Buy Or Sell Opportunity • May 08
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to HK$0.30. The fair value is estimated to be HK$0.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • May 01
Upcoming dividend of CN¥0.035 per share Eligible shareholders must have bought the stock before 08 May 2026. Payment date: 08 June 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 13%. Within top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (1.2%). Reported Earnings • Apr 01
Full year 2025 earnings released: EPS: CN¥0.004 (vs CN¥0.039 in FY 2024) Full year 2025 results: EPS: CN¥0.004 (down from CN¥0.039 in FY 2024). Revenue: CN¥647.0m (up 1.9% from FY 2024). Net income: CN¥4.92m (down 89% from FY 2024). Profit margin: 0.8% (down from 6.9% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Mar 31
Pacific Online Limited, Annual General Meeting, May 05, 2026 Pacific Online Limited, Annual General Meeting, May 05, 2026. New Risk • Mar 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 204% Cash payout ratio: 143% Earnings have declined by 52% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (HK$352.0m market cap, or US$44.9m). Announcement • Mar 18
Pacific Online Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 Pacific Online Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 New Risk • Mar 10
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 9.9% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 204% Cash payout ratio: 143% Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (HK$352.0m market cap, or US$45.0m). Announcement • Jan 02
Pacific Online Limited Appoints Ms. Lee Kit Ying as Member of the Nomination Committee, Effective December 31, 2025 Pacific Online Limited announces that Ms. Lee Kit Ying, an independent non-executive director has been appointed as a member of the nomination committee of the Company with effect from December 31, 2025. Following the above change, the Nomination Committee comprises four members, namely Dr. Lam Wai Yan, Mr. Tsui Yiu Wa, Alec, Mr. Thaddeus Thomas Beczak and Ms. Lee Kit Ying. New Risk • Sep 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 204% Cash payout ratio: 152% Earnings have declined by 52% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (HK$442.8m market cap, or US$56.9m). Reported Earnings • Aug 31
First half 2025 earnings released: CN¥0.008 loss per share (vs CN¥0.009 profit in 1H 2024) First half 2025 results: CN¥0.008 loss per share (down from CN¥0.009 profit in 1H 2024). Revenue: CN¥272.9m (down 1.3% from 1H 2024). Net loss: CN¥8.57m (down 185% from profit in 1H 2024). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 203% Cash payout ratio: 152% Earnings have declined by 52% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (HK$407.9m market cap, or US$52.4m). Announcement • Aug 15
Pacific Online Limited to Report First Half, 2025 Results on Aug 27, 2025 Pacific Online Limited announced that they will report first half, 2025 results on Aug 27, 2025 Announcement • May 06
Pacific Online Limited Approves Final Dividend for the Year Ended 31 December 2024, Payable on 6 June 2025 Pacific Online Limited announced at its Annual General Meeting held on 6 May 2025, approved a final dividend of 4.5 RMB cents per share for the year ended 31 December 2024. The dividend will be paid on 6 June 2025 to the shareholders whose names appear on the register of members of the Company on 14 May 2025. Upcoming Dividend • May 02
Upcoming dividend of CN¥0.045 per share Eligible shareholders must have bought the stock before 09 May 2025. Payment date: 06 June 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 11%. Within top quartile of Hong Kong dividend payers (7.9%). Higher than average of industry peers (0.9%). Declared Dividend • Apr 02
Dividend of CN¥0.045 announced Shareholders will receive a dividend of CN¥0.045. Ex-date: 9th May 2025 Payment date: 6th June 2025 Dividend yield will be 10%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (286% earnings payout ratio) nor is it covered by cash flows (120% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 217% to bring the payout ratio under control. However, EPS has declined by 22% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: CN¥0.039 (vs CN¥0.029 loss in FY 2023) Full year 2024 results: EPS: CN¥0.039 (up from CN¥0.029 loss in FY 2023). Revenue: CN¥635.0m (down 14% from FY 2023). Net income: CN¥43.7m (up CN¥76.1m from FY 2023). Profit margin: 6.9% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. New Risk • Mar 28
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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 286% Dividend per share is over 25x cash flows per share. Earnings have declined by 57% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$505.2m market cap, or US$65.0m). Announcement • Mar 19
Pacific Online Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 Pacific Online Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 New Risk • Mar 03
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 Dividend is not well covered by earnings and cash flows. Payout ratio: 286% Dividend per share is over 25x cash flows per share. Earnings have declined by 57% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$459.8m market cap, or US$59.1m). Reported Earnings • Sep 03
