New Risk • Jul 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 24% 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 (24% average weekly change). Market cap is less than US$10m (HK$68.7m market cap, or US$8.77m). Announcement • May 22
DevGreat Group Limited, Annual General Meeting, Jun 23, 2026 DevGreat Group Limited, Annual General Meeting, Jun 23, 2026, at 14:30 China Standard Time. Location: suite 2701-08, 27/f., shui on centre, 6-8 harbour road, wanchai., Hong Kong New Risk • Apr 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (HK$69.6m market cap, or US$8.89m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Mar 28
Full year 2025 earnings released: HK$0.46 loss per share (vs HK$5.60 loss in FY 2024) Full year 2025 results: HK$0.46 loss per share (improved from HK$5.60 loss in FY 2024). Revenue: HK$183.0m (down 11% from FY 2024). Net loss: HK$78.1m (loss narrowed 91% from FY 2024). 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 • Mar 13
DevGreat Group Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 DevGreat Group Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 New Risk • Sep 28
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$58m 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$58m free cash flow). Market cap is less than US$10m (HK$75.0m market cap, or US$9.64m). 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 28
First half 2025 earnings released: HK$0.10 loss per share (vs HK$3.83 loss in 1H 2024) First half 2025 results: HK$0.10 loss per share (improved from HK$3.83 loss in 1H 2024). Revenue: HK$51.4m (down 50% from 1H 2024). Net loss: HK$16.4m (loss narrowed 97% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. New Risk • Aug 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$77.7m (US$9.96m) 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$77.7m market cap, or US$9.96m). 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 • Aug 29
First half 2025 earnings released: HK$0.10 loss per share (vs HK$3.83 loss in 1H 2024) First half 2025 results: HK$0.10 loss per share (improved from HK$3.83 loss in 1H 2024). Revenue: HK$51.4m (down 50% from 1H 2024). Net loss: HK$16.4m (loss narrowed 97% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Announcement • Aug 15
DevGreat Group Limited to Report First Half, 2025 Results on Aug 26, 2025 DevGreat Group Limited announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Jun 28
DevGreat Group Limited Announces Board Retirement DevGreat Group Limited at its AGM held on June 27, 2025, announced that Mr. Wang Letian ("Mr. Wang"), Ms. Wang Zheng ("Ms. Wang") and Mr. Guo Haomiao ("Mr. Guo") would retire at the AGM in accordance with the Bye-laws. As the Resolutions for re-election of Mr. Wang, Ms. Wang and Mr. Guo were not passed by the Shareholders at the AGM, Mr. Wang has retired as executive Director, Ms. Wang and Mr. Guo have retired as non-executive Directors with effect from the conclusion of the AGM (the "Retirement"). Following the Retirement, Mr. Wang also retired as each of the members of the remuneration committee and nomination committee of the Board. Announcement • Jun 26
DevGreat Group Limited Announces Resignation of Huang Yuhui as Executive Director and Chairman and Chairman of the Nomination Committee DevGreat Group Limited announced that Mr. Huang Yuhui desires to devote more time to his personal endeavours, Mr. Huang submitted a written resignation to the Board to resign as the executive Director and chairman of the Company (‘Chairman’), the chairman of the nomination committee of the Board and the authorised representative (‘Authorised Representative’) of the Company under Rule 3.05 of the Listing Rules, with effect from 25 June 2025. Mr. Huang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation as Described above that needs to be brought to the attention of the shareholders of the Company (the ‘Shareholders’) or the Stock Exchange. Reference is made to the circular of the Company dated 29 May 2025, pursuant to which it was stated that Mr. Huang will retire at the annual general meeting of the Company to be held on 27 June 2025 (the ‘AGM’). As a result of the resignation of Mr. Huang with effect from 25 June 2025, Mr. Huang will no longer be subject for re-election at the AGM and resolution numbered 2A(i) as set forth in the notice of AGM of the Company dated 29 May 2025 (‘Notice’) and the forms of proxy of the Company (the ‘Proxy Forms’) in relation to the re-election of Mr. Huang as an executive Director will be withdrawn. New Risk • Jun 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$75.9m (US$9.67m) 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 (48% average weekly change). Market cap is less than US$10m (HK$75.9m market cap, or US$9.67m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • May 29
DevGreat Group Limited, Annual General Meeting, Jun 27, 2025 DevGreat Group Limited, Annual General Meeting, Jun 27, 2025, at 14:30 China Standard Time. Location: suite 2701-08, 27/f., shui on centre, 6-8 harbour road., wanchai Hong Kong New Risk • Apr 16
