Announcement • Nov 06
Shan Huei KUO and Yi-Mei LIU completed the acquisition of 29% stake in Samson Holding Ltd. (SEHK:531). Shan Huei KUO and Yi-Mei LIU to acquire 29% stake in Samson Holding Ltd. (SEHK:531) for HKD 420 million on July 11, 2024. As part of consideration, the Proposal will involve making an offer to cancel 879,468,000 Scheme Shares in exchange for the Offer Price of HKD 0.480 per Scheme Share, with the maximum cash consideration payable by the Offeror under the proposal being approximately HKD 422,144,640. The Offeror intends to finance the cash consideration payable under the Proposal by a facility provided by CTBC Bank Co., Ltd and DBS Bank (Hong Kong) Limited. The transaction is subject to approval by regulatory board/committee and approval of offer by target shareholders. The Board of Directors of Samson Holding Ltd. formed a special committee for the transaction. As of October 29, 2024, Subject to all the remaining Conditions being fulfilled or waived, it is expected that the Scheme will become effective on November 1, 2024. As of November 4, 2024 the transaction has been approved by the grand court and shareholders of Samson Holding Ltd. The transaction is expected to become effective on November 4, 2024.
DBS Asia Capital Limited acted as financial advisor to offeror. Quam Capital Limited acted as financial advisor to the Independent Board Committee of Samson Holding Ltd.
Shan Huei KUO and Yi-Mei LIU completed the acquisition of 29% stake in Samson Holding Ltd. (SEHK:531) on November 4, 2024. All the Conditions set out in the Conditions to the Proposal and the Scheme and in Explanatory Memorandum of the Scheme Document have been fulfilled and the Scheme became effective. Withdrawal of the listing of the Shares on the Main Board of the Stock Exchange will become effective from November 7, 2024. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: US$0 (vs US$0 in 1H 2023) First half 2024 results: EPS: US$0 (in line with 1H 2023). Revenue: US$200.1m (down 7.2% from 1H 2023). Net loss: US$716.0k (loss narrowed 36% from 1H 2023). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Aug 02
Samson Holding Ltd. to Report Q2, 2024 Results on Aug 23, 2024 Samson Holding Ltd. announced that they will report Q2, 2024 results on Aug 23, 2024 New Risk • Jun 26
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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (HK$544.6m market cap, or US$69.8m). Announcement • Apr 12
Samson Holding Ltd., Annual General Meeting, May 23, 2024 Samson Holding Ltd., Annual General Meeting, May 23, 2024, at 14:30 China Standard Time. Location: 10/F, United Centre, 95 Queensway Admiralty Hong Kong Agenda: To receive, consider and adopt the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors of the Company (the "Directors" and each a "Director") and of the independent auditor of the Company for the year ended 31 December 2023; to consider re-election of Directors of the Company; to authorize the board of Directors to fix the remuneration of the Directors; to re-appoint Ernst & Young as auditors and to authorize the Board to fix their remuneration; and to consider any other matters. Announcement • Mar 21
Samson Holding Ltd. Announces Appointment of Mr. Lin Hung Kang as an Independent Non-Executive Director Samson Holding Ltd. announced the appointment of Mr. Lin Hung Kang as an Independent Non-Executive Director with effect from 21 March 2024. Mr. Lin, also known as Hank Lin, aged 63, graduated from Bernard M. Baruch College, the City University of New York, with a master's degree in business administration in 1992, and is a certified public accountant in Taiwan and New York State, USA. Mr. Lin has more than 30 years of experience in assurance services and excels in corporate finance, accounting and auditing. Prior to joining the Company, Mr. Lin was a managing partner of Ernst & Young Taiwan. Mr. Lin is currently an independent non-executive director of each of Johnson Health Tech. Co. Ltd. (stock code: 1736.TW) and O-Bank Co. Ltd.; and the corporate representative director of each of Panjit International Inc. and Global Union Industrial Corp. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: US$0.001 (vs US$0.005 in FY 2022) Full year 2023 results: EPS: US$0.001 (down from US$0.005 in FY 2022). Revenue: US$414.5m (down 31% from FY 2022). Net income: US$3.29m (down 78% from FY 2022). Profit margin: 0.8% (down from 2.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Mar 02
