Reported Earnings • Feb 17
First half 2026 earnings released: HK$0.22 loss per share (vs HK$0.01 profit in 1H 2025) First half 2026 results: HK$0.22 loss per share (down from HK$0.01 profit in 1H 2025). Revenue: HK$46.2m (up 132% from 1H 2025). Net loss: HK$9.62m (down HK$9.96m from profit in 1H 2025). 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 9% per year, which means it is significantly lagging earnings. Announcement • Jan 30
Web3 Meta Limited to Report First Half, 2026 Results on Feb 13, 2026 Web3 Meta Limited announced that they will report first half, 2026 results on Feb 13, 2026 Board Change • Jan 14
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Executive Director Yuan Tian is the most experienced director on the board, commencing their role in 2017. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 11
Web3 Meta Limited Announces Board and Committee Changes Web3 Meta Limited announced that Mr. Chen Ce retired as an independent non-executive Director of the Company after conclusion of the 2025 AGM. Upon his retirement, Mr. Chen ceased to be the chairman of the audit committee and the Corporate Governance Committee and the member of the Remuneration Committee and the Nomination Committee with effect from the conclusion of the AGM. As at the date of this announcement, the Company has not received any notice of disagreement with the Board by Mr. Chen and the Board is not aware of any matter in relation to his retirement that needs to be brought to the attention of the Shareholders and the Stock Exchange. Following the retirement of Mr. Chen as the independent non-executive Director of the Company, the composition of the board committees has the following changes: Ms. Zhu Minli has been appointed as the chairlady of the Audit Committee and the Corporate Governance Committee and the member of the Nomination Committee and the Remuneration Committee; Mr. Zeng Jin has been appointed as the member of the Nomination Committee; and Ms. Zhu Xiaolin has been appointed as the chairlady of the Nomination Committee. New Risk • Nov 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 44% This is considered a major 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 Risk Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$139.0m market cap, or US$17.9m). Announcement • Nov 04
Web3 Meta Limited has completed a Follow-on Equity Offering in the amount of HKD 13.19424 million. Web3 Meta Limited has completed a Follow-on Equity Offering in the amount of HKD 13.19424 million.
Security Name: Subscription shares
Security Type: Common Stock
Securities Offered: 8,246,400
Price\Range: HKD 1.6 Announcement • Oct 30
Web3 Meta Limited, Annual General Meeting, Dec 10, 2025 Web3 Meta Limited, Annual General Meeting, Dec 10, 2025, at 10:00 China Standard Time. Location: 20/f, 93-103 wing lok street, Hong Kong New Risk • Oct 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$4.37m (US$562.4k) 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 Risk Market cap is less than US$10m (HK$4.37m market cap, or US$562.4k). 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). Reported Earnings • Sep 27
Full year 2025 earnings released: HK$0.028 loss per share (vs HK$0.031 profit in FY 2024) Full year 2025 results: HK$0.028 loss per share (down from HK$0.031 profit in FY 2024). Revenue: HK$44.5m (down 64% from FY 2024). Net loss: HK$20.3m (down 216% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Announcement • Sep 16
Web3 Meta Limited has filed a Follow-on Equity Offering in the amount of HKD 13.19424 million. Web3 Meta Limited has filed a Follow-on Equity Offering in the amount of HKD 13.19424 million.