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 48% 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 (48% average weekly change). Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$146.4m market cap, or US$18.9m). New Risk • Apr 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (HK$58.9m market cap, or US$7.59m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Reported Earnings • Mar 30
Full year 2024 earnings released: HK$5.60 loss per share (vs HK$0.60 profit in FY 2023) Full year 2024 results: HK$5.60 loss per share (down from HK$0.60 profit in FY 2023). Revenue: HK$204.7m (down 46% from FY 2023). Net loss: HK$832.4m (down HK$921.9m from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Board Change • Mar 25
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non-Executive Director Yuzhou Wang was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 19
DevGreat Group Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 DevGreat Group Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 New Risk • Mar 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$1.64m (US$210.6k) 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 16
Now 642% overvalued after recent price rise Over the last 90 days, the stock has risen 5,163% to HK$1.00. The fair value is estimated to be HK$0.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 94% over the last 3 years. Meanwhile, the company became loss making. Announcement • Oct 19
Fortunate Omen (HK) Limited completed the acquisition of Ample Century/Auto Win Investment/Best East Developments/Giant Hope Investments from Shanghai Zendai Property Limited (SEHK:755). Fortunate Omen (HK) Limited entered into memorandum of understanding to acquire Ample Century/Auto Win Investment/Best East Developments/Giant Hope Investments from Shanghai Zendai Property Limited (SEHK:755) on June 7, 2024. Fortunate Omen (HK) Limited agreed to acquire Ample Century/Auto Win Investment/Best East Developments/Giant Hope Investments from Shanghai Zendai Property Limited (SEHK:755) for HKD 11 million on July 26, 2024. Under the terms of agreement, (i) the Company has conditionally agreed to sell, and the Purchaser has conditionally agreed to acquire, the Sale Shares; and (ii) the Company has also conditionally agreed to assign the Debts to the Purchaser, at the total Consideration of approximately HKD 11 million (equivalent to CNY 10,000,000), payable by the Purchaser in cash upon Completion. The Consideration was determined after arm’s length negotiations between the Company and the Purchaser having considered (i) the loss-making financial results of the Disposal Group in recent years; (ii) the unaudited combined net liabilities attributable to owners of equity of the Disposal Group of approximately HKD 1,039.0 million as at 31 May 2024; and (iii) the valuation of the Properties as at 31 May 2024 as preliminarily appraised by the Valuer at approximately HKD 3,163.6 million (equivalent to CNY 2,876.6 million) in aggregate (the “Valuation”). Following Completion, the Group will have disposed of the non-performing and distressed assets together with the associated Borrowings. As a result, the interest-bearing borrowings of the Remaining Group will be substantially reduced to around HKD 218.5 million only and not secured by any of the Remaining Group’s assets. The Sale Shares represent the entire issued share capital of each of the Disposal Targets, being: Principal assets of the Disposal Group are the Properties, being (a) two shop units (being used as supermarket area), 25 retail shop units, a hotel and 475 car parking spaces of the Shanghai Zendai Thumb Plaza; (b) a shopping mall with underground car parking spaces and a hotel of the Qingdao Zendai Thumb Plaza; (c) 216 shop units and a parcel of land of the Yangzhou Project; (d) a shop unit and 81 car parking spaces of the Xizhen Project; (e) a parcel of land of the Yantai Project; and (f) 190, 50 and 115 car parking spaces of the Zendai Wu Dao Kou Financial Center, the Zendai Quantland and the Zendai Cube Tower respectively, held by various entities within the Disposal Group. It is expected that the liquidity and financial position of the Remaining Group will be improved and that the Remaining Group will be better positioned to ride out the current difficult business environment to continue its property development, property rental and property management and operation businesses. As of part of transaction, Board proposes to (i) change the official registered English name of the Company from “Shanghai Zendai Property Limited” to “DevGreat Group Limited”. Upon Completion, members of the Disposal Group shall cease to be subsidiaries of the Company. Accordingly, their results, assets and liabilities will no longer be consolidated into the financial statements of the Group. For the year ending December 31, 2023, Ample Century/Auto Win Investment/Best East Developments/Giant Hope Investments had revenue of HKD 202 million and net income of HKD -44 million.
