New Risk • Dec 01
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% 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 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$425.5m market cap, or US$54.6m). Reported Earnings • Nov 29
First half 2026 earnings released: EPS: HK$0.003 (vs HK$0.01 in 1H 2025) First half 2026 results: EPS: HK$0.003 (down from HK$0.01 in 1H 2025). Revenue: HK$279.3m (down 23% from 1H 2025). Net income: HK$5.99m (down 70% from 1H 2025). Profit margin: 2.1% (down from 5.6% in 1H 2025). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Declared Dividend • Nov 28
First half dividend of HK$0.0047 announced Shareholders will receive a dividend of HK$0.0047. Ex-date: 9th December 2025 Payment date: 23rd December 2025 Dividend yield will be 3.4%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (10% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Announcement • Nov 14
Hypebeast Limited to Report First Half, 2026 Results on Nov 26, 2025 Hypebeast Limited announced that they will report first half, 2026 results on Nov 26, 2025 Announcement • Aug 26
Hypebeast Limited Approves Final Dividend for Full Year Ended 31 March 2025 Hypebeast Limited at its Annual General Meeting held on 26 August 2025, approved to declare a final dividend of HKD 0.0018 per ordinary share of the Company for the year ended 31 March 2025. Announcement • Jun 20
Hypebeast Limited Recommends Final Dividend for Full Year Ended 31 March 2025, Payable on 10 September 2025 Hypebeast Limited recommended the payment of a final dividend of HKD 0.0018 per ordinary share for full year ended 31 March 2025 (Fiscal year 2024: a final dividend of HKD 0.00359 per ordinary share and a special dividend of HKD 0.01063 per ordinary share). The Proposed Final Dividend is subject to the approval of shareholders of the Company at the annual general meeting of the Company to be held on 26 August 2025. The Proposed Final Dividend will be paid in cash on 10 September 2025 to the Shareholders whose names appear on the register of members of the Company at the close of business on 2 September 2025. Ex-dividend date of 29 August 2025. Reported Earnings • Jun 20
Full year 2025 earnings released: HK$0.01 loss per share (vs HK$0.011 profit in FY 2024) Full year 2025 results: HK$0.01 loss per share (down from HK$0.011 profit in FY 2024). Revenue: HK$666.5m (down 26% from FY 2024). Net loss: HK$21.0m (down 194% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Jun 19
Hypebeast Limited, Annual General Meeting, Aug 26, 2025 Hypebeast Limited, Annual General Meeting, Aug 26, 2025. Announcement • Jun 09
Hypebeast Limited to Report Fiscal Year 2025 Results on Jun 19, 2025 Hypebeast Limited announced that they will report fiscal year 2025 results on Jun 19, 2025 Reported Earnings • Nov 26
First half 2025 earnings released: EPS: HK$0.01 (vs HK$0.005 loss in 1H 2024) First half 2025 results: EPS: HK$0.01 (up from HK$0.005 loss in 1H 2024). Revenue: HK$360.5m (down 18% from 1H 2024). Net income: HK$20.2m (up HK$30.2m from 1H 2024). Profit margin: 5.6% (up from net loss in 1H 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Announcement • Nov 22
Hypebeast Limited Announces Interim Cash Dividend for the Six Months Ended 30 September 2024, Payable on 23 December 2024 Hypebeast Limited announced interim cash dividend of HKD 0.00179 per share for the six months ended 30 September 2024, payable on 23 December 2024. Record date is 11 December 2024. Ex-dividend date is 05 December 2024. Announcement • Nov 14
Hypebeast Limited to Report First Half, 2025 Results on Nov 22, 2024 Hypebeast Limited announced that they will report first half, 2025 results on Nov 22, 2024 Upcoming Dividend • Aug 12
Upcoming dividend of HK$0.014 per share Eligible shareholders must have bought the stock before 19 August 2024. Payment date: 10 September 2024. Trailing yield: 1.8%. Lower than top quartile of Hong Kong dividend payers (8.3%). Higher than average of industry peers (0.9%). Reported Earnings • Jun 29
Full year 2024 earnings released: EPS: HK$0.011 (vs HK$0.002 loss in FY 2023) Full year 2024 results: EPS: HK$0.011 (up from HK$0.002 loss in FY 2023). Revenue: HK$895.7m (down 6.7% from FY 2023). Net income: HK$22.3m (up HK$27.4m from FY 2023). Profit margin: 2.5% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 40% per year, which means it has not declined as severely as earnings. Announcement • Jun 28
Hypebeast Limited, Annual General Meeting, Aug 14, 2024 Hypebeast Limited, Annual General Meeting, Aug 14, 2024. New Risk • Jun 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. 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 Risks Earnings have declined by 15% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (HK$513.5m market cap, or US$65.8m). Announcement • Jun 18
Hypebeast Limited to Report Fiscal Year 2024 Results on Jun 27, 2024 Hypebeast Limited announced that they will report fiscal year 2024 results on Jun 27, 2024 Reported Earnings • Nov 24