Security Name: Subscription shares
Security Type: Common Stock
Securities Offered: 8,246,400
Price\Range: HKD 1.6 Announcement • Sep 12
Web3 Meta Limited to Report Fiscal Year 2025 Results on Sep 26, 2025 Web3 Meta Limited announced that they will report fiscal year 2025 results on Sep 26, 2025 New Risk • Aug 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$77.5m (US$9.91m) 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 Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (HK$77.5m market cap, or US$9.91m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Jun 24
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 Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Significant insider selling over the past 3 months (HK$3.9m sold). Market cap is less than US$100m (HK$95.7m market cap, or US$12.2m). New Risk • Mar 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 41% This is considered a major 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 Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (41% increase in shares outstanding). Market cap is less than US$10m (HK$70.1m market cap, or US$9.02m). Announcement • Mar 11
Web3 Meta Limited has completed a Follow-on Equity Offering in the amount of HKD 9.6208 million. Web3 Meta Limited has completed a Follow-on Equity Offering in the amount of HKD 9.6208 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 137,440,000
Price\Range: HKD 0.07
Transaction Features: Subsequent Direct Listing Reported Earnings • Feb 27
First half 2025 earnings released: EPS: HK$0 (vs HK$0.004 in 1H 2024) First half 2025 results: EPS: HK$0 (down from HK$0.004 in 1H 2024). Revenue: HK$20.0m (down 80% from 1H 2024). Net income: HK$343.0k (down 81% from 1H 2024). Profit margin: 1.7% (in line with 1H 2024). New Risk • Feb 21
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). High level of non-cash earnings (116% accrual ratio). Market cap is less than US$10m (HK$59.8m market cap, or US$7.69m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Announcement • Feb 20
Web3 Meta Limited has filed a Follow-on Equity Offering in the amount of HKD 9.6208 million. Web3 Meta Limited has filed a Follow-on Equity Offering in the amount of HKD 9.6208 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 137,440,000
Price\Range: HKD 0.07
Transaction Features: Subsequent Direct Listing Announcement • Feb 17
Web3 Meta Limited Announces Board Changes Web3 Meta Limited announced that on or about 14 February 2025, the Company received a notice and a supplemental notice from Web3 Group Limited (``Web3 Group'') requesting the board accordance with Article 64 of the articles of association of the Company (the Articles'') for the purpose of considering and, if thought fit, passing the following resolutions as ordinary resolutions of the Company (the Requisition''): Mr. Zeng Jin be and is hereby removed as an executive director of the Company (the Director'') with effect upon passing of this resolution. Ms. Tian Yuan be and is hereby removed as an executive Director with effect upon passing of this resolution. THAT Mr. Chen Ce be and is hereby removed as an independent non-executive Director with effect upon passing of this resolution. Ms. Zhu Minli be and is hereby removed as an independent non-executive Director with effect upon passing of this resolution. Ms. Zhu Xiaolin be and is hereby removed as an independent non-executive Director with effect upon passing of this resolution. Announcement • Feb 07
Web3 Meta Limited to Report First Half, 2025 Results on Feb 28, 2025 Web3 Meta Limited announced that they will report first half, 2025 results on Feb 28, 2025 Board Change • Feb 05
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Minli Zhu was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Jan 22
Web3 Meta Limited Announces Directorate Changes The Board of Web3 Meta Limited announced that Ms. Zhu Minli and Ms. Zhu Xiaolin have been appointed as the Independent Non-executive Directors of the Company with effect from 20 January 2025. Ms. Zhu Minli, aged 43, was appointed as an Independent Non-executive Director with effect from 20 January 2025. She currently serves as an assistant to the executive president of Jilin Changbaishan Private Equity Fund Management Co. Ltd. Previously, Ms. Zhu Minli has served as the director of risk control of Beijing Jixin Huijin Fund Management Company Limited, a risk control manager of Haitong Jihe Private Equity Investment Fund Management Company Limited, and a department manager of Ruihua China CPAs. Ms. Zhu Minli has been engaged in investment management for many years, mainly responsible for the risk management and control of investment projects, the establishment and continuous