New Risk • Mar 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$781.1m (US$99.8m) 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 (5.7% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 21% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$781.1m market cap, or US$99.8m). Announcement • Jan 02
Grand Ming Group Holdings Limited Announces Resignation of Executive Director Ms. Tsang Ka Man, Effective January 1, 2026 Grand Ming Group Holdings Limited announced that Ms. Tsang Ka Man has tendered her resignation as an executive Director of the Company with effect from January 1, 2026, in order to devote more time to her personal commitments. New Risk • Dec 15
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 Hong Kong stocks, typically moving 10% 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 Risks Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Earnings have declined by 21% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Reported Earnings • Nov 29
First half 2026 earnings released: HK$0.018 loss per share (vs HK$0.037 profit in 1H 2025) First half 2026 results: HK$0.018 loss per share (down from HK$0.037 profit in 1H 2025). Revenue: HK$253.5m (down 63% from 1H 2025). Net loss: HK$26.1m (down 150% from profit in 1H 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 21% 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 (7.5% operating cash flow to total debt). Earnings have declined by 21% per year over the past 5 years. Buy Or Sell Opportunity • Nov 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to HK$0.90. The fair value is estimated to be HK$1.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 51% over the last 3 years. Meanwhile, the company became loss making. Announcement • Nov 17
Grand Ming Group Holdings Limited to Report First Half, 2026 Results on Nov 27, 2025 Grand Ming Group Holdings Limited announced that they will report first half, 2026 results on Nov 27, 2025 Buy Or Sell Opportunity • Nov 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to HK$0.90. The fair value is estimated to be HK$1.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 51% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 17
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 33% to HK$0.86. The fair value is estimated to be HK$1.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 51% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 01
Full year 2025 earnings released: HK$0.21 loss per share (vs HK$0.21 profit in FY 2024) Full year 2025 results: HK$0.21 loss per share (down from HK$0.21 profit in FY 2024). Revenue: HK$1.15b (up 115% from FY 2024). Net loss: HK$292.1m (down 198% from profit in FY 2024). 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. Announcement • Jul 01
Grand Ming Group Holdings Limited, Annual General Meeting, Aug 21, 2025 Grand Ming Group Holdings Limited, Annual General Meeting, Aug 21, 2025. Announcement • Jun 30
Grand Ming Group Holdings Limited Appoints Chan Pui Yin Apple as Member of the Nomination Committee, Effective 30 June 2025 The board of directors of Grand Ming Group Holdings Limited announced that, for the purpose of complying with the revised Corporate Governance Code as set out in Appendix C1 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited to be effective from 1 July 2025, Ms. Chan Pui Yin Apple ("Ms. Chan"), an executive Director, has been appointed as a member of the nomination committee of the Company (the "Nomination Committee") with effect from 30 June 2025. Following the above change, the Nomination Committee comprises four independent non-executive Directors (namely Mr. Kan Yau Wo, the chairman of the Nomination Committee, Mr. Tsui Ka Wah, Mr. Ho Chiu Yin Ivan and Mr. Lee Chung Yiu Johnny) and one executive Director (namely Ms. Chan Pui Yin Apple), and has one Director of a different gender. The Board believes that implementing this change could strengthen the effectiveness and diversity of the Board, and further enhances good corporate governance practices of the Company as a whole. Announcement • Jun 20
Grand Ming Group Holdings Limited Provides Consolidated Preliminary Earnings Guidance for the Year Ended March 31, 2025 The board of directors of Grand Ming Group Holdings Limited announced that based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended March 31, 2025 (the "Year") and information currently available to the Board, the Group is expected to record a net loss of approximately HKD 280 million to approximately HKD 310 million for the Year, as compared to a net profit of approximately HKD 298.5 million for the year ended March 31, 2024 (the "Previous Year"). The Board considers that the aforesaid net loss incurred for the Year was mainly attributable to (i) the recognition of impairment losses net of deferred tax (if applicable) of approximately HKD 210 million to approximately HKD 240 million on the Group's properties under development, completed properties held for sale and properties held for own use, in view of the current unfavourable property market in Hong Kong; and (ii) a net unrealised fair value loss on the Group's investment properties and investment properties under development of approximately HKD 110 million to approximately HKD 140 million during the Year, as compared to a net unrealised fair value gain of approximately HKD 384.2 million for the Previous Year. Announcement • Jun 18
