Reported Earnings • Mar 28
Full year 2025 earnings released: HK$0.38 loss per share (vs HK$0.98 loss in FY 2024) Full year 2025 results: HK$0.38 loss per share (improved from HK$0.98 loss in FY 2024). Revenue: HK$7.09b (down 24% from FY 2024). Net loss: HK$147.0m (loss narrowed 60% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Announcement • Mar 27
SOCAM Development Limited, Annual General Meeting, May 28, 2026 SOCAM Development Limited, Annual General Meeting, May 28, 2026. Announcement • Mar 13
SOCAM Development Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 SOCAM Development Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 Reported Earnings • Sep 27
First half 2025 earnings released: HK$0.22 loss per share (vs HK$0.24 loss in 1H 2024) First half 2025 results: HK$0.22 loss per share (improved from HK$0.24 loss in 1H 2024). Revenue: HK$3.82b (down 7.0% from 1H 2024). Net loss: HK$83.0m (loss narrowed 5.7% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Announcement • Sep 09
Liu Ying entered into agreement to acquire Shui On Properties Management Limited from SOCAM Development Limited (SEHK:983) for HKD 100 million. Liu Ying entered into agreement to acquire Shui On Properties Management Limited from SOCAM Development Limited (SEHK:983) for HKD 100 million on September 8, 2025. A cash consideration of HKD 90 million will be paid by the buyer. The buyer will pay an earnout/contingent payment of HKD 10 million cash. As part of consideration, HKD 100 million is paid towards common equity of Shui On Properties Management Limited.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is December 31, 2025. Reported Earnings • Aug 29
First half 2025 earnings released: HK$0.22 loss per share (vs HK$0.24 loss in 1H 2024) First half 2025 results: HK$0.22 loss per share (improved from HK$0.24 loss in 1H 2024). Revenue: HK$3.82b (down 7.0% from 1H 2024). Net loss: HK$83.0m (loss narrowed 5.7% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year whereas the company’s share price has fallen by 32% per year. Announcement • Aug 15
SOCAM Development Limited to Report First Half, 2025 Results on Aug 27, 2025 SOCAM Development Limited announced that they will report first half, 2025 results on Aug 27, 2025 Reported Earnings • May 01
Full year 2024 earnings released: HK$0.98 loss per share (vs HK$0.42 loss in FY 2023) Full year 2024 results: HK$0.98 loss per share (further deteriorated from HK$0.42 loss in FY 2023). Revenue: HK$9.31b (up 11% from FY 2023). Net loss: HK$364.0m (loss widened 135% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 30
Full year 2024 earnings released: HK$0.98 loss per share (vs HK$0.42 loss in FY 2023) Full year 2024 results: HK$0.98 loss per share (further deteriorated from HK$0.42 loss in FY 2023). Revenue: HK$9.31b (up 11% from FY 2023). Net loss: HK$364.0m (loss widened 135% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Announcement • Mar 27
SOCAM Development Limited, Annual General Meeting, May 29, 2025 SOCAM Development Limited, Annual General Meeting, May 29, 2025, at 16:00 China Standard Time. Announcement • Mar 13
SOCAM Development Limited to Report Fiscal Year 2024 Results on Mar 27, 2025 SOCAM Development Limited announced that they will report fiscal year 2024 results on Mar 27, 2025 Announcement • Dec 30
Socam Development Limited Appoints Lo Adrian Jonathan Chun Sing as Executive Director and Deputy Chief Executive Officer, Member of the Finance Committee and the Investment Committee, Effective 1 January 2025 SOCAM Development Limited announce that Mr. Lo Adrian Jonathan Chun Sing ("Mr. Lo") has been appointed as Executive Director and Deputy Chief Executive Officer of the Company, as well as a member of the Finance Committee and the Investment Committee of the Board, effective 1 January 2025. Mr. Lo, aged 36, is currently the Director Corporate Development and also a director of certain subsidiaries of the Company. He is also a member of the Executive Committee of the Board. Mr. Lo joined the Company in October 2018 as Executive Assistant to the Chief Executive Officer and was the Head of Corporate Development before he took up the current position in January 2022. Prior to joining the Company, Mr. Lo founded and operated his own restaurant and catering business for five years. Before running his own business, he was a management trainee at Maxims Restaurant Group for two years. He holds a Bachelor of Arts degree in East Asian Studies with a focus in political science from Trinity College, Hartford, CT. Mr. Lo has not held any directorship in any other listed companies in the past three years. Mr. Lo is the son of Mr. Lo Hong Sui, Vincent, the Chairman of the Company, and the younger brother of Ms. Lo Bo Yue, Stephanie, a Non-executive Director of the Company. He is also a director of Shui On Company Limited ("SOCL"), the controlling shareholder of the Company. Save as disclosed herein, at the date of this announcement, Mr. Lo does not have any relationship with any Directors, senior management or substantial or controlling
