, 2020 China Chengtong Development Group Limited announced that they will report first half, 2020 results on Aug 25, 2020 
