New Risk • Jun 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 16% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-HK$52m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (HK$47.7m market cap, or US$6.09m). Minor Risk Revenue is less than US$5m (HK$20m revenue, or US$2.5m). New Risk • Apr 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$77.2m (US$9.86m) 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 Less than 1 year of cash runway based on free cash flow trend (-HK$52m free cash flow). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (HK$77.2m market cap, or US$9.86m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (HK$20m revenue, or US$2.5m). New Risk • Dec 24
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -HK$52m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-HK$52m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 68% per year over the past 5 years. Minor Risks Revenue is less than US$5m (HK$20m revenue, or US$2.5m). Market cap is less than US$100m (HK$97.2m market cap, or US$12.5m). New Risk • Nov 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 15% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (HK$77.2m market cap, or US$9.92m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-HK$19m). Revenue is less than US$5m (HK$20m revenue, or US$2.5m). New Risk • Nov 28
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -HK$19m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (HK$77.2m market cap, or US$9.92m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-HK$19m). Share price has been volatile over the past 3 months (15% average weekly change). Revenue is less than US$5m (HK$20m revenue, or US$2.5m). Announcement • Nov 17
Minshang Creative Technology Holdings Limited to Report First Half, 2026 Results on Nov 27, 2025 Minshang Creative Technology Holdings Limited announced that they will report first half, 2026 results on Nov 27, 2025 New Risk • Oct 23
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 12% 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 Earnings have declined by 53% per year over the past 5 years. Revenue is less than US$1m (HK$191k revenue, or US$25k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$91.5m market cap, or US$11.8m). New Risk • Oct 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$76.3m (US$9.82m) 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 Earnings have declined by 53% per year over the past 5 years. Revenue is less than US$1m (HK$191k revenue, or US$25k). Market cap is less than US$10m (HK$76.3m market cap, or US$9.82m). Board Change • Aug 25
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 Sammy Choi 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. Reported Earnings • Aug 05
Full year 2025 earnings released: HK$0.062 loss per share (vs HK$0.069 loss in FY 2024) Full year 2025 results: HK$0.062 loss per share (improved from HK$0.069 loss in FY 2024). Net loss: HK$56.8m (loss narrowed 7.6% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 22
Full year 2025 earnings released: HK$0.062 loss per share (vs HK$0.04 loss in FY 2024) Full year 2025 results: HK$0.062 loss per share (further deteriorated from HK$0.04 loss in FY 2024). Net loss: HK$56.8m (loss widened 59% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • Jun 21
Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 21, 2025 Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 21, 2025. Announcement • Jun 10
Minshang Creative Technology Holdings Limited to Report Fiscal Year 2025 Results on Jun 20, 2025 Minshang Creative Technology Holdings Limited announced that they will report fiscal year 2025 results on Jun 20, 2025 Board Change • Jun 05
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 Sammy Choi 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. Board Change • May 07
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 Sammy Choi 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. Board Change • Jan 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 Sammy Choi 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. New Risk • Jan 19
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 9.8% 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 Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m (HK$116k revenue, or US$15k). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (HK$205.0m market cap, or US$26.3m). Board Change • Jan 02
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 Sammy Choi 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. Board Change • Dec 20
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 Sammy Choi 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 • Dec 19