First half 2024 earnings released: HK$0.005 loss per share (vs HK$0.031 loss in 1H 2023) First half 2024 results: HK$0.005 loss per share (improved from HK$0.031 loss in 1H 2023). Revenue: HK$440.0m (down 2.2% from 1H 2023). Net loss: HK$9.98m (loss narrowed 85% from 1H 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Announcement • Nov 11
Hypebeast Limited to Report First Half, 2024 Results on Nov 22, 2023 Hypebeast Limited announced that they will report first half, 2024 results on Nov 22, 2023 New Risk • Aug 17
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 13% 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 (13% average weekly change). Earnings have declined by 9.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$760.0m market cap, or US$97.1m). Reported Earnings • Jul 27
Full year 2023 earnings released: HK$0.002 loss per share (vs HK$0.049 profit in FY 2022) Full year 2023 results: HK$0.002 loss per share (down from HK$0.049 profit in FY 2022). Revenue: HK$960.0m (up 7.2% from FY 2022). Net loss: HK$5.07m (down 105% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Jul 26
Hypebeast Limited, Annual General Meeting, Aug 23, 2023 Hypebeast Limited, Annual General Meeting, Aug 23, 2023, at 15:30 China Standard Time. Location: B/F, The Vault, Spaces SunHouse, 90 Connaught Road Central Sheung Wan Hong Kong Agenda: To consider and receive the audited consolidated financial statements of the Company and the reports of the directors and auditor of the Company for the year ended 31 March 2023; to re-elect Mr. Ma Pak Wing Kevin as an executive director of the Company; to re-elect Ms. Poon Lai King as an independent non-executive director of the Company; to authorize the board of directors of the Company to fix the respective director's remuneration; to re-appoint Deloitte Touche Tohmatsu as auditor of the Company and to authorize the board of directors of the Company to fix the auditor's remuneration; and to consider other business matters. New Risk • Jun 28
New major risk - Revenue and earnings growth Earnings have declined by 9.3% 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 9.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$616.2m market cap, or US$78.7m). Reported Earnings • Jun 27
Full year 2023 earnings released: HK$0.002 loss per share (vs HK$0.049 profit in FY 2022) Full year 2023 results: HK$0.002 loss per share (down from HK$0.049 profit in FY 2022). Revenue: HK$960.0m (up 7.2% from FY 2022). Net loss: HK$5.07m (down 105% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Jun 17
Hypebeast Limited Provides Earnings Guidance for the Year Ended 31 March 2023 Hypebeast Limited provides earnings guidance for the year ended 31 March 2023. The Group is expected to record a decrease in profit before tax from approximately HKD 142.1 million for the year ended 31 March 2022 to no more than HKD 18.5 million for the year ended 31 March 2023 (the "Reporting Period"). Based on the information currently available to the Board, such expected decrease in profit before tax was mainly attributable to (i) the one-off professional fee related to the proposed merger with Iron Spark I Inc., which was subsequently terminated in December 2022; (ii) the increase in impairment losses on the intangible assets (primarily comprising cryptocurrency and NFT holdings) and various property, plant and equipment and right of use assets related to the e-commerce business of the Group; (iii) the loss on fair value changes of financial assets at fair value through profit and loss (primarily comprising investments in private company equity and other financial investments) as compared to a gain in the prior year; and (iv) the increase in selling and marketing expenses and the administrative and operating expenses as a result of business growth. New Risk • Jun 16
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: Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Market cap is less than US$100m (HK$688.1m market cap, or US$87.9m). Announcement • Jun 10
Hypebeast Limited to Report Fiscal Year 2023 Results on Jun 21, 2023 Hypebeast Limited announced that they will report fiscal year 2023 results on Jun 21, 2023 Reported Earnings • Nov 22
First half 2023 earnings released: HK$0.031 loss per share (vs HK$0.031 profit in 1H 2022) First half 2023 results: HK$0.031 loss per share (down from HK$0.031 profit in 1H 2022). Revenue: HK$450.0m (up 2.1% from 1H 2022). Net loss: HK$64.7m (down 203% from profit in 1H 2022). 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 28% per year, which means it is performing significantly worse than earnings. 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. 5 experienced directors. No highly experienced directors. Executive Director Janice Lee was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 10
Hypebeast Limited to Report First Half, 2023 Results on Nov 21, 2022 Hypebeast Limited announced that they will report first half, 2023 results on Nov 21, 2022 Board Change • Sep 28
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. 5 experienced directors. No highly experienced directors. Executive Director Janice Lee was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 28