Completion is conditional upon the satisfaction or waiver (as the case may be) of the following Conditions: (i) the Disposal having been approved by the Board; (ii) the Disposal having been approved by the Shareholders at the SGM; (iii) the Company and the Disposal Group having obtained all the necessary written consents, approvals or waivers from third parties for the Disposal. Completion shall take place within 10 calendar days upon the satisfaction or waiver (as the case may be) of the Conditions. The Company intends to apply the net proceeds from the Disposal (after deducting all related expenses) of approximately HKD7.9 million as general working capital for the business development of the Remaining Group.
Fortunate Omen (HK) Limited completed the acquisition of Ample Century/Auto Win Investment/Best East Developments/Giant Hope Investments from Shanghai Zendai Property Limited (SEHK:755) on October 18, 2024. Reported Earnings • Sep 01
First half 2024 earnings released: HK$0.038 loss per share (vs HK$0.013 loss in 1H 2023) First half 2024 results: HK$0.038 loss per share (further deteriorated from HK$0.013 loss in 1H 2023). Revenue: HK$102.8m (down 47% from 1H 2023). Net loss: HK$569.9m (loss widened 205% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Announcement • Aug 15
Shanghai Zendai Property Limited to Report First Half, 2024 Results on Aug 27, 2024 Shanghai Zendai Property Limited announced that they will report first half, 2024 results on Aug 27, 2024 New Risk • Jul 31
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 Interest payments are not well covered by earnings (0.8x net interest cover). Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (24% net profit margin). Market cap is less than US$100m (HK$208.3m market cap, or US$26.7m). Announcement • May 23
Shanghai Zendai Property Limited, Annual General Meeting, Jun 24, 2024 Shanghai Zendai Property Limited, Annual General Meeting, Jun 24, 2024, at 14:30 China Standard Time. Location: suite 2701-08, 27/f, shui on centre, 6-8 harbour road, wanchai, Hong Kong New Risk • Mar 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 24% Last year net profit margin: 727% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (24% net profit margin). Market cap is less than US$100m (HK$193.4m market cap, or US$24.7m). Announcement • Mar 27
Shanghai Zendai Property Limited Announces Board Changes The board of directors of Shanghai Zendai Property Limited announced that, Mr. Huang Jiawei has resigned as the non-executive Director of the Company due to his resignation from the Fosun Group with effect from 26 March 2024. The Board announces that, with effect from 26 March 2024, Mr. Guo Haomiao ("Mr. Guo") has been appointed as the non-executive Director of the Company. Mr. Guo Haomiao, aged 32, was appointed as a non-executive Director on 26 March 2024. Mr. Guo graduated from Tongji University in 2017 with a master's degree in Engineering. Mr. Guo joined the Fosun Group in October 2019. He is currently the senior investment director of Greater China investment management department of Fosun Hive, and is responsible for the investment management of property-related business of Fosun Group. Prior to joining the Fosun Group, Mr. Guo served as the investment manager of CIFI Holdings (Group) Co. Ltd. from 2017 to 2019 and he engaged in investment works. Mr. Chen has been absent from the meetings of the Board for more than six consecutive months since August 2022 and up to the date of this announcement, without special leave of absence from the Board and no alternate director has attended in his place. The Board has been unable to get into contact with Mr. Chen as well. Article 89(3) of the Bye-laws provides that "the office of a Director shall be vacated if the Director . without special leave of absence from the Board, is absent from meetings of the Board for six consecutive months, and his alternate Director, if any, shall not during such period have attended in his stead and the Board resolves that his office be vacated ." Based on the reason as set out above, the office of Mr. Chen as an independent non-executive Director of the Company has been vacated on 26 March 2024 by resolution of the Board (the "Resolution") in accordance with the Bye-laws. Upon the passing of the Resolution, Mr. Chen has ceased to be a member and the chairman of the remuneration committee of the Board ("Remuneration Committee"), a member of the nomination committee of the Board ("Nomination Committee") and a member of the audit committee of the Board with immediate effect. During Mr. Chen's absence, his work