Minshang Creative Technology Holdings Limited Announces Executive Changes Minshang Creative Technology Holdings Limited announced the resignation of Ms. Li Jia as an executive director of the Company. The Board announced that Ms. Ning Mengmeng ("Ms. Ning") has been appointed as executive Director with effect from 19 December 2024. The biographical details of Ms. Ning are set out below: Ms. Ning, aged 38, has over 10 years of experience in financial investment management. Ms. Ning joins the Group as an executive Director of the Company and is responsible for investment management. She was the vice general manager of Hainan Pin Yi Investment Company Limited from August 2022 to December 2024, a company which principally engages in financial investment management. Ms. Ning has also worked in Beijing Zhaocaiyu Investment Management Limited, a company which principally engages in financial investment management, and she was the general manager of this company from June 2019 to June 2020. Ms. Ning was graduated from Nanchang Institute of Technology. New Risk • Dec 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.0% per year over the past 5 years. Revenue is less than US$1m (HK$116k revenue, or US$15k). Minor Risks Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Market cap is less than US$100m (HK$252.6m market cap, or US$32.5m). Reported Earnings • Nov 30
First half 2025 earnings released: HK$0.012 loss per share (vs HK$0.017 profit in 1H 2024) First half 2025 results: HK$0.012 loss per share (down from HK$0.017 profit in 1H 2024). Net loss: HK$11.1m (down 175% from profit in 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Announcement • Nov 27
Minshang Creative Technology Holdings Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 September 2024 Minshang Creative Technology Holdings Limited provided unaudited consolidated earnings guidance for the six months ended 30 September 2024. For the period, Group expected to record a net loss attributable to shareholders of the Company approximately HKD 10 million for the Period as compared to a net profit attributable to shareholders of the Company of approximately HKD 15 million for the six months ended 30 September 2023 (the "Last Corresponding Period"). Announcement • Nov 26
Minshang Creative Technology Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 29.6 million. Minshang Creative Technology Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 29.6 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: HKD 0.48
Security Name: Shares
Security Type: Common Stock
Securities Offered: 40,000,000
Price\Range: HKD 0.5
Transaction Features: Subsequent Direct Listing Announcement • Nov 19
Minshang Creative Technology Holdings Limited to Report First Half, 2025 Results on Nov 29, 2024 Minshang Creative Technology Holdings Limited announced that they will report first half, 2025 results on Nov 29, 2024 Announcement • Nov 01
Minshang Creative Technology Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 30 million. Minshang Creative Technology Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 30 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: HKD 0.5
Transaction Features: Subsequent Direct Listing Reported Earnings • Aug 05
Full year 2024 earnings released: HK$0.04 loss per share (vs HK$0.001 profit in FY 2023) Full year 2024 results: HK$0.04 loss per share (down from HK$0.001 profit in FY 2023). Net loss: HK$35.6m (down HK$36.5m from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 30
Full year 2024 earnings released: HK$0.04 loss per share (vs HK$0.002 loss in FY 2023) Full year 2024 results: HK$0.04 loss per share (further deteriorated from HK$0.002 loss in FY 2023). Net loss: HK$35.6m (loss widened HK$34.2m from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Jun 29
Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 22, 2024 Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 22, 2024. Announcement • Jun 19
Minshang Creative Technology Holdings Limited to Report Fiscal Year 2024 Results on Jun 28, 2024 Minshang Creative Technology Holdings Limited announced that they will report fiscal year 2024 results on Jun 28, 2024 New Risk • Dec 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (HK$197.4m market cap, or US$25.3m). Reported Earnings • Nov 28
First half 2024 earnings released: EPS: HK$0.017 (vs HK$0.003 loss in 1H 2023) First half 2024 results: EPS: HK$0.017 (up from HK$0.003 loss in 1H 2023). Revenue: HK$77.5m (up 122% from 1H 2023). Net income: HK$14.9m (up HK$18.0m from 1H 2023). Profit margin: 19% (up from net loss in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 19% per year. Announcement • Nov 21