improvement of corporate internal control systems, and the supervision of effective implementation of internal control mechanisms. Ms. Zhu Minli also has many years of experience in financial auditing. During her tenure, she was responsible for the auditing of a number of well-known companies, and possessed comprehensive and solid accounting knowledge and financial analysis capability. Ms. Zhu Minli is a certified public accountant of China and a qualified fund practitioner. Ms. Zhu Minli holds a bachelor's degree in management from Changchun University, major in financial management. Ms. Zhu Xiaolin, aged 34, was appointed as an Independent Non-executive Director of the Company with effect from 20 January 2025, she holds a bachelor degree in Law from East China University of Political Science and Law and a master degree of Laws from University of California, Berkeley School of Law. She is currently the legal counsel of BWI Group since 2023 and had worked for a number of international law firms. Ms. Zhu Xiaolin has over ten years extensive practical experience in handling cross-border M&A, PE/VC transactions, capital markets (Mainland China and Hong Kong Stock Exchange) and general corporate affairs. The Board announces that Mr. Lam, Anthony Tze Cheung has resigned as Independent Non-executive Director of the Company due to his other business engagement with effect from 20 January 2025. Mr. Lam also resigned as the chairman of both the nomination committee and the remuneration committee, and a member of both the audit committee and the corporate governance committee of the Company. Mr. Lam has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. Following the appointment of Ms. Zhu Minli as the Independent Non-executive Director of the Company, Ms. Zhu Minli has been appointed as the member of Audit Committee and Corporate Governance Committee and the chairlady of Remuneration Committee and Nomination Committee of the Company with effect from 20 January 2025; and Following the appointment of Ms. Zhu Xiaolin as the Independent Non-executive Director of the Company, Ms. Zhu Xiaolin has been appointed as the member of Audit Committee, Remuneration Committee, Nomination Committee and Corporate Governance Committee of the Company with effect from 20 January 2025. New Risk • Jan 13
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 Risks High level of non-cash earnings (116% accrual ratio). Market cap is less than US$10m (HK$56.4m market cap, or US$7.24m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Board Change • Dec 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Anthony Lam 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. Announcement • Nov 26
Web3 Meta Limited Announces Retirement of Jiang Ying as Independent Non-Executive Director and Member for Each of the Audit Committee, the Remuneration Committee, the Nomination Committee and the Corporate Governance Committee On 26 November 2024, the Board of Web3 Meta Limited received a notice of retirement from Ms. Jiang Ying (Ms. Jiang), an independent non-executive Director, that she will retire from office upon the conclusion of the AGM due to her plans to devote more time to other commitments. Ms. Jiang confirmed that she will not offer herself for re-election at the AGM. Accordingly, Ms. Jiang will also cease to be the member for each of the audit committee, the remuneration committee, the nomination committee and the corporate governance committee with effect from the conclusion of the AGM. New Risk • Nov 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 116% 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 Risks High level of non-cash earnings (116% accrual ratio). Market cap is less than US$10m (HK$58.4m market cap, or US$7.51m). Minor Risk Shareholders have been diluted in the past year (35% increase in shares outstanding). Announcement • Oct 28
Million Stars Holdings Limited, Annual General Meeting, Nov 27, 2024 Million Stars Holdings Limited, Annual General Meeting, Nov 27, 2024, at 10:00 China Standard Time. Location: room 720, 7/f, tower a, new mandarin plaza, 14 science museum road, tsim sha tsui east, kowloon Hong Kong Reported Earnings • Sep 27
Full year 2024 earnings released: EPS: HK$0.031 (vs HK$0.061 loss in FY 2023) Full year 2024 results: EPS: HK$0.031 (up from HK$0.061 loss in FY 2023). Revenue: HK$124.5m (up 78% from FY 2023). Net income: HK$17.5m (up HK$47.5m from FY 2023). Profit margin: 14% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Announcement • Sep 25
