New Risk • Jun 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.25m (US$9.37m) This is considered a major 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 Share price has been highly volatile over the past 3 months (52% average daily change). Earnings have declined by 44% per year over the past 5 years. Market cap is less than US$10m (€8.25m market cap, or US$9.37m). Buy Or Sell Opportunity • Jun 17
Now 73% undervalued The stock has been flat over the last 90 days, currently trading at €0.001. The fair value is estimated to be €0.0037, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 33% over the last 3 years. Earnings per share has grown by 5.0%. Announcement • Jun 05
Redsun Properties Group Limited Announces Resignation of Chen Bin from Executive Director, Executive President, and Remuneration Committee Member, Effective June 3, 2026 Redsun Properties Group Limited announced that Mr. Chen Bin resigned as an executive Director, the executive president of the Company and a member of the remuneration committee of the Board with effect from June 3, 2026 in order to devote more time and dedication to his personal commitments. Mr. Chen will no longer hold any position in the Group after his resignation. The resignation of Mr. Chen will not result in the number of members of the Board falling below the minimum quorum, nor will it affect the normal operation of the Board. Announcement • Mar 26
Redsun Properties Group Limited, Annual General Meeting, Jun 26, 2026 Redsun Properties Group Limited, Annual General Meeting, Jun 26, 2026, at 10:00 China Standard Time. Announcement • Mar 16
Redsun Properties Group Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 Redsun Properties Group Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 Announcement • Aug 18
Redsun Properties Group Limited to Report First Half, 2025 Results on Aug 28, 2025 Redsun Properties Group Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Mar 27
Redsun Properties Group Limited, Annual General Meeting, Jun 26, 2025 Redsun Properties Group Limited, Annual General Meeting, Jun 26, 2025. Announcement • Mar 17
Redsun Properties Group Limited to Report Fiscal Year 2024 Results on Mar 27, 2025 Redsun Properties Group Limited announced that they will report fiscal year 2024 results on Mar 27, 2025 Reported Earnings • Sep 29
First half 2024 earnings released: CN¥0.53 loss per share (vs CN¥0.80 loss in 1H 2023) First half 2024 results: CN¥0.53 loss per share (improved from CN¥0.80 loss in 1H 2023). Revenue: CN¥6.01b (down 1.5% from 1H 2023). Net loss: CN¥1.78b (loss narrowed 33% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Announcement • Aug 22
Redsun Properties Group Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 June 2024 Redsun Properties Group Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2024. For the period, the Group is expected to record net loss during the Period in the range of approximately RMB 1,500 million to RMB 2,000 million (the corresponding period in 2023: net loss of RMB 2,844 million). The net loss for the Period decreased as compared with the corresponding period in last year, which was mainly attributable to the facts that (1) provisions for the impairment losses of properties under development and completed properties held for sale of the Group decreased, resulting in an increase in gross profit and gross profit margin during the Period as compared with the corresponding period in last year; and (2) a slowdown in the decline of exchange rate of Renminbi against US Dollar, resulting in a decrease of exchange loss during the Period as compared with the corresponding period in last year. Announcement • Aug 20
Redsun Properties Group Limited to Report First Half, 2024 Results on Aug 29, 2024 Redsun Properties Group Limited announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • May 30