Grand Ming Group Holdings Limited to Report Fiscal Year 2025 Results on Jun 30, 2025 Grand Ming Group Holdings Limited announced that they will report fiscal year 2025 results at 4:00 PM, China Standard Time on Jun 30, 2025 Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.95, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 13x in the Construction industry in Hong Kong. Total loss to shareholders of 73% over the past three years. Reported Earnings • Nov 29
First half 2025 earnings released: EPS: HK$0.037 (vs HK$0.078 in 1H 2024) First half 2025 results: EPS: HK$0.037 (down from HK$0.078 in 1H 2024). Revenue: HK$683.7m (up 257% from 1H 2024). Net income: HK$52.6m (down 53% from 1H 2024). Profit margin: 7.7% (down from 58% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Announcement • Nov 15
Grand Ming Group Holdings Limited to Report First Half, 2025 Results on Nov 26, 2024 Grand Ming Group Holdings Limited announced that they will report first half, 2025 results on Nov 26, 2024 Board Change • Sep 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ivan Ho 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. Announcement • Sep 13
Grand Ming Group Holdings Limited Appoints Chan Pui Yin Apple as an Executive Director, Effective 16 September 2024 The board of directors of Grand Ming Group Holdings Limited announced that Ms. Chan Pui Yin Apple will be appointed as an executive Director with effect from 16 September 2024. The biographical details of Ms. Chan are set out as follows: Ms. Chan, aged 34, graduated from The University of Hong Kong with the degree of Bachelor of Arts in Architectural Studies and Master of Architecture. She is also a member of the Hong Kong Institute of Architects and the Royal Institute of British Architects, and a registered architect with the Architects Registration Board in Hong Kong under the Architects Registration Ordinance (Chapter 408 of the Laws of Hong Kong). Prior to joining the Group, Ms. Chan worked at Wong Tung & Partners Limited from 2016 to 2022 with her last position as senior architect. Ms. Chan is responsible for overseeing the Group's property development business and assists in formulating and implementing the Group's overall corporate strategies. She is the daughter of Mr. Chan Hung Ming who is the chairman of the Board, an executive Director and a controlling shareholder of the Company. Announcement • Jun 26
Grand Ming Group Holdings Limited, Annual General Meeting, Aug 22, 2024 Grand Ming Group Holdings Limited, Annual General Meeting, Aug 22, 2024. Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: HK$0.21 (vs HK$0.90 in FY 2023) Full year 2024 results: EPS: HK$0.21 (down from HK$0.90 in FY 2023). Revenue: HK$532.7m (down 89% from FY 2023). Net income: HK$298.5m (down 77% from FY 2023). Profit margin: 56% (up from 26% in FY 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. New Risk • Jun 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. 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). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Announcement • Jun 15
Grand Ming Group Holdings Limited to Report Fiscal Year 2024 Results on Jun 25, 2024 Grand Ming Group Holdings Limited announced that they will report fiscal year 2024 results on Jun 25, 2024 Buy Or Sell Opportunity • Jun 11
Now 20% overvalued Over the last 90 days, the stock has fallen 21% to HK$3.00. The fair value is estimated to be HK$2.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 16
Now 20% overvalued Over the last 90 days, the stock has fallen 21% to HK$2.99. The fair value is estimated to be HK$2.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Dec 01
First half 2024 earnings released: EPS: HK$0.078 (vs HK$0.99 in 1H 2023) First half 2024 results: EPS: HK$0.078 (down from HK$0.99 in 1H 2023). Revenue: HK$191.7m (down 96% from 1H 2023). Net income: HK$111.1m (down 92% from 1H 2023). Profit margin: 58% (up from 29% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 20
Upcoming dividend of HK$0.04 per share at 6.5% yield Eligible shareholders must have bought the stock before 27 November 2023. Payment date: 20 December 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.5%. Lower than top quartile of Hong Kong dividend payers (8.2%). In line with average of industry peers (6.0%). New Risk • Nov 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Paying a dividend despite being loss-making. Announcement • Nov 09
Grand Ming Group Holdings Limited Announces Interim Dividend for the Six Months Ended September 30, 2023, Payable on December 20, 2023 Grand Ming Group Holdings Limited announced interim dividend of HKD 0.04 per share for the six months ended September 30, 2023. Ex-dividend date is November 27, 2023. Record date is December 1, 2023. Payment date is December 20, 2023. Announcement • Oct 29