shareholders of the Company, nor does he hold any other position in the Company or any of its subsidiaries. New Risk • Oct 02
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 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 39% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$242.7m market cap, or US$31.3m). Reported Earnings • Sep 03
First half 2024 earnings released: HK$0.24 loss per share (vs HK$0.21 loss in 1H 2023) First half 2024 results: HK$0.24 loss per share (further deteriorated from HK$0.21 loss in 1H 2023). Revenue: HK$4.11b (up 8.1% from 1H 2023). Net loss: HK$88.0m (loss widened 11% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Announcement • Aug 29
SOCAM Development Limited Announces Change in Chairman of Finance Committee, Effective 29 August 2024 SOCAM Development Limited announced that Mr. Chan Wai Kan, George, a Non-executive Director of the Company and an existing member of the Finance Committee of the Board, has been appointed as the Chairman of the Finance Committee succeeding Mr. Lee Chun Kong, Freddy, effective from 29 August 2024. Mr. Lee will continue to serve as a member of the Finance Committee. Announcement • Aug 15
SOCAM Development Limited to Report First Half, 2024 Results on Aug 28, 2024 SOCAM Development Limited announced that they will report first half, 2024 results on Aug 28, 2024 Board Change • May 03
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 Louis Wong 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 • Mar 28
SOCAM Development Limited, Annual General Meeting, May 30, 2024 SOCAM Development Limited, Annual General Meeting, May 30, 2024, at 16:00 China Standard Time. New Risk • Mar 28
New major risk - Revenue and earnings growth Earnings have declined by 24% 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 Risk Earnings have declined by 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$201.6m market cap, or US$25.8m). Announcement • Mar 15
SOCAM Development Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 SOCAM Development Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Announcement • Sep 23
SOCAM Development Limited Announces Board Changes The Board of Directors of SOCAM Development Limited announced that Mr. William Timothy Addison has tendered his resignation as an Independent Non-executive Director (INED) of the Company with effect from 25 September 2023 as he would like to devote more time to his personal endeavours. The Board announced that Mr. Wong Hak Wood, Louis (Mr. Wong) has been appointed as an INED of the Company, which will take effect from 25 September 2023. Mr. Wong, aged 72, has over 40 years of experience in the construction and property sectors. He joined the Shui On Group in 1981 and had been director of various major operations in its construction and construction materials divisions since 1993. He was an Executive Director of the Company between January 1997 and September 2004 and a Non-executive Director of the Company between September 2004 and June 2006. From October 2008 until his retirement in March 2011, Mr. Wong was an Executive Director of Shui On Land Limited. During his tenure with the Shui On Group, he had also served as the Managing Director of Shui On Properties Limited and a director of Shui On Company Limited, the controlling shareholder of the Company. Mr. Wong was a member of the Chinese People's Political Consultative Conference Committee of Luwan District of Shanghai and the Vice President of the Shanghai Real Estate Trade Association. He previously served as the Vice President of The Hong Kong Association for the Advancement of Real Estate and Construction Technology Limited, a member of the Construction Industry Training Authority, the First Vice President of the Hong Kong Construction Association, a director of the Real Estate Developers Association of Hong Kong, a member of the Construction Advisory Board in Hong Kong, Chairman of the Departmental Advisory Committee for the Department of Building and Construction of the City University of Hong Kong, a member of the Provisional Construction Industry Co-ordination Board, a governing council member of the Construction Industry Institute of Hong Kong, a member of the Occupational Safety and Health Council in Hong Kong and a member of the Corruption Prevention Advisory Committee of the Independent Commission Against Corruption. He holds a Bachelor of Science Degree in Civil Engineering from the University of Manchester. He is a Fellow of the Institution of Civil Engineers and a Member of the Hong Kong Institution of Engineers and was a Fellow of the Chartered Institute of Building. With effect from 25 September 2023, Mr. Addison will vacate his positions as a member of the Audit Committee, the Remuneration Committee, the Nomination Committee, the Finance Committee and the Investment Committee of the Board. Mr. Wong has been appointed as a member of the said Committees effective 25 September 2023. Reported Earnings • Aug 31