Redsun Properties Group Limited Announces Joint Company Secretary Changes The board of directors of Redsun Properties Group Limited announced that (i) Mr. Li Yonggang (Mr. Li) has tendered his resignation as a joint company secretary of the Company with effect from 29 May 2024 and will no longer hold any position in the Group after his resignation; and (ii) the Board has resolved to appoint Mr. Jia Hongbo (Mr. Jia) as the Joint Company Secretary with effect from 29 May 2024. Biography details of Mr. Jia are set out as below: Mr. Jia joined Hong Yang Group Company Limited, the controlling shareholder of the Company (Hong Yang Group), since September 2013 as the business assistant to the chairman of Hong Yang Group, and he has also held various positions of project manager, strategic investment director and operation director of Hong Yang Group. From 2016 to present, Mr. Jia is a senior member of the listing office of Hong Yang Group and has internally assisted the joint company secretary in handling the initial public offering of Redsun Services Group Limited (Stock Exchange stock code: 1971) and the Company, as well as the listing compliance matters, company secretarial matters and disclosure of information after their listing. He has over 18 years of experience in engineering management and over 8 years of experience in corporate governance and company secretarial field. Mr. Jia is a senior engineer and registered first-class structure engineer. He obtained a master's degree of engineering from Harbin Institute of Technology in the PRC in July 2006. Prior to joining the Company, Mr. Jia served as the Director of Structure Department of Jiangsu Huake Construction Engineering Quality Testing Co., LTD. from February 2008 to September 2013, and was the Engineer of Structure Department of Jiangsu Testing Center For Quality Of Construction Engineering Co., LTD. from August 2006 to February 2008. Ms. Yung Mei Yee (Ms. Yung), the other Joint Company Secretary, will assist Mr. Jia in discharging his duties as the Joint Company Secretary. Ms. Yung is a vice president of SWCS Corporate Services Group (Hong Kong) Limited. She has over 20 years of experience in handling company secretarial, corporate governance and compliance affairs of listed companies. Ms. Yung has held various senior company secretarial positions in and acted as the company secretary or joint company secretary of a number of companies listed on the Stock Exchange. She is currently the joint company secretary of a few listed companies on the Stock Exchange. She is a fellow of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. She obtained a bachelor's degree of arts in accountancy and a master's degree of arts in language and law from the City University of Hong Kong, and a bachelor's degree of laws from the University of London. Ms. Yung meets the requirements of a company secretary under Rules 3.28 and 8.17 of the Rules Governing the Listing of Securities on the Stock Exchange (the Listing Rules). Mr. Jia currently does not possess the specified qualifications of a company secretary as required under Rule 3.28 of the Listing Rules. The Company has applied for, and the Stock Exchange has granted, a waiver from strict compliance with the requirements under Rules 3.28 and 8.17 of the Listing Rules (the Waiver) for a period of three years from the date of Mr. Jia's appointment as a Joint Company Secretary (the Waiver Period) on the conditions that: (i) Mr. Jia must be assisted by Ms. Yung during the Waiver Period; and (ii) the Waiver could be revoked if there are material breaches of the Listing Rules by the Company. Before the end of the Waiver Period, the Company shall demonstrate and seek the confirmation of the Stock Exchange that Mr. Jia, having had the benefit of Ms. Yung's assistance during the Waiver Period, has attained the relevant experience and is capable of discharging the functions of company secretary under Rule 3.28 of the Listing Rules such that a further waiver will not be necessary. The Stock Exchange may withdraw or change the Waiver if the Company's situation changes. Reported Earnings • Apr 29
Full year 2023 earnings released: CN¥2.16 loss per share (vs CN¥1.16 loss in FY 2022) Full year 2023 results: CN¥2.16 loss per share (further deteriorated from CN¥1.16 loss in FY 2022). Revenue: CN¥19.8b (down 1.1% from FY 2022). Net loss: CN¥7.21b (loss widened 86% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 33 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 29
Full year 2023 earnings released: CN¥2.16 loss per share (vs CN¥1.16 loss in FY 2022) Full year 2023 results: CN¥2.16 loss per share (further deteriorated from CN¥1.16 loss in FY 2022). Revenue: CN¥19.8b (down 1.1% from FY 2022). Net loss: CN¥7.21b (loss widened 86% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Announcement • Mar 29
Redsun Properties Group Limited, Annual General Meeting, Jun 28, 2024 Redsun Properties Group Limited, Annual General Meeting, Jun 28, 2024. Announcement • Mar 19