Grand Ming Group Holdings Limited Provides Consolidated Earnings Guidance for the Six Months Ended September 30, 2023 Grand Ming Group Holdings Limited provided consolidated earnings guidance for the six months ended September 30, 2023. For the period, the group is expected to record a decline in each of the revenue and net profit for the Period by not less than 90% as compared to the revenue of approximately HKD 4,920 million and net profit of approximately HKD 1,410 million for the six months ended 30 September 2022. The significant drop in revenue for the Period was primarily due to a substantial decrease in the number of properties sold from its property development project, whilst the decline in net profit for the Period was mainly attributable to (i) a substantial reduction of revenue and profit recognised in the property development segment stemming from the aforementioned decrease in the number of properties sold; and (ii) an increase in finance cost due to the increase in interest rates; but was partially offset by a gain on revaluation of investment properties under development during the Period. Announcement • Oct 28
Grand Ming Group Holdings Limited to Report First Half, 2024 Results on Nov 08, 2023 Grand Ming Group Holdings Limited announced that they will report first half, 2024 results on Nov 08, 2023 Buying Opportunity • Aug 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be HK$5.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 62% over the last 3 years. Earnings per share has grown by 107%. Upcoming Dividend • Aug 03
Upcoming dividend of HK$0.20 per share at 5.2% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 18 September 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (4.9%). Announcement • Jul 06
Grand Ming Group Holdings Limited Recommends Payment of Special Dividend for the Fiscal Year 2022/23 Grand Ming Group Holdings Limited announced that the Board recommends a special dividend of 15.0 HK cents per Share. Together with the interim dividend of 6.0 HK cents per Share and special interim dividend of 20.0 HK cents per Share already paid, the total dividends for the Fiscal Year 2022/23 will amount to 46.0 HK cents per Share. Announcement • Jun 20
Grand Ming Group Holdings Limited, Annual General Meeting, Aug 04, 2023 Grand Ming Group Holdings Limited, Annual General Meeting, Aug 04, 2023. Agenda: To consider the final dividend and special dividend. Reported Earnings • Jun 20
Full year 2023 earnings released: EPS: HK$0.90 (vs HK$0.012 in FY 2022) Full year 2023 results: EPS: HK$0.90 (up from HK$0.012 in FY 2022). Revenue: HK$5.00b (up HK$4.19b from FY 2022). Net income: HK$1.28b (up HK$1.26b from FY 2022). Profit margin: 26% (up from 2.1% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
Grand Ming Group Holdings Limited to Report Fiscal Year 2023 Results on Jun 19, 2023 Grand Ming Group Holdings Limited announced that they will report fiscal year 2023 results on Jun 19, 2023 Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 15% share price gain to HK$6.23, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 9x in the Construction industry in Hong Kong. Total returns to shareholders of 215% over the past three years. Board Change • Jan 10
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Ka Wah Tsui was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 24% share price gain to HK$5.20, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 9x in the Construction industry in Hong Kong. Total returns to shareholders of 165% over the past three years. Announcement • Dec 16
Grand Ming Group Holdings Limited Announces Board Changes The board of directors of Grand Ming Group Holdings Limited announced the following changes in directorate and composition of the Board committees: Ms. Tsang Ka Man ("Ms. Tsang") has been appointed as an executive Director with effect from 15 December 2022. Ms. Tsang, aged 32, joined the Group in April 2016 and is currently the senior project manager responsible for developing the Group's property development business in Hong Kong. Prior to joining the Group, she served as an engineer in a Japan-based civil engineering and construction company from June 2014 to April 2016 and a project coordinator in a local construction company from February 2012 to December 2013, where she was primarily responsible for the coordination and management of assigned projects, including progress monitoring and liaison with sub- contractors and other professionals. Ms. Tsang holds a Master of Science in Construction and Real Estate from the Hong Kong Polytechnic University and a Bachelor of Science with Second Class Honours in Construction Management from the University of Wolverhampton, United Kingdom. Mr. Mok Kwai Pui Bill ("Mr. Mok") has tendered his resignation as an independent non-executive Director, the chairperson of the audit committee of the Company (the "Audit Committee"), a member of each of the nomination committee of the Company (the "Nomination Committee") and the Remuneration Committee with effect from 1 January 2023 due to his other business commitments which require more of his attention and dedication. Mr. Ho Chiu Yin Ivan ("Mr. Ho") will be appointed as an independent non-executive Director, the chairperson of the Audit Committee and a member of each of the Nomination Committee and the Remuneration Committee with effect from 1 January 2023. Mr. Ho, aged 