had been covered by other independent non-executive Directors and his absence has had no impact on the Company's normal course of business. The Board meetings were also conducted smoothly during Mr. Chen's absence. Accordingly, the Company does not consider the mere fact that Mr. Chen being uncontactable would constitute an inside information of the Company pursuant to the inside information provisions (the "Inside Information Provisions" (as defined in the Listing Rules)) under Part XIVA of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong and Rule 13.09 of the Listing Rules. Saved as disclosed above, to the best of the Directors' knowledge, information and belief and having made all reasonable enquiries, the Board is not aware of any disagreement between Mr. Chen and the Board or any matters that need to be brought to the attention of the Shareholders and there is no other matters that need to be announced pursuant to the Inside Information Provisions. The Board also considers that the vacation of the office of Mr. Chen as an independent non-executive Director of the Company will not have any adverse effect on the operations of the Group. Following the vacation of the office of Mr. Chen as an independent non-executive Director, the Board now comprises four executive Directors, three non-executive Directors and four independent non-executive Directors. The Board announces the following changes in composition of Board committees, effect from 26 March 2024: (1) Mr. Cao Hailiang has been appointed as the chairman of Remuneration Committee; (2) Dr. Lin Xinzhu has been appointed as a member of Remuneration Committee and a member of Nomination Committee. Announcement • Mar 15
Shanghai Zendai Property Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 Shanghai Zendai Property Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 New Risk • Sep 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 215% 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 Debt is not well covered by operating cash flow (4.1% operating cash flow to total debt). High level of non-cash earnings (215% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$208.3m market cap, or US$26.6m). Reported Earnings • Aug 26
First half 2023 earnings released: HK$0.013 loss per share (vs HK$0.032 loss in 1H 2022) First half 2023 results: HK$0.013 loss per share (improved from HK$0.032 loss in 1H 2022). Revenue: HK$194.9m (flat on 1H 2022). Net loss: HK$187.1m (loss narrowed 60% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Aug 25
Shanghai Zendai Property Limited Announces Change of Non-Executive Directors The board of directors of Shanghai Zendai Property Limited announces that, Mr. Cui Di has resigned as the non-executive Director of the Company due to his resignation from the Fosun Group with effect from 24 August 2023. The Board announces that, with effect from 24 August 2023, Mr. Zou Yang ("Mr. Zou") has been appointed as the non-executive Director of the Company. The biographical detail of Mr. Zou is as follows: Mr. Zou Yang, aged 36, was appointed as a non-executive Director on 24 August 2023. Mr. Zou graduated from Renmin University of China in 2014 with a master's degree in management. Mr. Zou joined the Fosun Group in March 2021 and is currently the Senior Vice President, Chief Investment Officer (CIO) and General Manager of the Investment Management Department of Greater China in Fosun Hive, responsible for the business promotion and implementation of the investment line of Hive AMC and the asset operation line (bulk exit). Prior to joining the Fosun Group, Mr. Zou was a vice president and senior partner of China Fortune Land Development Co. Ltd. (whose shares are listed on the Shanghai Stock Exchange (stock code: 600340.SH)) from 2014 to 2021, and worked at China CYTS Tours Holding Co. Ltd. (whose shares are listed on the Shanghai Stock Exchange from 2009 to 2012, engaging in marketing, strategic investment and channel development, and was the youngest grassroots manager. Mr. Zou has many years of management experience in traditional real estate, industrial real estate and other fields. Announcement • Aug 20