Million Stars Holdings Limited Provides Earnings Guidance for the Year Ended 30 June 2024 Million Stars Holdings Limited provided earnings guidance for the year ended 30 June 2024. For the year, the company expects to record a profit attributable to owners of the Company ranging from approximately HKD 13 million to HKD 18 million for the year ended 30 June 2024, as compared to the loss attributable to owners of the Company of approximately HKD 30 million for the year ended 30 June 2023 (``FY2023''). The aforesaid expected increase in profit attributable to owners of the Company for FY2024 as compared to FY2023 was mainly attributable to the reversal of expected credit allowance in FY2024 as a result of the Group's enhanced credit policy and active negotiation of recoveries. Announcement • Sep 12
Million Stars Holdings Limited to Report Fiscal Year 2024 Results on Sep 26, 2024 Million Stars Holdings Limited announced that they will report fiscal year 2024 results on Sep 26, 2024 Board Change • Jun 11
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 Anthony Lam 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. Announcement • Jun 05
Million Stars Holdings Limited Announces Appointment of Executive Directors, Change of Chairman of the Board Andchange of Compliance Officer The board of directors of Million Stars Holdings Limited announces that Mr. Zeng Jin and Ms. Liu Qin have been appointed as the executive directors of the Company with effect from 4 June 2024. Mr. Zeng Jin, aged 50, obtained his double bachelor's degrees in polymer science and computer software from East China University of Science and Technology in Shanghai, China in July 1997 and master's degree in business administration from Donghua University in Shanghai, China in June 2008. He served as a department manager, assistant to the general manager, deputy general manager, senior vice president, and secretary to the board in Krone Communications (Shanghai) Co. Ltd. Shanghai Trayton Furniture Co. Ltd., Morris Group Co. Ltd. and China Floors Lumber (China) Co. Ltd. He has extensive experience in corporate operation and management. From March 2016 to June 2021, he served as an executive director of Morris Holdings Limited and was appointed as a senior vice president and the head of production and quality management. He currently serves as the deputy general manager of Shanghai Xinzhen International Trade Co. Ltd. Ms. Liu Qin, aged 45, graduated from the School of Law, Tsinghua University in 2009 with a master's degree and passed the National Judicial Examination with a lawyer's license. She worked at Jingtian & Gongcheng in Beijing, Ping An Securities and China Merchants Securities, and is currently a partner of Guangdong Jinxian Law Firm. She is skilled and experienced with over 20 years of engagement in businesses related to the capital market, including non-performing assets disposal, negotiation, settlement, debt disputes, debt risk isolation, company law, investment and financing services, and provision of long-term legal advice to enterprises. Mr. Zeng Jin has been appointed as the Chairman of the Board of the Company with effect from 4 June 2024 and Mr. Gan Xiaohua and Ms. Tian Yuan have ceased to be the co- chairman of the Board of the Company following the appointment of Mr. Zeng. Each of Mr. Gan and Ms. Tian will continue to serve as an executive Director of the Company. The Company hereby would like to take this opportunity to express its sincere gratitude and respect to Mr. Gan and Ms. Tian for their contributions during their tenure of service as the co-chairman of the Board and also to welcome Mr. Zeng to the new role. Mr. Zeng Jin has been appointed as the compliance officer of the Company with effect from 4 June 2024 and Ms. Tian Yuan has ceased to be the compliance officer of the Company following the appointment of Mr. Zeng. New Risk • Apr 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$78.3m (US$10.00m) 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (HK$78.3m market cap, or US$10.00m). Minor Risk Shareholders have been diluted in the past year (41% increase in shares outstanding). Announcement • Mar 30
Million Stars Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 12.7 million. Million Stars Holdings Limited has completed a Follow-on Equity Offering in the amount of HKD 12.7 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 101,600,000
Price\Range: HKD 0.125
Transaction Features: Subsequent Direct Listing Announcement • Mar 13
Million Stars Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 12.7 million. Million Stars Holdings Limited has filed a Follow-on Equity Offering in the amount of HKD 12.7 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 101,600,000
Price\Range: HKD 0.125
Transaction Features: Subsequent Direct Listing Reported Earnings • Feb 27