62, has over 30 years of experience in providing statutory audit, group reporting, due diligence review and regulatory advisory services for various clients with shares listed in Hong Kong and businesses in manufacturing, retail, and property development in Hong Kong and the Mainland China. He worked for Price Waterhouse (now PricewaterhouseCoopers Hong Kong) from 1985 to 1989. He then worked for Hamiltons in Sydney, Australia, a firm specialised in insolvency practice, from 1989 to 1992 with his last position as manager. From 1993 to 1995, Mr. Ho rejoined PricewaterhouseCoopers Hong Kong and worked as an audit manager. He then joined PricewaterhouseCoopers Zhong Tian LLP, Guangzhou Branch and acted as a manager and then senior manager from 1995 to 2002, and was admitted as partner from 2002 to 2021. Mr. Ho retired from partnership of the firm in June 2021. Mr. Ho obtained a Bachelor of Commerce from the University of New South Wales in 1984. He is a member of the Hong Kong Institute of Certified Public Accountants (formerly Hong Kong Society of Accountants) since 1993, a member of the Chartered Accountants Australia and New Zealand (previously the Institute of Chartered Accountant Australia) since 1991. Upcoming Dividend • Nov 21
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 28 November 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 7.8%. Lower than top quartile of Hong Kong dividend payers (9.0%). Higher than average of industry peers (6.1%). Board Change • Nov 16
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. 3 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Bill Mok was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 13
First half 2023 earnings released: EPS: HK$0.99 (vs HK$0.049 in 1H 2022) First half 2023 results: EPS: HK$0.99 (up from HK$0.049 in 1H 2022). Revenue: HK$4.92b (up HK$4.33b from 1H 2022). Net income: HK$1.41b (up HK$1.34b from 1H 2022). Profit margin: 29% (up from 12% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Nov 12
Grand Ming Group Holdings Limited Declares Interim Dividend for the Six Months Ended 30 September 2022 Payable on 15 December 2022 Grand Ming Group Holdings Limited declared interim dividend of HKD 0.06 per share for the six months ended 30 September 2022 payable on 15 December 2022. Record date is 02 December 2022. Ex-dividend date is 28 November 2022. Announcement • Nov 08
Grand Ming Group Holdings Limited Provides Preliminary Unaudited Consolidated Group Earnings Guidance for the Six Months Ended 30 September 2022 Grand Ming Group Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 September 2022. For the period, the group expects to record consolidated revenue and net profit of approximately HKD 4.92 billion and HKD 1.41 billion, respectively, representing an increase by approximately 7.4 times and 19.3 times, respectively, when compared to the corresponding period of 2021. The significant increase in the Group's consolidated revenue and net profit for the Period was primarily attributable to, among other things, the handover of the pre-sold units of The Grand Marine (the Group's residential project at 18 Sai Shan Road, Tsing Yi, the New Territories) to buyers during the Period, resulting in recognition of the corresponding revenue and profits. Announcement • Nov 02
Grand Ming Group Holdings Limited to Report Q2, 2023 Results on Nov 11, 2022 Grand Ming Group Holdings Limited announced that they will report Q2, 2023 results on Nov 11, 2022 Announcement • Aug 08
Grand Ming Group Holdings Limited Announces Retirement of Mr. Yuen Ying Wai as Executive Director The board of directors of Grand Ming Group Holdings Limited announced that with effect from 7 August 2022, Mr. Yuen Ying Wai (Mr. Yuen) retired as an Executive Director of the company after over 20 years of service with the Group. Upon his retirement, Mr. Yuen also ceased to hold any position in the Group. Announcement • Aug 06
Grand Ming Group Holdings Limited Declare Final Dividend for the Year Ended 31 March 2022 Grand Ming Group Holdings Limited Approved in Poll Results of the Annual General Meeting held on 5 August 2022 declared a final dividend of 4.0 Hong Kong cents per ordinary share of the Company each for the year ended 31 March 2022. Upcoming Dividend • Aug 04
Upcoming dividend of HK$0.04 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 02 September 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.7%. Lower than top quartile of Hong Kong dividend payers (8.4%). Lower than average of industry peers (5.8%). Reported Earnings • Jun 26
Full year 2022 earnings released: EPS: HK$0.012 (vs HK$0.10 in FY 2021) Full year 2022 results: EPS: HK$0.012 (down from HK$0.10 in FY 2021). Revenue: HK$817.9m (down 45% from FY 2021). Net income: HK$17.5m (down 88% from FY 2021). Profit margin: 2.1% (down from 10.0% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Announcement • Jun 14
Grand Ming Group Holdings Limited to Report Fiscal Year 2022 Results on Jun 23, 2022 Grand Ming Group Holdings Limited announced that they will report fiscal year 2022 results on Jun 23, 2022 Announcement • Jun 04