First half 2024 earnings released: EPS: CN¥0.009 (vs CN¥0.034 loss in 1H 2023) First half 2024 results: EPS: CN¥0.009 (up from CN¥0.034 loss in 1H 2023). Revenue: CN¥276.4m (down 14% from 1H 2023). Net income: CN¥10.1m (up CN¥48.2m from 1H 2023). Profit margin: 3.7% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Aug 20
Pacific Online Limited to Report First Half, 2024 Results on Aug 29, 2024 Pacific Online Limited announced that they will report first half, 2024 results on Aug 29, 2024 Upcoming Dividend • May 01
Upcoming dividend of CN¥0.04 per share Eligible shareholders must have bought the stock before 08 May 2024. Payment date: 03 June 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 10%. Within top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (1.0%). Buy Or Sell Opportunity • Apr 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to HK$0.42. The fair value is estimated to be HK$0.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to HK$0.41. The fair value is estimated to be HK$0.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.9% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Mar 29
Dividend of CN¥0.04 announced Shareholders will receive a dividend of CN¥0.04. Ex-date: 8th May 2024 Payment date: 3rd June 2024 Dividend yield will be 8.7%, 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 and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Announcement • Mar 28
Pacific Online Limited, Annual General Meeting, May 03, 2024 Pacific Online Limited, Annual General Meeting, May 03, 2024. Agenda: To consider the payment of a final dividend for the year ended 31 December 2023. Reported Earnings • Mar 28
Full year 2023 earnings released: CN¥0.028 loss per share (vs CN¥0.006 loss in FY 2022) Full year 2023 results: CN¥0.028 loss per share (further deteriorated from CN¥0.006 loss in FY 2022). Revenue: CN¥740.1m (down 9.0% from FY 2022). Net loss: CN¥32.3m (loss widened 386% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Announcement • Mar 27
Pacific Online Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payment on June 3, 2024 Pacific Online Limited proposed a final dividend of RMB 0.04 per share for the year ended 31 December 2023. The ex-dividend date is on May 8, 2024, and the record date is on May 13, 2024. The payment date is on June 3, 2024. Announcement • Mar 16
Pacific Online Limited to Report Fiscal Year 2023 Results on Mar 27, 2024 Pacific Online Limited announced that they will report fiscal year 2023 results on Mar 27, 2024 Reported Earnings • Aug 30
First half 2023 earnings released: CN¥0.034 loss per share (vs CN¥0.009 loss in 1H 2022) First half 2023 results: CN¥0.034 loss per share (further deteriorated from CN¥0.009 loss in 1H 2022). Revenue: CN¥320.8m (down 13% from 1H 2022). Net loss: CN¥38.1m (loss widened 273% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Aug 18
Pacific Online Limited to Report First Half, 2023 Results on Aug 28, 2023 Pacific Online Limited announced that they will report first half, 2023 results on Aug 28, 2023 Announcement • May 13
Pacific Online Limited Declares A Final Dividend for the Year Ended 31 December 2022, Payable on 12 June 2023 Pacific Online Limited declared a final dividend of RMB 10 cents per share for the year ended 31 December 2022, at its AGM, held on 12 May 2023. Ex-dividend date is 17 May 2023. Record date is 22 May 2023. Payment date is 12 June 2023. Upcoming Dividend • May 10
Upcoming dividend of CN¥0.10 per share at 14% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 12 June 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 14%. Within top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (0.7%). Reported Earnings • Mar 28
Full year 2022 earnings released: CN¥0.006 loss per share (vs CN¥0.044 profit in FY 2021) Full year 2022 results: CN¥0.006 loss per share (down from CN¥0.044 profit in FY 2021). Revenue: CN¥813.7m (down 4.5% from FY 2021). Net loss: CN¥6.65m (down 113% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. 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. 1 experienced director. 5 highly experienced directors. Independent Non-Executive Director Ambrose Lam was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 02
First half 2022 earnings released: CN¥0.009 loss per share (vs CN¥0.035 profit in 1H 2021) First half 2022 results: CN¥0.009 loss per share (down from CN¥0.035 profit in 1H 2021). Revenue: CN¥368.8m (down 8.9% from 1H 2021). Net loss: CN¥10.2m (down 126% from profit in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Aug 18
Pacific Online Limited to Report First Half, 2022 Results on Aug 29, 2022 Pacific Online Limited announced that they will report first half, 2022 results on Aug 29, 2022 Announcement • Jul 28