Hypebeast Limited, Annual General Meeting, Aug 31, 2022 Hypebeast Limited, Annual General Meeting, Aug 31, 2022, at 14:30 China Standard Time. Location: B/F, The Vault, Spaces Sun House, 90 Connaught Road Central Sheung Wan Hong Kong Agenda: To consider and receive the audited consolidated financial statements of the company and the reports of the directors and auditor of the company for the year ended 31 March 2022; to re-elect Ms. Lee Yuen Tung Janice as an executive director of the company; to re-elect Mr. Wong Kai Chi as an independent non-executive director of the company; to authorize the board of directors of the company to fix the respective director's remuneration; to re-appoint Deloitte Touche Tohmatsu as auditor of the company and to authorize the board of directors of the Company to fix the auditor's remuneration; and to consider others. Reported Earnings • Jun 30
Full year 2022 earnings released Full year 2022 results: Revenue: HK$895.6m (up 33% from FY 2021). Net income: HK$100.2m (up 42% from FY 2021). Profit margin: 11% (in line with FY 2021). Announcement • Jun 18
Hypebeast Limited to Report Fiscal Year 2022 Results on Jun 29, 2022 Hypebeast Limited announced that they will report fiscal year 2022 results on Jun 29, 2022 Announcement • May 04
Hypebeast ADR to Be Deleted from Other OTC Hypebeast Limited American Depositary Receipts – Sponsored will be deleted from Other OTC effective from May 04, 2022, due to ADR /GDR Program Terminated. Board Change • Apr 27
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. 5 experienced directors. No highly experienced directors. Executive Director Janice Lee was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 41% share price gain to HK$1.13, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 10x in the Interactive Media and Services industry in Hong Kong. Total returns to shareholders of 36% over the past three years. Reported Earnings • Nov 29
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: HK$0.031 (up from HK$0.01 in 1H 2021). Revenue: HK$440.8m (up 54% from 1H 2021). Net income: HK$63.0m (up 202% from 1H 2021). Profit margin: 14% (up from 7.3% in 1H 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 18
Full year 2021 earnings released: EPS HK$0.035 (vs HK$0.033 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: HK$674.2m (down 10% from FY 2020). Net income: HK$70.6m (up 7.3% from FY 2020). Profit margin: 11% (up from 8.8% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 24
Full year 2021 earnings released: EPS HK$0.035 (vs HK$0.033 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: HK$674.2m (down 10% from FY 2020). Net income: HK$70.6m (up 7.3% from FY 2020). Profit margin: 11% (up from 8.8% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 27% share price gain to HK$1.12, the stock trades at a trailing P/E ratio of 38.4x. Average trailing P/E is 19x in the Interactive Media and Services industry in Hong Kong. Total returns to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 30% share price decline to HK$1.35, the stock is trading at a trailing P/E ratio of 46.2x, down from the previous P/E ratio of 66.4x. This compares to an average P/E of 21x in the Interactive Media and Services industry in Hong Kong. Total returns to shareholders over the past three years are 105%. Is New 90 Day High Low • Feb 12
New 90-day high: HK$1.68 The company is up 89% from its price of HK$0.89 on 13 November 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 27% over the same period. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 39% share price gain to HK$1.06, the stock is trading at a trailing P/E ratio of 36.3x, up from the previous P/E ratio of 26x. This compares to an average P/E of 15x in the Interactive Media and Services industry in Hong Kong. Total returns to shareholders over the past three years are 208%. Is New 90 Day High Low • Jan 26
New 90-day high: HK$0.96 The company is up 28% from its price of HK$0.75 on 28 October 2020. The Hong Kong market is up 21% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Interactive Media and Services industry, which is up 31% over the same period. Reported Earnings • Dec 03
First half 2021 earnings released: EPS HK$0.01 The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: HK$285.5m (down 29% from 1H 2020). Net income: HK$20.9m (down 24% from 1H 2020). Profit margin: 7.3% (up from 6.9% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 25
First half 2021 earnings released: EPS HK$0.01 The company reported a soft first half result with weaker earnings and revenues, although profit margins were improved. First half 2021 results: Revenue: HK$285.5m (down 29% from 1H 2020). Net income: HK$20.9m (down 24% from 1H 2020). Profit margin: 7.3% (up from 6.9% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 11
Hypebeast Limited to Report Q2, 2021 Results on Nov 23, 2020 Hypebeast Limited announced that they will report Q2, 2021 results on Nov 23, 2020 Is New 90 Day High Low • Nov 06
New 90-day high: HK$0.87 The company is up 30% from its price of HK$0.67 on 07 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 18% over the same period. 