Shanghai Zendai Property Limited Provides Group Earnings Guidance for the Six Months Ended 30 June 2023 Shanghai Zendai Property Limited provided Group earnings guidance for the six months ended 30 June 2023. The board (the "Board") of directors (the "Directors") of the Company informed shareholders and investors of the Company that the Group is expected to record a reduction of loss attributable to owners of the Company for the six months ended 30 June 2023 (the "Reporting Period") as compared to the loss attributable to owners of the Company for the six months ended 30 June 2022 (the "Prior Reporting Period"). Based on the preliminary review of the management accounts of the Group and information currently available to the Company, the anticipated decrease in loss attributable to owners of the Company for the Reporting Period is mainly attributable to (i) a decrease in administration expenses and selling and marketing expenses of approximately 50% and 35% respectively as compared to the Prior Reporting Period; and (ii) a reduction in finance costs of approximately 25% during the Reporting Period as compared to the Prior Reporting Period. As a result, the loss attributable to owners of the Company for the Reporting Period is expected to reduce by approximately 50% as compared to the loss attributable to owners of the Company for the Prior Reporting Period. Announcement • Aug 16
Shanghai Zendai Property Limited to Report First Half, 2023 Results on Aug 24, 2023 Shanghai Zendai Property Limited announced that they will report first half, 2023 results on Aug 24, 2023 New Risk • Aug 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (77% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (HK$252.9m market cap, or US$32.4m). Announcement • Jun 17
Shanghai Zendai Property Limited Announces Executive Changes Shanghai Zendai Property Limited announced that, Mr. He Haiyang has resigned as an executive Director due to his intention to devote more time to his own business with effect from 16 June 2023. The board announced that, with effect from 16 June 2023, Mr. Long Tianyu ("Mr. Long") has been appointed as an executive Director of the Company. The biographical details of Mr. Long are as follows: Mr. Long Tianyu, aged 38, was appointed as an executive Director on 16 June 2023. Mr. Long graduated from the Southwestern University of Finance and Economics of the PRC in 2007 with a bachelor's degree in business administration. Mr. Long obtained the Chartered Financial Analyst certification in 2013. Mr. Long joined China Orient Asset Management (International) Holding Limited since February 2022 and currently serves as the head and executive director of its special investment opportunities department (Division III). Mr. Long served as the head of the business department and the executive general manager of Dong Yin Development (Holdings) Limited ("Dong Yin Development (Holdings)") from January 2019 to January 2022, the head of the investment department of Dong Yin Development (Holdings) from July 2014 to December 2018, the project manager of the investment business department of Dongyin Industrial (Shenzhen) Co. Ltd. from March 2012 to June 2014 and a staff member of the Chongqing Liangjiang New Area Branch of the Agricultural Bank of China from July 2007 to September 2011. Mr. Long has not entered into any service contract or contract of employment with the Company and is not appointed for a specific term or any proposed length of service. He is also subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the bye-laws of the Company. The emolument of Mr. Long payable by the Company for his services as an executive Director is zero, which is determined by mutual agreement between the Company and Mr. Long upon recommendation by the remuneration committee of the Board. Announcement • May 25
Shanghai Zendai Property Limited, Annual General Meeting, Jun 26, 2023 Shanghai Zendai Property Limited, Annual General Meeting, Jun 26, 2023, at 14:30 China Standard Time. Location: 10/F, United Centre, 95 Queensway Admiralty Hong Kong Agenda: To consider and adopt the audited financial statements and the reports of the directors and auditors for the year ended 31 December 2022; to re-elect the following directors of the Company: Mr. Huang Yuhui as executive Director; Mr. Wang Letian as executive Director; Mr. Cui Di as non-executive Director; Mr. Huang Jiawei as non-executive Director; Dr. Guan Huanfei as independent non-executive Director; Dr. Lin Xinzhu as independent non-executive Director; to authorise the board of Directors to fix the remuneration of the Directors; to re-appoint PKF Hong Kong Limited, certified public accountants, as the auditors of the Company and to authorise the board of Directors to fix their remuneration; and to consider other matters. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: HK$0.19 (vs HK$0.14 loss in FY 2021) Full year 2022 results: EPS: HK$0.19 (up from HK$0.14 loss in FY 2021). Revenue: HK$396.6m (down 47% from FY 2021). Net income: HK$2.88b (up HK$4.95b from FY 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. 5 independent directors (7 non-independent directors). Non-Executive Director Zheng Wang is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Yuzhou Wang was the last independent director to join the board, commencing their role in 2021. 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. Board Change • Oct 13