Redsun Properties Group Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 Redsun Properties Group Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 Board Change • Mar 01
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. 6 experienced directors. No highly experienced directors. VP & Executive Director Junkai Zeng was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 01
First half 2023 earnings released: CN¥0.80 loss per share (vs CN¥0.21 loss in 1H 2022) First half 2023 results: CN¥0.80 loss per share (further deteriorated from CN¥0.21 loss in 1H 2022). Revenue: CN¥6.10b (down 52% from 1H 2022). Net loss: CN¥2.66b (loss widened 284% from 1H 2022). Reported Earnings • Sep 01
First half 2023 earnings released: CN¥0.80 loss per share (vs CN¥0.21 loss in 1H 2022) First half 2023 results: CN¥0.80 loss per share (further deteriorated from CN¥0.21 loss in 1H 2022). Revenue: CN¥6.10b (down 52% from 1H 2022). Net loss: CN¥2.66b (loss widened 284% from 1H 2022). Announcement • Aug 31
Redsun Properties Group Limited Announces Management Changes The board of directors of Redsun Properties Group Limited announced that Ms. Yim Lai Kiu (Ms. Yim) has tendered her resignation as a joint company secretary of the Company (the Joint Company Secretary) and has ceased to act as an authorized representative of the Company (the Authorised Representative) under Rule 3.05 of the Rules (the Listing Rules) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the Stock Exchange) and the process agent for accepting service of process and notices on behalf of the Company in Hong Kong under Rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the Process Agent) with effect from 31 August 2023. Ms. Yim confirmed that she has no disagreement with the Board and there is no matter relating to her resignation which need to be brought to the attention of the Stock Exchange and the shareholders of the Company. The Board further announced that Ms. Yung Mei Yee (Ms. Yung) has been appointed as the Joint Company Secretary, Authorised Representative and Process Agent with effect from 31 August 2023. After the aforesaid changes, Mr. Li Yonggang will continue to serve as the other Joint Company Secretary. Ms. Yung Mei Yee is a vice president of SWCS Corporate Services Group (Hong Kong) Limited. Ms. Yung has over 20 years of experience in handling company secretarial, corporate governance and compliance affairs of listed companies. Ms. Yung has held various senior company secretarial positions in and acted as the company secretary or joint company secretary of a number of companies listed on the Stock Exchange. She is currently the joint company secretary of a few listed companies on the Stock Exchange. She is a fellow of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. She obtained a bachelor's degree of arts in accountancy and a master's degree of arts in language and law from the City University of Hong Kong, and a bachelor's degree of laws from the University of London. Announcement • Aug 19
Redsun Properties Group Limited to Report First Half, 2023 Results on Aug 30, 2023 Redsun Properties Group Limited announced that they will report first half, 2023 results on Aug 30, 2023 New Risk • Aug 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.4m (US$99.4m) 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 Interest payments are not well covered by earnings (0.2x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 34% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€91.4m market cap, or US$99.4m). Reported Earnings • Mar 31
Full year 2022 earnings released: CN¥1.16 loss per share (vs CN¥0.37 profit in FY 2021) Full year 2022 results: CN¥1.16 loss per share (down from CN¥0.37 profit in FY 2021). Revenue: CN¥20.0b (down 25% from FY 2021). Net loss: CN¥3.88b (down 412% from profit in FY 2021). Announcement • Sep 17