Grand Ming Group Holdings Limited Provides Unaudited Consolidated Earnings Guidance for the Year Ended 31 March 2022 The board of directors (the "Board") of Grand Ming Group Holdings Limited announced that based on the preliminary review of the draft unaudited consolidated management accounts of the Group for the year ended 31 March 2022 (the "Year") and other information currently available to the Board, the Group is expected to record a drop in net profit for the Year by approximately 85% to 95% as compared to that for the year ended 31 March 2021 (the "Previous Year"). Upcoming Dividend • Jun 03
Upcoming dividend of HK$0.20 per share Eligible shareholders must have bought the stock before 10 June 2022. Payment date: 28 June 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (4.9%). Announcement • May 27
Grand Ming Group Holdings Limited Declares Special Interim Dividend, Payable on June 28, 2022 Grand Ming Group Holdings Limited The Board announced that at the meeting of the Board held on 26 May 2022, having considered the business, financial and cash flow position of the Group, the Board has resolved to declare a special interim dividend of HKD 0.2 per ordinary share of the Company, amounting to approximately HKD 283.9 million in total, to the shareholders of the Company whose names appear on the register of members of the Company on 15 June 2022. It is expected that the Special Interim Dividend will be payable in cash on Tuesday, 28 June 2022. Board Change • Apr 27
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. 4 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Bill Mok was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Nov 22
Upcoming dividend of HK$0.04 per share Eligible shareholders must have bought the stock before 29 November 2021. Payment date: 16 December 2021. Trailing yield: 3.5%. Lower than top quartile of Hong Kong dividend payers (7.0%). Lower than average of industry peers (4.2%). Reported Earnings • Nov 15
First half 2022 earnings released: EPS HK$0.049 (vs HK$0.049 in 1H 2021) The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2022 results: Revenue: HK$586.1m (down 25% from 1H 2021). Net income: HK$69.2m (down 1.4% from 1H 2021). Profit margin: 12% (up from 8.9% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 09
Upcoming dividend of HK$0.04 per share Eligible shareholders must have bought the stock before 16 August 2021. Payment date: 03 September 2021. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (6.5%). Lower than average of industry peers (4.5%). Reported Earnings • Jun 20
Full year 2021 earnings released: EPS HK$0.10 (vs HK$0.024 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: HK$1.49b (up 65% from FY 2020). Net income: HK$149.0m (up 341% from FY 2020). Profit margin: 10.0% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Upcoming Dividend • May 22
Upcoming dividend of HK$0.20 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 16 June 2021. Trailing yield: 0.5%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (4.7%). Announcement • May 21
Grand Ming Group Holdings Limited Provides Earnings Guidance for the Year Ended March 31, 2021 Grand Ming Group Holdings Limited provided earnings guidance for the year ended March 31, 2021. For the year, the group expected to record significant increase in the consolidated net profit for the Year by not less than 300% as compared to the consolidated net profit of approximately HKD 33.8 million for the year ended March 31, 2020. Announcement • May 15
Grand Ming Group Holdings Limited Declares Special Interim Dividend, Payable on June 16, 2021 Grand Ming Group Holdings Limited at its board meeting held on May 14, 2021, having considered the business, financial and cash flow position of the group, the Board has resolved to declare a special interim dividend of HKD 0.2 per ordinary share of the company, amounting to approximately HKD 283.9 million in total, to the shareholders of the company whose names appear on the register of members of the company on June 2, 2021. It is expected that the special interim dividend will be payable in cash on June 16, 2021. Is New 90 Day High Low • Feb 03
New 90-day high: HK$4.99 The company is up 5.0% from its price of HK$4.74 on 05 November 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 4.0% over the same period. Reported Earnings • Dec 04
First half 2021 earnings released: EPS HK$0.049 The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: HK$786.1m (up 114% from 1H 2020). Net income: HK$70.2m (up 60% from 1H 2020). Profit margin: 8.9% (down from 12% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Reported Earnings • Nov 19
First half 2021 earnings released: EPS HK$0.049 The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: HK$786.1m (up 114% from 1H 2020). Net income: HK$70.2m (up 60% from 1H 2020). Profit margin: 8.9% (down from 12% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 17
New 90-day low: HK$4.42 The company is down 8.0% from its price of HK$4.79 on 19 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 1.0% over the same period. Announcement • Nov 04
Grand Ming Group Holdings Limited to Report First Half, 2021 Results on Nov 13, 2020 Grand Ming Group Holdings Limited announced that they will report first half, 2021 results on Nov 13, 2020 