Minshang Creative Technology Holdings Limited Provides Unaudited Consolidated Earning Guidance for the Six Month Ended September 30, 2023 Minshang Creative Technology Holdings Limited provided unaudited consolidated earning guidance for the six month ended September 30, 2023. For the period, the Group is expected to record a net profit attributable to shareholders of the Company of approximately HKD 15 million for the Period as compared to a net loss attributable to shareholders of the Company of approximately HKD 3 million for the six months ended 30 September 2022. The Board considers that such expected turnaround from net loss to net profit was mainly attributable to the gain on disposal of subsidiaries completed on 27 April 2023 of approximately HKD 25.8 million. Announcement • Nov 17
Minshang Creative Technology Holdings Limited to Report First Half, 2024 Results on Nov 24, 2023 Minshang Creative Technology Holdings Limited announced that they will report first half, 2024 results on Nov 24, 2023 Reported Earnings • Jul 31
Full year 2023 earnings released: HK$0.002 loss per share (vs HK$0.007 loss in FY 2022) Full year 2023 results: HK$0.002 loss per share (improved from HK$0.007 loss in FY 2022). Revenue: HK$106.6m (down 88% from FY 2022). Net loss: HK$1.36m (loss narrowed 77% from FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 24, 2023 Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 24, 2023, at 10:00 China Standard Time. Location: Unit 1203B, 20405, 12/F, World-Wide House, 19 Des Voeux Road Central, Hong Kong Hong Kong Agenda: To consider and adopt the audited consolidated financial statements of the Company and its subsidiaries for the year ended 31 March 2023 together with the reports of the directors and independent auditor thereon; To authorise the board of directors of the Company to fix the remuneration of the directors of the Company for the year ending 31 March 2024; To re-appoint RSM Hong Kong as the independent auditor of the Company and authorise the board of directors of the Company to fix its remuneration; To re-elect an executive director and non-executive director;. Reported Earnings • Jun 30
Full year 2023 earnings released: HK$0.001 loss per share (vs HK$0.007 loss in FY 2022) Full year 2023 results: HK$0.001 loss per share (improved from HK$0.007 loss in FY 2022). Revenue: HK$106.6m (down 88% from FY 2022). Net loss: HK$1.36m (loss narrowed 77% from FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Jun 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. 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 Risk Share price has been highly volatile over the past 3 months (26% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (HK$330.5m market cap, or US$42.3m). Announcement • Jun 17
Minshang Creative Technology Holdings Limited to Report Fiscal Year 2023 Results on Jun 29, 2023 Minshang Creative Technology Holdings Limited announced that they will report fiscal year 2023 results on Jun 29, 2023 Announcement • Jan 11
Minshang Creative Technology Holdings Limited Announces Resignation of Mr. Lu Shenghong as Executive Director The board of directors of Minshang Creative Technology Holdings Limited announced that Mr. Lu Shenghong (Mr. Lu) has resigned as an Executive Director of the company with effect from 10 January 2023 due to his personal commitments. Reported Earnings • Nov 26
First half 2023 earnings released: HK$0.003 loss per share (vs HK$0.001 loss in 1H 2022) First half 2023 results: HK$0.003 loss per share (further deteriorated from HK$0.001 loss in 1H 2022). Revenue: HK$34.9m (down 96% from 1H 2022). Net loss: HK$3.05m (loss widened 306% from 1H 2022). 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 7% per year, which means it is significantly lagging earnings. Announcement • Nov 16
Minshang Creative Technology Holdings Limited to Report First Half, 2023 Results on Nov 25, 2022 Minshang Creative Technology Holdings Limited announced that they will report first half, 2023 results on Nov 25, 2022 Board Change • Nov 16
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. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non Executive Director Sammy Choi was the last independent director to join the board, commencing their role in 2018. 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 • Jul 02
Full year 2022 earnings released Full year 2022 results: Revenue: HK$910.3m (down 43% from FY 2021). Net loss: HK$6.03m (down 124% from profit in FY 2021). Announcement • Jul 01
Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 26, 2022 Minshang Creative Technology Holdings Limited, Annual General Meeting, Aug 26, 2022. Announcement • Jun 24