Pacific Online Limited Provides Earnings Guidance for the Six Months Ended 30 June 2022 Pacific Online Limited provided earning guidance for the six months ended 30 June 2022. The board of directors of the Company informed the shareholders of the Company (the 'Shareholders') and potential investors that based on the information currently available to the Board, the Group is expected to record a net loss attributable to equity holders in the range of approximately RMB 10 million to RMB 15 million for the six months ended 30 June 2022 as compared to a net profit of approximately RMB 39 million for the corresponding period in 2021. The Board considers that the expected decrease was mainly attributable to (i) fair value loss of a passive equity investment of a fund, investing in internet related companies, block chain-related technologies companies and crypto currencies; and (ii) a continued downturn in marketing spend in automobile and electronics industries, the main source of revenue for the Group. Announcement • May 31
Pacific Online Limited Approves Dividend for the Year Ended December 31, 2021, Payable on 22 June 202 Pacific Online Limited announced at annual general meeting held on May 30, 2022, approved to declare a final dividend of 10.00 RMB cents pershare for the year ended 31 December 2021. Payment date is 22 June 2022. Record date is 08 June 2022. Ex-dividend date is 02 June 2022. Upcoming Dividend • May 26
Upcoming dividend of CN¥0.10 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 22 June 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 9.7%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (0.5%). 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. 1 experienced director. 5 highly experienced directors. Independent Non-Executive Director Ambrose Lam was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: CN¥0.044 (vs CN¥0.14 in FY 2020) Full year 2021 results: EPS: CN¥0.044 (down from CN¥0.14 in FY 2020). Revenue: CN¥852.2m (down 12% from FY 2020). Net income: CN¥49.9m (down 69% from FY 2020). Profit margin: 5.9% (down from 17% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 8% per year. Announcement • Nov 24
Pacific Online Limited Provides Earning Guidance for the Nine Months Ended 30 September 2021 Pacific Online Limited provides earning guidance for the nine months ended 30 September 2021. The Group is expected to record a net profit of approximately RMB 35 million for the Period as compared to a net profit of approximately RMB 99 million for the corresponding period in 2020, representing a decrease of approximately 65%. The expected result is primarily due to the global semiconductor chip shortage which reduced the marketing spending in automobile and electronics industries, the main source of revenue of the Group. Board Change • Nov 01
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. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Ambrose Lam was the last 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: Insufficient board refreshment. Reported Earnings • Sep 03
First half 2021 earnings released: EPS CN¥0.035 (vs CN¥0.033 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: CN¥405.0m (up 3.3% from 1H 2020). Net income: CN¥39.4m (up 5.6% from 1H 2020). Profit margin: 9.7% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • May 14
Upcoming dividend of CN¥0.13 per share Eligible shareholders must have bought the stock before 21 May 2021. Payment date: 07 June 2021. Trailing yield: 7.7%. Within top quartile of Hong Kong dividend payers (6.0%). Higher than average of industry peers (0.3%). Reported Earnings • Apr 18
Full year 2020 earnings released: EPS CN¥0.14 (vs CN¥0.14 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥967.5m (down 2.4% from FY 2019). Net income: CN¥161.9m (up 5.7% from FY 2019). Profit margin: 17% (up from 16% in FY 2019). Over the last 3 years on average, earnings per share has increased by 12% per year and the company’s share price has also increased by 12% per year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS CN¥0.14 (vs CN¥0.14 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CN¥967.5m (down 2.4% from FY 2019). Net income: CN¥161.9m (up 5.7% from FY 2019). Profit margin: 17% (up from 16% in FY 2019). Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year. Announcement • Mar 18
Pacific Online Limited to Report Fiscal Year 2020 Results on Mar 29, 2021 Pacific Online Limited announced that they will report fiscal year 2020 results on Mar 29, 2021 Is New 90 Day High Low • Jan 25
New 90-day high: HK$1.28 The company is up 22% from its price of HK$1.05 on 27 October 2020. The Hong Kong market is up 18% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Interactive Media and Services industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: HK$1.27 The company is up 19% from its price of HK$1.07 on 22 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: HK$1.21 The company is up 15% from its price of HK$1.05 on 04 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: HK$1.11 The company is up 2.0% from its price of HK$1.09 on 11 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 Interactive Media and Services industry, which is up 22% over the same period. Announcement • Sep 30
Pacific Online Limited to Report Fiscal Year 2019 Results on Mar 30, 2020 Pacific Online Limited announced that they will report fiscal year 2019 results at 7:15 PM, GMT Standard Time on Mar 30, 2020 Announcement • Aug 18
Pacific Online Limited to Report First Half, 2020 Results on Aug 27, 2020 Pacific Online Limited announced that they will report first half, 2020 results on Aug 27, 2020