First half 2023 earnings released: HK$0.21 loss per share (vs HK$0.16 loss in 1H 2022) First half 2023 results: HK$0.21 loss per share (further deteriorated from HK$0.16 loss in 1H 2022). Revenue: HK$3.80b (up 37% from 1H 2022). Net loss: HK$79.0m (loss widened 32% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Announcement • Aug 30
SOCAM Development Limited Appoints Chan Wai Kan George as Non-Executive Director The Board of Directors of SOCAM Development Limited announced that Mr. Chan Wai Kan, George has been appointed as a Non-executive Director of the Company and a member of the Finance Committee of the Board, which will take effect from 1 September 2023. Mr. Chan, aged 65, rejoined the Shui On Group in July 2017 as the Executive Director of Shui On Investment Company Limited, a subsidiary of Shui On Company Limited, the controlling shareholder of the Company. As from 1 July 2023, Mr. Chan's engagement has shifted to a part-time arrangement. He first joined the Shui On Group in January 2007 as the Director of Finance at Shui On Land Limited, a listed company in Hong Kong, and subsequently served as the Executive Director of Finance at China Xintiandi Limited, a subsidiary of SOL. Besides his tenure with the Shui On Group, Mr. Chan had held various senior management positions across a range of enterprises in the real estate, toy, and magazine publishing industries. Mr. Chan is a member of the Institute of Chartered Accountants in England and Wales. He holds a Bachelor of Science degree in Economic & Accountancy from City, University of London in the United Kingdom and an MBA from The Chinese University of Hong Kong. Mr. Chan has not held any directorship in any other listed companies in the past three years. Announcement • Aug 18
SOCAM Development Limited to Report First Half, 2023 Results on Aug 29, 2023 SOCAM Development Limited announced that they will report first half, 2023 results on Aug 29, 2023 Announcement • Aug 10
Socam Development Limited Announces Change of Composition of Board and Its Committees The Board of Directors of SOCAM Development Limited announced that, to pursue her personal interests after serving on the Board for 15 years, Ms. Li Hoi Lun, Helen ("Ms. Helen Li"), an Independent Non-executive Director of theCompany, will not stand for re-appointment upon expiration of her existing service contract with the Company on 27 August 2023. Accordingly, Ms. Helen Li will step down from the Board as well as from its Audit Committee, Remuneration Committee, Nomination Committee, Finance Committee and Investment Committee with effect from 28 August 2023. To fill the vacancy of chairmanship in the Remuneration Committee arising from the steppingdown of Ms. Helen Li, Mr. Lau Ping Cheung, Kaizer, an Independent Non-executive Director of the Company and an existing member of the Remuneration Committee, has been appointed as the Chairman of the Remuneration Committee with effect from 28 August 2023. Announcement • Aug 01
SOCAM Development Limited (SEHK:983) agreed to acquire 3% stake in Shui On Contractors Limited from Lawrence Choi for HKD 48.1 million. SOCAM Development Limited (SEHK:983) agreed to acquire 3% stake in Shui On Contractors Limited from Lawrence Choi for HKD 48.1 million on July 31, 2023. Shui On Contractors reported net profit of HKD 479 million and net asset of HKD 1.548 billion as at December 31, 2022. The transaction is expected to close within 30 days. Announcement • Jun 01