Minshang Creative Technology Holdings Limited (SEHK:1632) completed the acquisition of Changjing Wanxiang (Beijing) Technology Co., Ltd. from Tiantu VC USD Fund I L.P. and others. Minshang Creative Technology Holdings Limited (SEHK:1632) agreed to acquire Changjing Wanxiang (Beijing) Technology Co., Ltd. from Tiantu VC USD Fund I L.P. and others for approximately HKD 120 million on December 24, 2021. Minshang Creative will issue 171,783,636 shares to vendors. Assuming the fulfillment of the 2022 Financial Guarantee and the 2023 Financial Guarantee, the Second Stage Consideration Shares and the Third Stage Consideration Shares will be allotted and issued respectively. The first stage of the Consideration shall be HKD 22,847,224, which shall be settled by allotment and issue of a total of 34,356,728 Consideration Shares. HKD 34,270,835, which shall be settled by allotment and issue of a total of 51,535,090 Consideration Shares as second stage of consideration and HKD 57,118,059, which shall be settled by allotment and issue of a total of 85,891,818 Consideration Shares will be third stage of consideration. Upon Completion, Changjing Wanxiang will become a wholly-owned subsidiary of Minshang and the financial results of the Target Group will therefore be consolidated into the consolidated financial statements of Minshang. The unaudited net asset value of Changjing Wanxiang as at 30 November 2021 was approximately HKD 9.3 million. The transaction is subject to due diligence, all necessary consents, filings and approvals by such third parties (including any governmental, official body or regulatory authority). As of June 22, 2022, all conditions precedent to completion of agreement have been fulfilled. Parties agreed to extend the Long Stop Date to June 30, 2022.
Minshang Creative Technology Holdings Limited (SEHK:1632) completed the acquisition of Changjing Wanxiang (Beijing) Technology Co., Ltd. from Tiantu VC USD Fund I L.P. and others on June 22, 2022. At completion, Minshang issued the first stage consideration shares, being a total of 34,356,728 consideration shares. Announcement • Jun 21
Minshang Creative Technology Holdings Limited Provides Consolidated Earnings Guidance for the Year Ended 31 March 2022 The board of directors of the Minshang Creative Technology Holdings Limited announced that, based on a preliminary review of the unaudited consolidated management accounts of the company for the year ended 31 March 2022, the Group is expected to record a net loss attributable to owners of the Company in between approximately HKD 6 million to HKD 9 million for the year ended 31 March 2022 as compared to a net profit attributable to owners of the Company of approximately HKD 25.6 million for the year ended 31 March 2021. The Board considers that such loss was mainly attributable to (i) the rise in cost of revenue, in particular, the advertising and promotion costs for technology services business; (ii) decrease in share of results of associates due to fierce market competition which led to a drop in profit margin and increase in operating costs due to continuous outbreak of COVID-19 during the Period; and (iii) the decrease in revenue from trading business due to decline in demand as a result of continuous outbreak of COVID-19 during the Period. Announcement • Jun 15
Minshang Creative Technology Holdings Limited to Report Q4, 2022 Results on Jun 24, 2022 Minshang Creative Technology Holdings Limited announced that they will report Q4, 2022 results on Jun 24, 2022 Board Change • Apr 27
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. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non Executive Director Sammy Choi was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Dec 25
Minshang Creative Technology Holdings Limited (SEHK:1632) agreed to acquire Changjing Wanxiang (Beijing) Technology Co., Ltd. from Tiantu VC USD Fund I L.P. and others for approximately HKD 120 million. Minshang Creative Technology Holdings Limited (SEHK:1632) agreed to acquire Changjing Wanxiang (Beijing) Technology Co., Ltd. from Tiantu VC USD Fund I L.P. and others for approximately HKD 120 million on December 24, 2021. Minshang Creative will issue 171,783,636 shares to vendors. Assuming the fulfillment of the 2022 Financial Guarantee and the 2023 Financial Guarantee, the Second Stage Consideration Shares and the Third Stage Consideration Shares will be allotted and issued respectively. The first stage of the Consideration shall be HKD 22,847,224, which shall be settled by allotment and issue of a total of 34,356,728 Consideration Shares. HK$34,270,835, which shall be settled by allotment and issue of a total of 51,535,090 Consideration Shares as second stage of consideration and HKD 57,118,059, which shall be settled by allotment and issue of a total of 85,891,818 Consideration Shares will be third stage of consideration. Upon Completion, Changjing Wanxiang will become an indirect wholly-owned subsidiary of Minshang and the financial results of the Target Group will therefore be consolidated into the consolidated financial statements of Minshang. The unaudited net asset value of Changjing Wanxiang as at 30 November 2021 was approximately HKD 9.3 million. The transaction is subject to due diligence, all necessary consents, filings and approvals by such third parties (including any governmental, official body or regulatory authority). Reported Earnings • Nov 29