Less than half of directors are independent There are 11 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. 5 independent directors (7 non-independent directors). Non-Executive Director Zheng Wang is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Yuzhou Wang was the last independent director to join the board, commencing their role in 2021. 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. Announcement • Aug 25
Shanghai Zendai Property Limited Announces Resignation of Zhang Zelin as Chief Executive Officer The board of directors of Shanghai Zendai Property Limited announced that Mr. Zhang Zelin has tendered his resignation as a chief executive officer of the Group due to other business commitments, with effect from 19 August 2022. Mr. Zhang has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company. Announcement • Aug 20
Shanghai Zendai Property Limited Provides Earnings Guidance for the Six Months Ending June 30, 2022 Shanghai Zendai Property Limited provided earnings guidance for the six months ending June 30, 2022. For the period, the company expects to record a increase of loss attributable to owners of the Company for the six months ended 30 June 2022 as compared to the loss attributable to owners of the Company for the six months ended 30 June 2021 (the Prior ReportingPeriod). Based on the preliminary review of the management accounts of the Group and information currently available to the Company, the anticipated increase in loss attributable to owners of the Company is mainly attributable to a decline in revenue and gross profit of approximately 55% and 37% respectively due to a decrease in properties being delivered and recognized as revenue during the Reporting Period as compared to the revenue and gross profit during the Prior Reporting Period; and a significant decrease in gains on disposal of an investment property of approximately 99% during the Reporting Period as compared to thePrior Reporting Period. As a result, the loss attributable to owners of the Company for the Reporting Period is expected to increase by approximately 37% as compared to the loss attributable to owners of the Company for the Prior Reporting Period. Announcement • Aug 16
Shanghai Zendai Property Limited to Report First Half, 2022 Results on Aug 25, 2022 Shanghai Zendai Property Limited announced that they will report first half, 2022 results on Aug 25, 2022 Announcement • Jul 14
Shanghai Zendai Property Limited Announces Address Change of Its Hong Kong Office Shanghai Zendai Property Limited announced the new Registered Office address is Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda with effect from 12 July 2022. Announcement • Jul 01
Shanghai Zendai Property Limited Announces Change of Non-Executive Directors The board of directors of Shanghai Zendai Property Limited announced that with effect from 30 June 2022: 1. Mr. Ma Yun (Harrison) ("Mr. Ma") has resigned as a non-executive Director of the Company due to his resignation from the Fosun Group; and 2. Mr. Wu Junao (Alfred) ("Mr. Wu") has resigned as a non-executive Director of the Company due to internal management and work needs of the Fosun Group. The Board announces that, with effect from 30 June 2022: 1. Mr. Cui Di ("Mr. Cui") has been appointed as a non-executive Director of the Company; and 2. Mr. Huang Jiawei (Gavy) ("Mr. Huang") has been appointed as a non-executive Director of the Company. Mr. Cui, aged 45, graduated from Peking University in 2006 with a master of science degree. Mr. Cui joined Fosun Group in January 2020. He is currently the global partner of Fosun Group and the general manager of Greater China investment management department of Fosun Hive, who is responsible for the investment management of property-related business of Fosun Group. Prior to joining Fosun Group, Mr. Cui served as the vice president of Huaxia Happiness Foundation Co. Ltd. from 2015 to 2019. During his service for China Vanke Co. Ltd. from 2006 to 2015, he engaged in market research, operation, investment and other multi-module work, and served as the investment leaders of the Beijing and Qingdao office of China Vanke Co. Ltd. He has many years of management experience in traditional real estate, industrial real estate