New Risk • 6h
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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 1.0% per year over the past 5 years. High level of non-cash earnings (29% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). Announcement • May 23
ETHK Labs Inc., Annual General Meeting, Jun 30, 2026 ETHK Labs Inc., Annual General Meeting, Jun 30, 2026, at 11:00 China Standard Time. Location: room 3302, 33/f, west tower, shun tak centre, 200 connaught road central, Hong Kong Reported Earnings • Mar 29
Full year 2025 earnings released: EPS: CN¥0.022 (vs CN¥0.17 in FY 2024) Full year 2025 results: EPS: CN¥0.022 (down from CN¥0.17 in FY 2024). Revenue: CN¥2.82b (down 11% from FY 2024). Net income: CN¥34.9m (down 87% from FY 2024). Profit margin: 1.2% (down from 8.2% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Mar 11
ETHK Labs Inc. to Report Fiscal Year 2025 Results on Mar 27, 2026 ETHK Labs Inc. announced that they will report fiscal year 2025 results at 4:00 PM, China Standard Time on Mar 27, 2026 Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to HK$1.16, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 11x in the Healthcare industry in Hong Kong. Total loss to shareholders of 13% over the past three years. Announcement • Feb 07
ETHK Labs Inc. Announces Appointment of Yi Xiao as an Executive Director and Chief Scientist, Effective 6 February 2026 ETHK Labs Inc. announced that Ms. Yi Xiao has been appointed as an executive director and chief scientist of the Company with effect from 6 February 2026. Ms. YI Xiao, aged 32, obtained a Bachelor of Medicine from the University of South China in June 2016, majoring in clinical medicine, and a Doctor of Medicine from Southern Medical University in June 2022, majoring in obstetrics and gynaecology. Ms. Yi has been a professor at the Translational Medicine Centre of Zhujiang Hospital of Southern Medical University in July 2022, and a part-time young researcher of the Greater Bay Area Institute of Precision Medicine (Guangzhou) in 2023. Ms. Yi is also a chief scientist of the Company with effect from 6 February 2026. Ms. Li became a member of the Youth Academic Group of the Sixth Committee of the Reproductive Medicine Branch of the Chinese Medical Association in May 2025. She became an early career editorial board member of Interdisciplinary Medicine in October 2024, a member of the Youth Committee of the 3D Bioprinting and Regenerative Medicine Branch of the Guangdong Society of Biomedical Engineering in June 2024, a standing committee member of the First Committee of the Youth Professional Committee of Obstetrics and Gynaecology of the Guangdong Clinical Medical Association in June 2024, the vice chairperson of the Youth Committee of the Fourth Committee of the Reproductive Medicine Branch of the Guangdong Medical Association in July 2023, a standing committee member of the Second Maternal and Child Health Branch of the Guangdong Society for Translational Medicine in June 2023, and a member of the Committee for the Promotion of Basic and Clinical Research of the China Medicine Education Association in April 2023. Ms. Yi has published multiple papers in domestic and international journals, including papers appearing in international publications such as Science Advances, Advanced Materials Biomaterials, Nano Today Engineered Regeneration, Stem Cell Research & Therapy. Ms. Yi has also led multiple research projects, including the National Key Research and Development Program (Young Scientist), the Guangdong Provincial Natural Science Foundation Outstanding Young Scholars Program, and the Guangdong Science and Technology Program (Key R&D Program). Related products have obtained IND approval and Class III medical device registration certification. As project leader or primary advisor, Ms. Yi has received various national-level awards and provincial/ministerial-level awards, including the National Gold Award of the China Postdoctoral Innovation and Entrepreneurship Competition and the National Gold Award of the International "Internet+" Innovation and Entrepreneurship Competition. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to HK$1.30, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 11x in the Healthcare industry in Hong Kong. Total loss to shareholders of 24% over the past three years. Announcement • Jan 29
Ethk Labs Inc. Announces Successful Development of A Dual-Platform Solution for Nipah Virus Detection by A Subsidiary and the Group's Ai Healthcare Strategy Upgrade ETHK Labs Inc. announced that ICXIVD has successfully developed a dual-platform detection solution for Nipah virus. This solution provides comprehensive technical support spanning rapid screening to precise source tracing: Intelligent Fluorescent PCR Rapid Detection Platform. Leveraging its proprietary AI primer design platform, ICXIVD deeply integrates intelligent modules including gene retrieval, automated primer design and multi-dimensional performance evaluation. The "Nipah Virus Nucleic Acid Detection Kit (Fluorescent PCR Method)" developed on such basis has the following characteristics: Intelligent and simple operation: Compatible with mainstream PCR instruments, supporting an integrated "sample-in, result-out" workflow that significantly reduces operational complexity and human error; High-efficiency and precise detection: Completes amplification testing within one hour, securing a critical window of time for pandemic emergency response; System