Redsun Properties Group Limited Announces Change of Chief Financial Officer The board of directors of Redsun Property Group Limited announced that Mr. Shen Guangping has resigned as the chief financial officer of the Company with effect from 16 September 2022 due to his personal development. Mr. Shen has confirmed that he has no disagreement with the Company and the Board and there are no matters that need to be brought to the attention of the holders of securities of the Company. The Board announced that, the company has appointed Mr. Lui Wai Pang, currently an executive Director and a vice president, to concurrently serve as the Chief Financial Officer with effect from 16 September 2022. Mr. Lui Wai Pang, aged 49, has been an executive director and vice president of the Company since 5 July 2019. Prior to joining the Group, Mr. Lui was the chief financial officer, the joint company secretary and the authorised representative of Times China Holdings Limited (stock code: 1233), since March 2015 and was re-designated as the chief financial officer, the company secretary and the authorised representative from August 2018 to June 2019. From September 2006 to March 2015, Mr. Lui worked with Agile Group Holdings Limited (stock code: 3383), with his last position as a financial controller. Mr. Lui also worked in several listed companies in Hong Kong, during which he participated in initial public offering projects and was responsible for matters relating to corporate finance and financial reporting. Mr. Lui has over 20 years of working experience in accounting, corporate finance and investor relations. Mr. Lui is a fellow member of the Association of Chartered Certified Accountants and a member of the Hong Kong Institute of Certified Public Accountants. He holds a bachelor degree of Business Administration in Accounting from the Hong Kong University of Science and Technology. Reported Earnings • Sep 05
First half 2022 earnings released: CN¥0.21 loss per share (vs CN¥0.22 profit in 1H 2021) First half 2022 results: CN¥0.21 loss per share (down from CN¥0.22 profit in 1H 2021). Revenue: CN¥12.6b (down 2.7% from 1H 2021). Net loss: CN¥691.0m (down 194% from profit in 1H 2021). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% decline forecast for the Real Estate industry in Germany. Announcement • Sep 02
Redsun Properties Group Limited Announces Company Secretary Changes The board of directors of Redsun Properties Group Limited announced that Mr. Yim Lok Kwan has tendered his resignation as (i) one of the joint company secretary of the Company. Mr. Yim has confirmed that he has no disagreement with the Board and there is not any other matter in connection with his resignation that needs to be brought to the attention of the Stock Exchange and the shareholders of the Company. The Board further announces that Ms. Yim Lai Kiu (``Ms. Yim'') has been appointed as one of the Joint Company Secretary, the Authorised Representative and the Process Agent with effect from 1 September 2022. Ms. Yim currently serves as a corporate secretarial executive of SWCS Corporate Services Group (Hong Kong) Limited and has over three years of experience in listed corporate secretarial field. Ms. Yim obtained a bachelor's degree in management fromSun Yat-Sen University, China, a master's degree in professional accounting and corporate governance from the City University of Hong Kong; and she is an associate member of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute. Announcement • Aug 19
Redsun Properties Group Limited to Report First Half, 2022 Results on Aug 30, 2022 Redsun Properties Group Limited announced that they will report first half, 2022 results on Aug 30, 2022 Announcement • Aug 13
Redsun Properties Group Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2022 Redsun Properties Group Limited provided consolidated earnings guidance for the six months ended 30 June 2022. For the period, the Group is expected to record net loss during the Period in the range of approximately RMB 350 million to RMB 450 million (the corresponding period in 2021: net profit of RMB 990 million). The net loss of the Period was mainly attributable to the facts that (1) the overall market size of the real estate industry declined and the gross profit of the projects which theCompany closed for settlement during the Period was relatively low; (2) as the COVID-19 pandemic continues, the selling prices of the development projects of the Group fell short of expectation. Both the occupancy rate and rental income of investment properties have decreased. During the Period, the fair value assessment of non-recurring profit or loss is estimated to be impaired. The impairment loss of assets arising from the provision for decline in value of inventories based on the principle of prudence is expected to increase; and (3) there has incurred significant exchange loss in respect of the USD-denominated debts of the Group due to the depreciation of RMB against USD. Reported Earnings • Apr 28
