Valuation Update With 7 Day Price Move • 21h
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$13.37, the stock trades at a trailing P/E ratio of 10.8x. Average forward P/E is 14x in the Media industry in Hong Kong. Total loss to shareholders of 85% over the past year. Reported Earnings • Apr 28
Full year 2025 earnings released: EPS: CN¥1.08 (vs CN¥8.40 loss in FY 2024) Full year 2025 results: EPS: CN¥1.08 (up from CN¥8.40 loss in FY 2024). Revenue: CN¥1.66b (up 24% from FY 2024). Net income: CN¥285.7m (up CN¥1.96b from FY 2024). Profit margin: 17% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Media industry in Hong Kong. Recent Insider Transactions • Apr 20
CEO & Executive Chairwoman recently sold HK$70m worth of stock On the 13th of April, Juehui Yin sold around 4m shares on-market at roughly HK$16.83 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Juehui has been a net seller over the last 12 months, reducing personal holdings by HK$126m. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$18.40, the stock trades at a trailing P/E ratio of 14.8x. Average forward P/E is 14x in the Media industry in Hong Kong. Total loss to shareholders of 83% over the past year. Recent Insider Transactions • Apr 07
CEO & Executive Chairwoman recently sold HK$34m worth of stock On the 30th of March, Juehui Yin sold around 873k shares on-market at roughly HK$39.50 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Juehui's only on-market trade for the last 12 months. Announcement • Mar 15
Qunabox Group Limited Announces Resignation of Chen Rui as Non-Executive Director, Effective from March 12, 2026 The board of directors of Qunabox Group Limited announced that the Company has received a letter of resignation from Mr. CHEN Rui (Mr. Chen), tendering his resignation from the office of a non-executive Director with effect from March 12, 2026, in order to devote more time to his personal matters. Mr. Chen 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 and The Stock Exchange of Hong Kong Limited. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: CN¥1.08 (vs CN¥8.40 loss in FY 2024) Full year 2025 results: EPS: CN¥1.08 (up from CN¥8.40 loss in FY 2024). Revenue: CN¥1.66b (up 24% from FY 2024). Net income: CN¥285.7m (up CN¥1.96b from FY 2024). Profit margin: 17% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Media industry in Hong Kong. Announcement • Mar 12
Qunabox Group Limited, Annual General Meeting, May 22, 2026 Qunabox Group Limited, Annual General Meeting, May 22, 2026. Announcement • Mar 02
Qunabox Group Limited to Report Fiscal Year 2025 Results on Mar 12, 2026 Qunabox Group Limited announced that they will report fiscal year 2025 results on Mar 12, 2026 Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to HK$19.38, the stock trades at a trailing P/E ratio of 15.1x. Average forward P/E is 15x in the Media industry in Hong Kong. Total loss to shareholders of 78% over the past year. Buy Or Sell Opportunity • Feb 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to HK$24.04. The fair value is estimated to be HK$31.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 62% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$27.94, the stock trades at a trailing P/E ratio of 22x. Average forward P/E is 16x in the Media industry in Hong Kong. Total loss to shareholders of 63% over the past year. New Risk • Jan 19
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 17% 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 (17% average weekly change). Minor Risk Large one-off items impacting financial results. Announcement • Jan 16
Qunabox Group Limited Provides Unaudited Consolidated Earnings Guidance for the Year Ended December 31, 2025 Qunabox Group Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2025. For the year, the group expects to record a turnaround and post a net profit for the Year in the range of RMB 270 million to RMB 330 million, as compared with a net loss of RMB 1,662.7 million for the year ended December 31, 2024. The turnaround from loss to profit was mainly attributable to several key factors: (i) the Group has continued to increase its long-term investment in research and development, with a particular focus on AI applications and intelligent interaction, building up solid and in-depth technological capabilities in these areas and driving