stability and compatibility: Fully compatible with extraction systems (Guang Sheng Xie Bei No. 20240357), supporting flexible 48T/96T configurations to meet diverse throughput requirements. High-Throughput Sequencing and Intelligent Analysis Platform. ICXIVD has developed a localised pathogen sequencing solution based on second-generation sequencing technology, covering the entire workflow from " wet lab experiments to dry analysis". Leveraging its proprietary, continuously updated multi- species pathogen genome database (encompassing 18,628 pathogens including bacteria, viruses, fungi and parasites), the system enables simultaneous detection and identification of Nipah virus alongside other co-existing pathogens. Complemented by an in-house developed intelligent microbial data analysis and reporting platform, it integrates one-click bioinformatics analysis, automated report generation and visualisation capabilities. This enables a fully closed-loop workflow from sample reception to report issuance within 17 hours. The platform not only supports rapid identification of common, rare and emerging pathogens but also facilitates viral evolutionary tracking, transmission chain analysis and public health risk assessment, providing molecular evidence and data insights for precision prevention and control. ICXIVD High-Throughput Sequencing & Intelligent Analysis Platform Solution. STRATEGIC ELEVATION: from "TESTING Products" to "INTELLIGENT MONITORING AS Service". The rapid deployment of Nipah virus detection capabilities not only demonstrates ICXIVD's technological strengths but also represents a pivotal step in the pursuit of ETHK Labs's broader AI healthcare strategy. With the steady progress of acquisition of B-Soft Co. Ltd. (Stock code: 300451.SZ) where relevant procedures are advancing in an orderly manner, the Group is accelerating the establishment of a next-generation public health prevention and control paradigm centred on "AI Early Warning + Rapid Diagnosis + Ecosystem Synergy". Establish a closed-loop " monitoring- alert-diagnosis-intervention " system, empowering disease control centres, customs authorities and medical institutions at all levels. Business Model Evolution: From Sales of Testing Kit to SaaS Service. Moving forward, the Group will consolidate its existing diagnostic product portfolio while actively expanding service boundaries. The Group shall explore new models delivering "Intelligent Monitoring SaaS Platform" and "Data Insight Reporting Service" to governmental bodies, hospitals, customs authorities and other clients. This approach offers sustainability, replicability and scalability, enabling rapid adaptation to diverse infectious disease and chronic condition management scenarios. It facilitates a shift from "passive response" to "proactive prevention and control". Building upon this foundation, the Group envision leveraging the refined "AI Early Warning + rapid Diagnosis + Ecosystem Collaboration" capabilities honed through such incidents. The Group is committed to establishing an intelligent public public health prevention and control". The Group is committed to establish an intelligent public health prevention and control. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$2.01, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment deteriorates as stock falls 42% After last week's 42% share price decline to HK$2.22, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total returns to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$4.51, the stock trades at a trailing P/E ratio of 37.7x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total returns to shareholders of 163% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to HK$6.25, the stock trades at a trailing P/E ratio of 53.1x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total returns to shareholders of 258% over the past three years. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to HK$6.95, the stock trades at a trailing P/E ratio of 59x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$8.98, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 14x in the Healthcare industry in Hong Kong. Total returns to shareholders of 336% over the past three years. Reported Earnings • Sep 02
First half 2025 earnings released: EPS: CN¥0.024 (vs CN¥0.093 in 1H 2024) First half 2025 results: EPS: CN¥0.024 (down from CN¥0.093 in 1H 2024). Revenue: CN¥1.27b (down 6.2% from 1H 2024). Net income: CN¥39.1m (down 69% from 1H 2024). Profit margin: 3.1% (down from 9.3% in 1H 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 65% per year, which means it is well ahead of earnings. New Risk • Aug 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.7% Last year net profit margin: 8.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (5.7% net profit margin). Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$9.69, the stock trades at a trailing P/E ratio of 55.2x. Average trailing P/E is 14x in the Healthcare industry in Hong Kong. Total returns to shareholders of 363% over the past three years. Announcement • Aug 18
IVD Medical Holding Limited to Report First Half, 2025 Results on Aug 29, 2025 IVD Medical Holding Limited announced that they will report first half, 2025 results on Aug 29, 2025 Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to HK$7.84, the stock trades at a trailing P/E ratio of 44.6x. Average trailing P/E is 14x in the Healthcare industry in Hong Kong. Total returns to shareholders of 269% over the past three years. Board Change • Aug 01