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: HK$0.001 loss per share (down from HK$0.007 profit in 1H 2021). Revenue: HK$872.4m (up 36% from 1H 2021). Net loss: HK$752.0k (down 113% from profit in 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 02
Full year 2021 earnings released: EPS HK$0.03 (vs HK$0.024 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: HK$1.59b (up 57% from FY 2020). Net income: HK$25.6m (up HK$46.5m from FY 2020). Profit margin: 1.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 23
Full year 2021 earnings released: EPS HK$0.03 (vs HK$0.024 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: HK$1.59b (up 57% from FY 2020). Net income: HK$25.6m (up HK$46.5m from FY 2020). Profit margin: 1.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Announcement • Jun 16
Minshang Creative Technology Holdings Limited Provides Unaudited Consolidated Financial Guidance for the Year Ended March 31, 2021 Minshang Creative Technology Holdings Limited provided unaudited consolidated financial guidance for the year ended March 31, 2021. For the period, the Group is expected to record a net profit attributable to shareholders of the Company within the range of HKD 22 million to HKD 27 million for the year ended 31 March 2021 as compared to a net loss attributable to shareholders of the Company of approximately HKD 21 million for the year ended 31 March 2020. Executive Departure • May 04
Non-Executive Director has left the company On the 30th of April, Stacey Wong's tenure as Non-Executive Director ended after 2.8 years in the role. We don't have any record of a personal shareholding under Stacey's name. A total of 2 executives have left over the last 12 months. Is New 90 Day High Low • Dec 30
New 90-day high: HK$0.86 The company is up 115% from its price of HK$0.40 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: HK$0.82 The company is up 80% from its price of HK$0.46 on 15 September 2020. The Hong Kong market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 3.0% over the same period. Announcement • Dec 06
Minshang Creative Technology Holdings Limited Announces Management Changes The board of directors of Minshang Creative Technology Holdings Limited announced that Mr. Ko Po Ming has resigned as an independent non-executive director, the chairman of the remuneration committee and a member of the audit committee of the Company with effect from 4 December 2020 due to his intended pursuit of other business engagements which require more of his dedication. Mr. Ko has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board further announced that following the resignation of Mr. Ko, Mr. Cheung Miu, an independent non-executive director and an existing member of the remuneration committee of the Company, was appointed as the chairman of the remuneration committee with effect from 4 December 2020 and Mr. Cheung Pak To, Patrick, an independent non-executive director of the Company, was appointed as a member of the audit committee and the remuneration committee of the Company with effect from 4 December 2020. Reported Earnings • Nov 28
First half 2021 earnings released: EPS HK$0.007 The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$642.5m (up 51% from 1H 2020). Net income: HK$5.91m (up HK$11.2m from 1H 2020). Profit margin: 0.9% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year whereas the company’s share price has fallen by 43% per year. Announcement • Nov 14
Minshang Creative Technology Holdings Limited to Report First Half, 2021 Results on Nov 26, 2020 Minshang Creative Technology Holdings Limited announced that they will report first half, 2021 results on Nov 26, 2020 Is New 90 Day High Low • Nov 10
New 90-day low: HK$0.39 The company is down 25% from its price of HK$0.51 on 12 August 2020. The Hong Kong market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 5.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: HK$0.41 The company is down 19% from its price of HK$0.50 on 26 June 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 11% over the same period. 