and other fields. Mr. Huang, aged 43, graduated from Tongji University in 2002 with a bachelor's degree in engineering. He graduated from University College London in 2004 with a Master of Science degree. Mr. Huang joined Fosun Group in September 2018. He is currently the assistant to the president of Fosun Hive and the general manager of Greater China operation management department, and is responsible for the operation management and asset management of property-related business of Fosun Group. Prior to joining Fosun Group, Mr. Huang held various positions in China Resources Land Limited from April 2011 to August 2018 at such levels as headquarters, regional and city companies. Mr. Huang has nearly 20 years of rich experience in property development and operation and asset management. Announcement • May 24
Shanghai Zendai Property Limited, Annual General Meeting, Jun 23, 2022 Shanghai Zendai Property Limited, Annual General Meeting, Jun 23, 2022, at 10:00 China Standard Time. Location: 10/F, United Centre, 95 Queensway Admiralty Hong Kong Agenda: To consider and adopt the audited financial statements and the reports of the directors and auditors for the year ended 31 December 2021; to consider reelection of directors; to re-appoint PKF Hong Kong Limited, certified public accountants, as the auditors of the Company and to authorise the board of Directors to fix their remuneration; and to consider other matters. Board Change • Apr 27
Less than half of directors are independent There are 11 new directors who have joined the board in the last 3 years. Of these new board members, 5 were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. 5 independent directors (7 non-independent directors). Non-Executive Director Zheng Wang is the most experienced director on the board, commencing their role in 2017. Independent Non-Executive Director Yuzhou Wang was the last independent director to join the board, commencing their role in 2021. 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. Reported Earnings • Mar 31
Full year 2021 earnings released: HK$0.14 loss per share (vs HK$0.077 loss in FY 2020) Full year 2021 results: HK$0.14 loss per share (down from HK$0.077 loss in FY 2020). Revenue: HK$741.0m (down 84% from FY 2020). Net loss: HK$2.07b (loss widened 80% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Executive Departure • Oct 06
Independent Non-Executive Director Chi Wen Chu has left the company On the 30th of September, Chi Wen Chu's tenure as Independent Non-Executive Director ended after less than a year in the role. We don't have any record of a personal shareholding under Chi Wen's name. A total of 8 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Sep 03
First half 2021 earnings released: HK$0.023 loss per share (vs HK$0.031 loss in 1H 2020) The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were weaker. First half 2021 results: Revenue: HK$430.8m (down 1.3% from 1H 2020). Net loss: HK$342.1m (loss narrowed 27% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Executive Departure • May 07
Company Secretary has left the company On the 1st of May, Ngan Hung Wong's tenure as Company Secretary ended after 9.3 years in the role. We don't have any record of a personal shareholding under Ngan Hung's name. A total of 8 executives have left over the last 12 months. Reported Earnings • Apr 02
Full year 2020 earnings released: HK$0.077 loss per share (vs HK$0.071 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: HK$4.60b (up 241% from FY 2019). Net loss: HK$1.15b (loss widened 8.8% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Announcement • Mar 24
Shanghai Zendai Property Limited Provides Earnings Guidance for the Year Ended December 31, 2020 Shanghai Zendai Property Limited provided earnings guidance for the year ended December 31, 2020. For the period, the group expects to record an increase in loss attributable to owners of the company for the year ended December 31, 2020 of about 10%, as compared to the loss attributable to owners of the company for the year ended December 31, 2019. Based on a preliminary review of the management accounts of the group and information currently available to the company, the group expects to record a substantial increase in the group 's turnover of about 240% due to an increase in properties being delivered and recognized as revenue during the reporting period. Due to a substantial increase in income tax and land appreciation tax provided for the reporting period in accordance with the increase in delivery of properties, the loss after taxation for the reporting period is expected to increase of about 10% as compared to the prior year. Announcement • Mar 20