the continuous enhancement of its terminal AI interactive marketing capabilities. At the same time, the mature application of such technological capabilities has effectively improved operating efficiency and delivery capacity, and has gradually contributed to the expansion of the Group's business scale, thereby supporting the steady growth of the Group's revenue and profit for the Year; and (ii) there was a non-cash one-time fair value loss of RMB 1,899.4 million arising from the conversion of the Group's convertible redeemable preferred shares into ordinary shares for the year ended December 31, 2024, while there was no such fair value loss for the Year. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$28.34, the stock trades at a trailing P/E ratio of 22.5x. Average forward P/E is 17x in the Media industry in Hong Kong. Total loss to shareholders of 57% over the past year. Buy Or Sell Opportunity • Dec 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 66% to HK$24.52. The fair value is estimated to be HK$30.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 62% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$25.20, the stock trades at a trailing P/E ratio of 20.3x. Average forward P/E is 17x in the Media industry in Hong Kong. Total loss to shareholders of 65% over the past year. New Risk • Dec 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% 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% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$31.00, the stock trades at a trailing P/E ratio of 25.1x. Average forward P/E is 18x in the Media industry in Hong Kong. Total loss to shareholders of 47% over the past year. Buy Or Sell Opportunity • Nov 03
Now 27% overvalued Over the last 90 days, the stock has fallen 64% to HK$38.70. The fair value is estimated to be HK$30.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 62% in 2 years. Earnings are forecast to grow by 64% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$46.48, the stock trades at a trailing P/E ratio of 37.9x. Average forward P/E is 18x in the Media industry in Hong Kong. Total returns to shareholders of 3.9% over the past year. Reported Earnings • Sep 20
First half 2025 earnings released: EPS: CN¥0.47 (vs CN¥13.71 loss in 1H 2024) First half 2025 results: EPS: CN¥0.47 (up from CN¥13.71 loss in 1H 2024). Revenue: CN¥676.2m (up 31% from 1H 2024). Net income: CN¥123.4m (up CN¥1.97b from 1H 2024). Profit margin: 18% (up from net loss in 1H 2024). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in Hong Kong. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$73.10, the stock trades at a trailing P/E ratio of 59.5x. Average trailing P/E is 19x in the Media industry in Hong Kong. Total returns to shareholders of 51% over the past year. Reported Earnings • Aug 18
First half 2025 earnings released: EPS: CN¥0.47 (vs CN¥13.71 loss in 1H 2024) First half 2025 results: EPS: CN¥0.47 (up from CN¥13.71 loss in 1H 2024). Revenue: CN¥676.2m (up 31% from 1H 2024). Net income: CN¥123.4m (up CN¥1.97b from 1H 2024). Profit margin: 18% (up from net loss in 1H 2024). Announcement • Aug 06
Qunabox Group Limited to Report First Half, 2025 Results on Aug 15, 2025 Qunabox Group Limited announced that they will report first half, 2025 results on Aug 15, 2025 Announcement • Jul 23
Qunabox Group Limited has completed a Follow-on Equity Offering in the amount of HKD 319.8 million. Qunabox Group Limited has completed a Follow-on Equity Offering in the amount of HKD 319.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,000,000
Price\Range: HKD 106.6
Transaction Features: Subsequent Direct Listing Announcement • Jul 16
Qunabox Group Limited has filed a Follow-on Equity Offering in the amount of HKD 319.8 million. Qunabox Group Limited has filed a Follow-on Equity Offering in the amount of HKD 319.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,000,000
Price\Range: HKD 106.6
Transaction Features: Subsequent Direct Listing Announcement • May 29
Qunabox Group Limited, Annual General Meeting, Jun 20, 2025 Qunabox Group Limited, Annual General Meeting, Jun 20, 2025, at 10:00 China Standard Time. Location: conference room, 17/f, wentong international plaza, 398 guiyang road, yangpu district, shanghai China Reported Earnings • Apr 17
