Qeeka Home (Cayman) SEHK:1739 Stock Report

Qeeka Home (Cayman) Inc. Provides Earnings Guidance for the Six Months Ended 30 June 2022

Qeeka Home (Cayman) Inc. Announces Change of Non-Executive Director

The board of directors of Qeeka Home (Cayman) Inc. announced that, due to adjustment of work adjustments which require her to devote more time to her other commitments, Ms. PING Xiaoli ("Ms. Ping") has resigned as a non-executive Director of the Company, which is effective from June 23, 2022. Ms. Ping has confirmed that there is no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company. The Board further announced that Mr. XIAO Yang ("Mr. Xiao") has been appointed as a non-executive Director of the Company with effect from June 23, 2022. Mr. Xiao, aged 43, joined Baidu Inc. (a company listed on the NASDAQ stock market and the Hong Kong Stock Exchange since July 2004 and has served various positions. In 2004, he focused on key technologies including fundamental relevance of web search engine, anti-spam, hyperlink analysis and database indexing, etc., as well as the training and nurturing of the core technology team of Baidu search. He held the position as a senior manager in 2007 taking charge of the technology and operations of Japanese products. In 2010, he served as director and senior director of the Baidu international business unit, responsible for formulating international strategies and leading the implementation through coordinating different research and development, operations and production local teams. In 2019, he served as vice president of Baidu and head of user product architecture platform and quality assurance and efficiency platform of Baidu Mobile Ecosystem Group ("MEG Group"). Mr. Xiao currently serves as vice president of Baidu Group and is the head of search platform of MEG Group and e-commerce business. Mr. Xiao received a master's degree in computer science and technology from Tsinghua University in July 2004.

Full year 2021 earnings released: EPS: CN¥0.065 (vs CN¥0.034 in FY 2020)

Full year 2021 results: EPS: CN¥0.065 (up from CN¥0.034 in FY 2020). Revenue: CN¥1.11b (up 21% from FY 2020). Net income: CN¥74.1m (up 82% from FY 2020). Profit margin: 6.7% (up from 4.4% in FY 2020). 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.

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. 6 non-independent directors. Independent Non-Executive Director Francis Wong 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.