Full year 2021 earnings released: EPS: CN¥0.37 (vs CN¥0.50 in FY 2020) Full year 2021 results: EPS: CN¥0.37 (down from CN¥0.50 in FY 2020). Revenue: CN¥26.7b (up 32% from FY 2020). Net income: CN¥1.25b (down 25% from FY 2020). Profit margin: 4.7% (down from 8.2% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 17% compared to a 33% decline forecast for the industry in Germany. Board Change • Apr 27
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 Po Fung Au Yeung was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 27
Redsun Properties Group Limited Does Not Recommend Payment of Any Dividend in Respect of the Year Ended 31 December 2021 The Board of Redsun Properties Group Limited did not recommend payment of any dividend in respect of the year ended 31 December 2021 (2020: HK14.5 cents per ordinary share). Announcement • Apr 01
Redsun Properties Group Limited, Annual General Meeting, Jun 28, 2022 Redsun Properties Group Limited, Annual General Meeting, Jun 28, 2022. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: CN¥0.37 (vs CN¥0.50 in FY 2020) Full year 2021 results: EPS: CN¥0.37 (down from CN¥0.50 in FY 2020). Revenue: CN¥26.7b (up 32% from FY 2020). Net income: CN¥1.25b (down 25% from FY 2020). Profit margin: 4.7% (down from 8.2% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 16% compared to a 31% decline forecast for the industry in Germany. Reported Earnings • Oct 01
First half 2021 earnings released: EPS CN¥0.22 (vs CN¥0.20 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: CN¥13.0b (up 35% from 1H 2020). Net income: CN¥739.3m (up 9.1% from 1H 2020). Profit margin: 5.7% (down from 7.0% in 1H 2020). Reported Earnings • Aug 28
First half 2021 earnings released: EPS CN¥0.22 (vs CN¥0.20 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: CN¥13.0b (up 35% from 1H 2020). Net income: CN¥739.3m (up 9.1% from 1H 2020). Profit margin: 5.7% (down from 7.0% in 1H 2020). Reported Earnings • Apr 28
Full year 2020 earnings released: EPS CN¥0.50 (vs CN¥0.44 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥20.2b (up 33% from FY 2019). Net income: CN¥1.66b (up 13% from FY 2019). Profit margin: 8.2% (down from 9.7% in FY 2019). Announcement • Apr 27
Redsun Properties Group Limited Proposes Annual Dividend for the Year Ended December 31, 2020, Payable on or About July 28, 2021 Redsun Properties Group Limited recommended the payment of the 2020 Annual Dividend of 14.5 cents per Share for the year ended December 31, 2020 to the shareholders subject to the approval of the Shareholders at the Annual General Meeting to be held on June 25, 2021. The proposed 2020 Annual Dividend is expected to be paid in cash to the Shareholders on or about July 28, 2021. For the purpose of ascertaining the Shareholders' entitlement to the proposed 2020 Annual Dividend, the register of members of the company will be closed from July 7, 2021 to July 9, 2021, both days inclusive. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.50 (vs CN¥0.44 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥20.2b (up 33% from FY 2019). Net income: CN¥1.66b (up 13% from FY 2019). Profit margin: 8.2% (down from 9.7% in FY 2019). The decrease in margin was driven by higher expenses. Announcement • Mar 18
Redsun Properties Group Limited to Report Fiscal Year 2020 Results on Mar 29, 2021 Redsun Properties Group Limited announced that they will report fiscal year 2020 results on Mar 29, 2021 Announcement • Feb 27
Redsun Properties Group Limited Announces Change of Directors and Members of Committees The board of directors of Redsun Properties Group Limited announced that Mr. Jiang Daqiang has tendered his resignation as a non-executive Director and a member of the audit committee of the Board with effect from 26 February 2021 due to his personal career development. Mr. Jiang Daqiang will no longer hold any position in the Group after his resignation. The Board of Directors announced that Mr. Zeng Junkai has been appointed as an executive Director, a member of the remuneration committee of the Board and a vice president of the Company with effect from 26 February 2021. Mr. Zeng, aged 27, has been the general manager of the Nanjing regional companies of the Group since January 2021. He served as the general manager of the Chengdu regional companies of the Group from October 2018 to January 2021 and the assistant president of Hong Yang Group Company, the controlling shareholder of the Company, from May 2016 to October 2018. 