Shanghai Zendai Property Limited to Report Fiscal Year 2020 Results on Mar 31, 2021 Shanghai Zendai Property Limited announced that they will report fiscal year 2020 results on Mar 31, 2021 Announcement • Jan 16
Shanghai Zendai Property Limited Announces Change of Chief Executive Officer Shanghai Zendai Property Limited announced that Mr. He Haiyang has resigned as the chief executive officer of the Company and Mr. Zhang Zelin has been appointed as the CEO. Mr. He 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 holders of securities of the Company or The Stock Exchange of Hong Kong Limited. Mr. He will continue to act as an executive Director of the company. Mr. Zhang, aged 46, graduated from Harbin Institute of Technology with a bachelor's degree in industrial and civil construction in June 1996 and obtained a master in business administration degree from Nankai University in 2010. Announcement • Jan 12
Shanghai Zendai Property Limited Announces Board Changes Shanghai Zendai Property Limited announced that Mr. Qin Renzhong has resigned as an executive Director due to the internal management and change of work needs of the group of China Orient Asset Management (International) Holding Limited; Mr. Tang Jian has resigned as an executive Director due to restructuring of the Board; Dr. Xu Changsheng has resigned as an independent non-executive Director, members of the nomination committee of the Board ("Nomination Committee"), the remuneration committee of the Board ("Remuneration Committee") and the audit committee of the Board ("Audit Committee") due to restructuring of the Board; Mr. Ng Man Kung has resigned as an independent non-executive Director, a member and the chairman of the Remuneration Committee, and members of the Nomination Committee and the Audit Committeedue to restructuring of the Board; Mr. How Sze Ming has resigned as an independent non-executive Director, a member and the chairman of the Audit Committee and a member of the Remuneration Committee due to restructuring of the Board; and Dr. Di Ruipeng has resigned as an independent non-executive Director, and members of the Nomination Committee, the Remuneration Committee and the Audit Committee due to restructuring of the Board. The Board also announces that with effect from 11 January 2021, Mr. Huang Yuhui and Ms. Li Zhen have been appointed as executive Directors. Announcement • Nov 26
Zendai Property Limited Announces Change in Composition of Board Committees The board of directors of Shanghai Zendai Property Limited (the ‘Company’) announced that (i) Mr. Ng Man Kung has been appointed as the chairman of the remuneration committee of the Board (the ‘Remuneration Committee’) and (ii) Dr. Xu Changsheng has been appointed as a member of the nomination committee of the Board (the ‘Nomination Committee’), a member of the Remuneration Committee, and a member of the audit committee of the Board (the ‘Audit Committee’), all with effect from 25 November 2020. Announcement • Nov 03
Shanghai Zendai Property Limited (SEHK:755) acquired a 20% stake in Richtex Holdings Limited from China Orient Asset Management Co., Ltd. for CNY 200 million. Shanghai Zendai Property Limited (SEHK:755) acquired a 20% stake in Richtex Holdings Limited from China Orient Asset Management Co., Ltd. for CNY 200 million on November 2, 2020.
Shanghai Zendai Property Limited (SEHK:755) completed the acquisition of a 20% stake in Richtex Holdings Limited from China Orient Asset Management Co., Ltd. on November 2, 2020. Announcement • Oct 07
Shanghai Zendai Property Limited Passes Chow Alexander Yue Nong as an Independent Non-Executive Director, the Chairman and A Member of the Remuneration Committee and A Member of Nomination Committee and Audit Committee of the Board The board of directors of Shanghai Zendai Property Limited announced that Mr. Chow Alexander Yue Nong, an independent non-executive director, the chairman and a member of the remuneration committee and a member of nomination committee and audit committee of the Board, passed away on 5 October 2020. Reported Earnings • Sep 25
First half earnings released Over the last 12 months the company has reported total losses of HK$1.06b, with losses widening by 6.7% from the prior year. Total revenue was HK$790.5m over the last 12 months, down 83% from the prior year. Announcement • Aug 22
Shanghai Zendai Property Limited to Report First Half, 2020 Results on Aug 28, 2020 Shanghai Zendai Property Limited announced that they will report first half, 2020 results on Aug 28, 2020