SOCAM Development Limited Appoints Lau Ping Cheung as Independent Non-Executive Director and A Member of the Audit Committee, Remuneration Committee, Nomination Committee, Finance Committee and Investment Committee of the Board, Effect from 1 June 2023 The Board of Directors of SOCAM Development Limited announced that Mr. Lau Ping Cheung, Kaizer (Mr. Lau) has been appointed as an Independent Non-executive Director ("INED") of the Company and a member of the Audit Committee, Remuneration Committee, Nomination Committee, Finance Committee and Investment Committee of the Board, which will take effect from 1 June 2023. Mr. Lau, aged 71, is a chartered surveyor and has substantial experience and involvements in construction, real estate and infrastructure projects both in Hong Kong and Mainland China. He is currently the Managing Director of Biel Asset Management Company Limited and an INED of China Resources Mixc Lifestyle Services Limited and SEM Holdings Limited, both of which are listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). From August 2015 to January 2022, Mr. Lau was an INED of Kingboard Laminates Holdings Limited, a company listed on the Stock Exchange. He is one of the founders and currently the Chairman of Hong Kong Coalition of Professional Services. Mr. Lau is the former President of The Hong Kong Institute of Surveyors and a former Chairman of the Royal Institution of Chartered Surveyors (Hong Kong Branch). He is a former non- executive director of the Urban Renewal Authority and a former member of the HKSAR Legislative Council, the Lantau Development Advisory Committee and the Long Term Housing Strategy Steering Committee. He is also a former council member of the City University of Hong Kong and The Hong Kong Polytechnic University as well as a former member of the National Committee of the Chinese People's Political Consultative Conference. Mr. Lau worked previously in the Shui On Group for over 17 years until he left in 2017, at which time he held the position of Director - Project Development at SOCAM Asset Management (HK) Limited, a subsidiary of the Company. Mr. Lau holds a Higher Diploma in Quantity Surveying from the Hong Kong Polytechnic (now known as The Hong Kong Polytechnic University) and a Master Degree in Construction Project Management from The University of Hong Kong. He is a fellow of The Hong Kong Institute of Surveyors. Reported Earnings • Mar 26
Full year 2022 earnings released Full year 2022 results: Net loss: HK$232.0m (down 405% from profit in FY 2021). 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. 3 highly experienced directors. CEO & Executive Director Freddy Lee was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 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. 3 experienced directors. 3 highly experienced directors. CEO & Executive Director Freddy Lee was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
First half 2022 earnings released: HK$0.16 loss per share (vs HK$0.053 profit in 1H 2021) First half 2022 results: HK$0.16 loss per share (down from HK$0.053 profit in 1H 2021). Revenue: HK$2.67b (up 11% from 1H 2021). Net loss: HK$60.0m (down 400% from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 01
Upcoming dividend of HK$0.07 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 30 June 2022. Trailing yield: 5.3%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (4.9%). Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: HK$0.20 (vs HK$0.14 in FY 2020) Full year 2021 results: EPS: HK$0.20 (up from HK$0.14 in FY 2020). Revenue: HK$5.40b (down 5.3% from FY 2020). Net income: HK$76.0m (up 46% from FY 2020). Profit margin: 1.4% (up from 0.9% in FY 2020). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.35, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 9x in the Construction industry in Hong Kong. Total loss to shareholders of 33% over the past three years. Reported Earnings • Aug 30
First half 2021 earnings released: EPS HK$0.053 (vs HK$0.35 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$2.41b (up 6.1% from 1H 2020). Net income: HK$20.0m (up HK$150.0m from 1H 2020). Profit margin: 0.8% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS HK$0.14 (vs HK$0.018 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$5.91b (up 5.4% from FY 2019). Net income: HK$52.0m (up HK$45.0m from FY 2019). Profit margin: 0.9% (up from 0.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 20
New 90-day low: HK$1.21 The company is down 20% from its price of HK$1.52 on 21 August 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 2.0% over the same period. Is New 90 Day High Low • Oct 23
New 90-day low: HK$1.28 The company is down 17% from its price of HK$1.55 on 24 July 2020. The Hong Kong market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day low: HK$1.35 The company is down 18% from its price of HK$1.64 on 10 July 2020. The Hong Kong market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 5.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day low: HK$1.40 The company is down 17% from its price of HK$1.68 on 23 June 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 up 8.0% over the same period. Reported Earnings • Sep 19
First half earnings released Over the last 12 months the company has reported total losses of HK$134.0m, with losses widening by 175% from the prior year. Total revenue was HK$5.22b over the last 12 months, down 1.4% from the prior year.