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Jianlei Zhang was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Jul 21
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 13% 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 (13% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$2.44, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$2.08, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total loss to shareholders of 3.2% over the past three years. Announcement • Jun 06
IVD Medical Holding Limited, Annual General Meeting, Jun 30, 2025 IVD Medical Holding Limited, Annual General Meeting, Jun 30, 2025, at 12:00 China Standard Time. Location: 24/f., admiralty centre i, 18 harcourt road., Hong Kong Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$1.88, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total returns to shareholders of 7.9% over the past three years. Board Change • Apr 14
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 Patrick Wong was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Apr 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • Apr 01
IVD Medical Holding Limited to Report Fiscal Year 2024 Results on Apr 11, 2025 IVD Medical Holding Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Apr 11, 2025 New Risk • Mar 05
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 10.0% 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 (10.0% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$1.94, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$1.66, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 14x in the Healthcare industry in Hong Kong. Total loss to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to HK$1.57, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total loss to shareholders of 35% over the past three years. Reported Earnings • Sep 02
First half 2024 earnings released: EPS: CN¥0.093 (vs CN¥0.076 in 1H 2023) First half 2024 results: EPS: CN¥0.093 (up from CN¥0.076 in 1H 2023). Revenue: CN¥1.35b (down 1.7% from 1H 2023). Net income: CN¥125.3m (up 22% from 1H 2023). Profit margin: 9.3% (up from 7.5% in 1H 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Announcement • Aug 15
IVD Medical Holding Limited to Report First Half, 2024 Results on Aug 28, 2024 IVD Medical Holding Limited announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • Jul 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Upcoming Dividend • Jul 08
Upcoming dividend of HK$0.062 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 25 July 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 9.3%. Within top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.05, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total loss to shareholders of 64% over the past three years. New Risk • Jun 07
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 Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.33, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total loss to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.86, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total loss to shareholders of 26% over the past three years. New Risk • Apr 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$2.25, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 12x in the Healthcare industry in Hong Kong. Total returns to shareholders of 13% over the past three years. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: CN¥0.18 (vs CN¥0.16 in FY 2022) Full year 2023 results: EPS: CN¥0.18 (up from CN¥0.16 in FY 2022). Revenue: CN¥3.09b (up 12% from FY 2022). Net income: CN¥238.2m (up 13% from FY 2022). Profit margin: 7.7% (up from 7.6% 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 11% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 08
IVD Medical Holding Limited Announces Executive Changes The board of directors of IVD Medical Holding Limited announced that with effect from 8 March 2024 Mr. Yang Zhaoxu resigned as a non-executive Director due to his retirement, and Mr. Liu Fei has been appointed as a non-executive Director. Mr. Liu Fei, aged 37, has over a decade of working experience in research and development and in management. He joined Shinva Medical Instrument Co. Ltd. and a controlling shareholder of the Company under the Rules Governing the Listing of Securities on the Stock Exchange in July 2009. He served in different positions in Shinva, including working in the infection control business department from July 2009 to September 2018, as the factory head of the Oral Technology Factory of Shinva from September 2018 to December 2023. Since December 2023, he has been the general manager of the in vitro diagnostics business department of Shinva, the chairman of the board of directors of Changchun Bioxun Biotech Co. Ltd. the chairman of the board of directors and legal representative of Shandong Shinsun Biotechnology Co. Ltd. and a director of Beijing Wetech Biological and Technological Co. Ltd. Mr. Liu graduated from Qingdao University of Technology in China in June 2009, majoring in mechanical design, manufacturing and automation. He obtained the qualification of senior engineer in China in March 2021. Announcement • Mar 06
IVD Medical Holding Limited to Report Q4, 2023 Results on Mar 15, 2024 IVD Medical Holding Limited announced that they will report Q4, 2023 results on Mar 15, 2024 Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$2.15, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 14x in the Healthcare industry in Hong Kong. Total returns to shareholders of 14% over the past three years. Announcement • Jan 31