Samson Holding Ltd. to Report Fiscal Year 2023 Results on Mar 20, 2024 Samson Holding Ltd. announced that they will report fiscal year 2023 results on Mar 20, 2024 New Risk • Dec 12
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 2.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (HK$692.9m market cap, or US$88.7m). Reported Earnings • Aug 25
First half 2023 earnings released: EPS: US$0 (vs US$0.003 in 1H 2022) First half 2023 results: EPS: US$0 (down from US$0.003 in 1H 2022). Revenue: US$215.6m (down 23% from 1H 2022). Net loss: US$1.12m (down 113% from profit in 1H 2022). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Aug 24
Samson Holding Ltd. Announces No Interim Dividend for the Six Months Ended 30 June 2023 Samson Holding Ltd. announced the board does not recommend the payment of any interim dividend for the six months ended 30 June 2023. The Board declared an interim dividend of HKD 0.01 per share amounting to approximately HKD 30.4 million in aggregate, equivalent to approximately USD 3.9 million in aggregate for the six months ended 30 June 2022. Announcement • Aug 04
Samson Holding Ltd. to Report First Half, 2023 Results on Aug 23, 2023 Samson Holding Ltd. announced that they will report first half, 2023 results on Aug 23, 2023 New Risk • Jul 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$756.5m (US$96.7m) 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 Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (HK$756.5m market cap, or US$96.7m). Upcoming Dividend • May 25
Upcoming dividend of HK$0.01 per share at 8.0% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 20 June 2023. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.4%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: US$0.005 (vs US$0.009 in FY 2021) Full year 2022 results: EPS: US$0.005 (down from US$0.009 in FY 2021). Revenue: US$598.9m (up 23% from FY 2021). Net income: US$15.1m (down 44% from FY 2021). Profit margin: 2.5% (down from 5.6% 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 109% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director SY Wu was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 31
Upcoming dividend of HK$0.01 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 23 September 2022. Trailing yield: 5.3%. Lower than top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (4.3%). Reported Earnings • Aug 27
First half 2022 earnings released: EPS: US$0.003 (vs US$0.005 in 1H 2021) First half 2022 results: EPS: US$0.003 (down from US$0.005 in 1H 2021). Revenue: US$279.0m (up 18% from 1H 2021). Net income: US$8.47m (down 41% from 1H 2021). Profit margin: 3.0% (down from 6.0% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 31
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 07 June 2022. Payment date: 22 June 2022. Trailing yield: 4.5%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (4.0%). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 7 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director SY Wu was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 27
First half 2021 earnings released: EPS US$0.005 (vs US$0.005 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: US$237.3m (up 38% from 1H 2020). Net income: US$14.4m (up US$29.4m from 1H 2020). Profit margin: 6.0% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 18
Full year 2020 earnings released: US$0.005 loss per share (vs US$0.016 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$397.6m (down 13% from FY 2019). Net loss: US$14.0m (loss narrowed 71% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 27
Full year 2020 earnings released: US$0.005 loss per share (vs US$0.016 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$397.6m (down 13% from FY 2019). Net loss: US$14.0m (loss narrowed 71% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 08
New 90-day high: HK$0.36 The company is up 52% from its price of HK$0.24 on 10 November 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 32% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: HK$0.21 The company is down 9.0% from its price of HK$0.23 on 22 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 12
New 90-day high: HK$0.25 The company is up 5.0% from its price of HK$0.24 on 14 August 2020. The Hong Kong market is also up 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Consumer Durables industry, which is up 22% over the same period.