Second quarter 2024 earnings released: EPS: HK$0.024 (vs HK$0.015 loss in 2Q 2023) Second quarter 2024 results: EPS: HK$0.024 (up from HK$0.015 loss in 2Q 2023). Revenue: HK$38.9m (up 468% from 2Q 2023). Net income: HK$12.4m (up HK$19.7m from 2Q 2023). Profit margin: 32% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. 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 23% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Million Stars Holdings Limited to Report Second Half, 2023 Results on Feb 26, 2024 Million Stars Holdings Limited announced that they will report second half, 2023 results on Feb 26, 2024 Announcement • Jan 11
Million Stars Holdings Limited Announces Board Changes The board of directors of Million Stars Holdings Limited announced that Ms. Zhu Minli has resigned as independent non-executive director of the Company due to her other business engagement with effect from 11 January 2024. Ms. Zhu also resigned as the chairlady of both the nomination committee and the remuneration committee, and a member of both the audit committee and the corporate governance committee of the Company. The Board would like to announce that Mr. Lam, Anthony Tze Cheung has been appointed as an independent non-executive director with effect from 11 January 2024. Mr. Lam aged 36, graduated from King's College London with a Bachelor of Laws degree. He was admitted to the New York State bar in March 2017. He worked as a registered foreign lawyer at Eversheds Sutherland and a legal associate at Nu Skin Enterprises Hong Kong, LLC. Mr. Lam is currently the legal counsel of CFL Holding Limited. Following the resignation of Ms. Zhu, Mr. Lam is appointed as the chairman of both the nomination committee and the remuneration committee of the Company with effect from 11 January 2024. Following the resignation of Ms. Zhu, Mr. Lam is appointed as a member of both the audit committee and the corporate governance committee of the Company with effect from 11 January 2024. Announcement • Nov 17
Million Stars Holdings Limited Announces Retirement of Zhu Yongjun as Executive Director Million Stars Holdings Limited announced that at its AGM held on November 16, 2023 as the proposed ordinary resolution numbered 3(a) for the re-election of Mr. Zhu Yongjun as Director was not passed at the AGM, Mr. Zhu retired as an executive Director with effect from the conclusion of the AGM accordingly. The Board is not aware of any disagreement with Mr. Zhu and any matter relating to the Retirement that needs to be brought to the attention of the Shareholders and the Stock Exchange. Reported Earnings • Nov 14
First quarter 2024 earnings released: HK$0.021 loss per share (vs HK$0.014 loss in 1Q 2023) First quarter 2024 results: HK$0.021 loss per share (further deteriorated from HK$0.014 loss in 1Q 2023). Revenue: HK$60.1m (up HK$60.1m from 1Q 2023). Net loss: HK$10.6m (loss widened 53% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 28
Million Stars Holdings Limited to Report Q1, 2024 Results on Nov 13, 2023 Million Stars Holdings Limited announced that they will report Q1, 2024 results on Nov 13, 2023 Announcement • Oct 07
Million Stars Holdings Limited, Annual General Meeting, Nov 16, 2023 Million Stars Holdings Limited, Annual General Meeting, Nov 16, 2023, at 11:00 China Standard Time. Location: Room 720, 7/F, Tower A, New Mandarin Plaza 14 Science Museum Road, Tsim Sha Tsui East Kowloon Hong Kong Agenda: To receive the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors (the Directors and the independent auditors of the Company for the year ended 30 June 2022; to receive the audited consolidated financial statements of the Company and its subsidiaries and the reports of the Directors and the independent auditors of the Company for the year ended 30 June 2023; to re-elect the Mr. Zhu Yongjun as an executive Director; to re-elect Mr. Chen Ce as an independent non-executive Director; to authorise the board (the ``Board'') of Directors to fix the Directors' remuneration; and to consider other business matters. New Risk • Oct 05
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$26m 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$26m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 62% per year over the past 5 years. Market cap is less than US$10m (HK$62.5m market cap, or US$7.98m). Minor Risk Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Reported Earnings • Sep 30
Full year 2023 earnings released: HK$0.061 loss per share (vs HK$0.21 loss in FY 2022) Full year 2023 results: HK$0.061 loss per share (improved from HK$0.21 loss in FY 2022). Revenue: HK$70.0m (up 51% from FY 2022). Net loss: HK$30.0m (loss narrowed 70% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Announcement • Sep 19