Full year 2024 earnings released: CN¥8.40 loss per share (vs CN¥1.26 profit in FY 2023) Full year 2024 results: CN¥8.40 loss per share (down from CN¥1.26 profit in FY 2023). Revenue: CN¥1.34b (up 33% from FY 2023). Net loss: CN¥1.67b (down CN¥1.80b from profit in FY 2023). Reported Earnings • Mar 15
Full year 2024 earnings released: CN¥8.40 loss per share (vs CN¥1.26 profit in FY 2023) Full year 2024 results: CN¥8.40 loss per share (down from CN¥1.26 profit in FY 2023). Revenue: CN¥1.34b (up 33% from FY 2023). Net loss: CN¥1.67b (down CN¥1.80b from profit in FY 2023). Announcement • Feb 25
Qunabox Group Limited to Report Fiscal Year 2024 Results on Mar 10, 2025 Qunabox Group Limited announced that they will report fiscal year 2024 results on Mar 10, 2025 Announcement • Sep 20
Qunabox Group Limited Announces Change of Joint Company Secretaries Qunabox Group Limited announced that Ms. FUNG Po Ting has tendered her resignation as one of the joint company secretaries of the Company, an authorized representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the authorized person for the purpose of accepting service of process and notice on behalf of the Company in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and under Rule 19.05(2) of the Listing Rules and Mr. CHENG Xing has tendered his resignation as a Joint Company Secretary due to further adjustment of work allocation, both with effect from September 20, 2024. Following the resignation of Mr. Cheng as a Joint Company Secretary, Mr. Cheng will remain as the legal director of the Company and an assistant to the chairwoman of the Board. Each of Ms. Fung and Mr. Cheng has confirmed that she/he has no disagreement with the Board and that there is no matter relating to her/his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. Following the departure of Ms. Fung and the redesignation of duties of Mr. Cheng, the Company proposes to appoint (i) Ms. NG Sau Mei as the new Joint Company Secretary, Authorized Representative and Process Agent; and (ii) Ms. WANG Zan as the other new Joint Company Secretary, both with effect from September 20, 2024. The biographical details of Ms. Ng and Ms. Wang are set out below: Ms. Ng is the director and head of the Listing Services Department of TMF Hong Kong Limited and is responsible for provision of corporate secretarial and compliance services to listed company clients. She has over 20 years of experience in the company secretarial field and has extensive knowledge and experience in dealing with corporate governance, regulatory and compliance affairs of listed companies. Ms. Ng obtained a master's degree in laws from University of London and a bachelor's degree in laws from City University of Hong Kong. She is a Charted Secretary, a Chartered Governance Professional and a fellow member of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Ms. Wang joined the Group in July 2021, and currently serves as an assistant to the chief executive officer of the Company and the chairwomen of the Board. She is responsible for assisting the chief executive officer of the Company and chairwoman of the Board and providing daily support to the Board. She obtained her bachelor's degree in economics from the University of Minnesota, Twin Cities in the United States in December 2017. Reported Earnings • Sep 18
First half 2024 earnings released First half 2024 results: CN¥13.71 loss per share. Net loss: CN¥1.85b (flat on 1H 2023). Reported Earnings • Aug 17
First half 2024 earnings released First half 2024 results: CN¥13.71 loss per share. Net loss: CN¥1.85b (flat on 1H 2023). Announcement • Aug 06
Qunabox Group Limited to Report First Half, 2024 Results on Aug 15, 2024 Qunabox Group Limited announced that they will report first half, 2024 results on Aug 15, 2024 Announcement • Jun 06
Qunabox Group Limited, Annual General Meeting, Jun 28, 2024 Qunabox Group Limited, Annual General Meeting, Jun 28, 2024, at 11:00 China Standard Time. Location: conference room, 17/f, wentong international plaza, 398 guiyang road, yangpu district, shanghai China Board Change • May 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. 3 independent directors (5 non-independent directors). CEO & Executive Chairwoman Juehui Yin is the most experienced director on the board, commencing their role in 2013. Independent Non-Executive Director Lin Zhu was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 