IVD Medical Holding Limited Announces Resignation of Sun Tao as a Non-Executive Director The board of directors of IVD Medical Holding Limited announced that the Company has received the resignation from Mr. Sun Tao as a non-executive Director with effect from 30 January 2024 due to his work adjustments. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.70, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 13x in the Healthcare industry in Hong Kong. Total loss to shareholders of 27% over the past three years. Buying Opportunity • Oct 05
Now 25% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be HK$1.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 27%. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$1.42, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 14x in the Healthcare industry in Hong Kong. Total loss to shareholders of 31% over the past three years. Upcoming Dividend • Aug 28
Upcoming dividend of HK$0.03 per share at 7.1% yield Eligible shareholders must have bought the stock before 04 September 2023. Payment date: 13 September 2023. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 7.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.2%). Announcement • Aug 22
IVD Medical Holding Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on September 13, 2023 IVD Medical Holding Limited announced interim dividend of HKD 0.0297 per share for the six months ended 30 June 2023. Ex-dividend date 04 September 2023, Record date 05 September 2023 and Payment date 13 September 2023. Reported Earnings • Aug 19
First half 2023 earnings released: EPS: CN¥0.076 (vs CN¥0.061 in 1H 2022) First half 2023 results: EPS: CN¥0.076 (up from CN¥0.061 in 1H 2022). Revenue: CN¥1.38b (up 17% from 1H 2022). Net income: CN¥103.0m (up 27% from 1H 2022). Profit margin: 7.5% (up from 6.9% 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 27% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Aug 19
IVD Medical Holding Limited Declares the Payment of an Interim Dividend for the Six Months Ended 30 June 2023, Expected to Be Paid on 6 September 2023 IVD Medical Holding Limited resolved to declare the payment of an interim dividend of HK2.970 cents (for the six months ended 30 June 2022: HK2.729 cents) per Share for the six months ended 30 June 2023 to the Shareholders whose names appear on the register of members of the Company at the close of business on the record date, being 25 August 2023 (Friday). In order to qualify for the interim dividend, all completed transfer documents accompanied by the relevant share certificates must be lodged for registration with the Company's Hong Kong branch share registrar, Tricor Investor Services Limited at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong not later than 4:30 p.m. on 25 August 2023 (Friday). The interim dividend will be paid in Hong Kong dollars, and is expected to be paid on 6 September 2023 (Wednesday). Announcement • Aug 18
IVD Medical Holding Limited Announces Board Changes The board of directors of IVD Medical Holding Limited announced that the following changes to the composition of the Board have taken effect on 17 August 2023: Mr. Chan Kwok King, Kingsley has resigned as a non-executive Director, due to his work adjustments; and Mr. Sun Tao has been appointed a non-executive Director. Mr. Sun, aged 44, has been employed by the Morgan Stanley group of companies since March 2007, and is currently employed by Morgan Stanley Asia Limited in the capacity of executive director in the private credit & equity division based in Hong Kong. He was conferred a bachelor's degree in Economics and a Master of Management from the University of International Business and Economics in China in July 2001 and June 2004, respectively. Announcement • Aug 09
IVD Medical Holding Limited to Report First Half, 2023 Results on Aug 18, 2023 IVD Medical Holding Limited announced that they will report first half, 2023 results on Aug 18, 2023 Upcoming Dividend • May 16
Upcoming dividend of HK$0.056 per share at 5.2% yield Eligible shareholders must have bought the stock before 23 May 2023. Payment date: 06 June 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$1.44, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 11x in the Healthcare industry in Hong Kong. Total loss to shareholders of 47% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: CN¥0.16 (vs CN¥0.13 in FY 2021) Full year 2022 results: EPS: CN¥0.16 (up from CN¥0.13 in FY 2021). Revenue: CN¥2.75b (flat on FY 2021). Net income: CN¥210.0m (up 20% from FY 2021). Profit margin: 7.6% (up from 6.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$1.07, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 16x in the Healthcare industry in Hong Kong. Total loss to shareholders of 68% over the past three years. Buying Opportunity • Mar 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be HK$1.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 40%. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$1.58, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 16x in the Healthcare industry in Hong Kong. Total loss to shareholders of 53% over the past three years. 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. 8 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Kevin Lau was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 