Million Stars Holdings Limited to Report Fiscal Year 2023 Results on Sep 29, 2023 Million Stars Holdings Limited announced that they will report fiscal year 2023 results at 4:00 PM, China Standard Time on Sep 29, 2023 New Risk • Aug 11
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$138m 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$138m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 66% per year over the past 5 years. Market cap is less than US$10m (HK$58.9m market cap, or US$7.54m). Minor Risks Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (HK$32m revenue, or US$4.1m). New Risk • Jul 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$75.7m (US$9.68m) 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 66% per year over the past 5 years. Market cap is less than US$10m (HK$75.7m market cap, or US$9.68m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-HK$138m). Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Revenue is less than US$5m (HK$32m revenue, or US$4.1m). Reported Earnings • May 15
Third quarter 2023 earnings released: HK$0.011 loss per share (vs HK$0.033 loss in 3Q 2022) Third quarter 2023 results: HK$0.011 loss per share (improved from HK$0.033 loss in 3Q 2022). Revenue: HK$23.4m (up HK$23.4m from 3Q 2022). Net loss: HK$6.59m (loss narrowed 58% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 29% per year. Reported Earnings • Feb 15
Second quarter 2023 earnings released: HK$0.016 loss per share (vs HK$0.067 loss in 2Q 2022) Second quarter 2023 results: HK$0.016 loss per share (improved from HK$0.067 loss in 2Q 2022). Revenue: HK$6.85m (down 70% from 2Q 2022). Net loss: HK$7.28m (loss narrowed 77% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Announcement • Feb 14
Million Stars Holdings Limited Provides Earning Guidance for the Six Period Ended 31 December 2022 Million Stars Holdings Limited provided earning guidance for the six period ended 31 December 2022. The board of directors of the Company informed the shareholders of the Company and potential investors that based onthe preliminary review of the unaudited financial results of the Group for the six months period ended 31 December 2022, the Group is expected to record a loss of approximately HKD 14.2 million (the ``Expected Loss''), decreased by approximately 47.2% compared with the expected loss of approximately HKD 26.9 million for the six months period ended 31 December 2021. Based on the information available, the Expected Loss was mainly attributable to: The recurrent COVID-19 pandemic in mainland China and changes in digital asset policies resulted in a significant decrease in the Group's revenue from overseas internet advertising business, and no revenue was recorded from the digital assets business. The Group's online and offline advertising channels in mainland China and the project of multi-functional advertising equipment are still under construction and in the stage of investment and havenot generated substantial income. This is expected to bring sustainable and stable income from the third quarter. Announcement • Feb 03
Million Stars Holdings Limited to Report First Half, 2023 Results on Feb 14, 2023 Million Stars Holdings Limited announced that they will report first half, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
First quarter 2023 earnings released: HK$0.014 loss per share (vs HK$0.011 profit in 1Q 2022) First quarter 2023 results: HK$0.014 loss per share (down from HK$0.011 profit in 1Q 2022). Revenue: HK$45.0k (down 100% from 1Q 2022). Net loss: HK$6.92m (down 239% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Nov 15
Million Stars Holdings Limited to Report Fiscal Year 2022 Results on Nov 30, 2022 Million Stars Holdings Limited announced that they will report fiscal year 2022 results at 9:30 AM, China Standard Time on Nov 30, 2022 Announcement • Nov 12
Million Stars Holdings Limited Provides Earnings Guidance for the Three Months Period Ended 30 September 2022 Million Stars Holdings Limited provided earnings guidance for the three months period ended 30 September 2022. The group is expected to record a loss of approximately HKD 6.9 million (the Expected Loss), compared with a profit of approximately HKD 5 million recorded for the three months period 30 September 2021. Announcement • Nov 02
Million Stars Holdings Limited to Report Q1, 2023 Final Results on Nov 11, 2022 Million Stars Holdings Limited announced that they will report Q1, 2023 final results on Nov 11, 2022 Reported Earnings • Sep 27
Third quarter 2022 earnings released: EPS: HK$0 (vs HK$0.004 loss in 3Q 2021) Third quarter 2022 results: EPS: HK$0. Revenue: HK$21.0k (down 100% from 3Q 2021). Net loss: HK$15.7m (loss widened HK$14.2m from 3Q 2021).