Announcement • Aug 20
Grand Baoxin Auto Group Limited to Report First Half, 2025 Results on Nov 28, 2025 Grand Baoxin Auto Group Limited announced that they will report first half, 2025 results on Nov 28, 2025 Announcement • Jun 30
Grand Baoxin Auto Group Limited Announces Board Changes, Effective June 30, 2025 The board of directors of Grand Baoxin Auto Group Limited hereby announced that Ms. LIU Wenji (Ms. LIU) has resigned as an independent non-executive Director, the chairlady of each of the audit committee and the remuneration committee and a member of the nomination committee of the Company with effect from 30 June 2025 due to her other work commitments. The Board hereby announced that Mr. HUANG Kai has been appointed as the chairman of each of the audit committee and the remuneration committee and a member of the nomination committee of the Company with effect from 30 June 2025. Announcement • Jun 19
Grand Baoxin Auto Group Limited to Report Fiscal Year 2024 Final Results on Aug 29, 2025 Grand Baoxin Auto Group Limited announced that they will report fiscal year 2024 final results at 4:00 PM, China Standard Time on Aug 29, 2025 Board Change • Apr 12
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Wenji Liu is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Kai Huang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Mar 18
Grand Baoxin Auto Group Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Grand Baoxin Auto Group Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 New Risk • Jan 13
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 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 (16% average weekly change). Earnings have declined by 47% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$567.5m market cap, or US$72.9m). Announcement • Dec 30
Grand Baoxin Auto Group Limited Announces Board and Committee Changes Grand Baoxin Auto Group Limited announced changes with effect from 30 December 2024 Mr. Ho Hung Tim Chester ("Mr. Ho") has resigned as an independent non-executive Director and a member of the audit committee of the Board (the "Audit Committee") as he wishes to devote more time to his personal commitments; and Mr. Huang Kai ("Mr. Huang") has been appointed as an independent non-executive Director and a member of the Audit Committee. Mr. Huang, aged 44, has over 20 years of experience in accounting and auditing, corporate governance, and capital markets in mainland China and Hong Kong. From August 2003 to January 2007, he was a senior auditor in the audit department at the Shanghai branch of Ernst & Young Hua Ming LLP. From January 2007 to August 2008, he was a senior consultant in the corporate mergers and acquisition department at PricewaterhouseCoopers Consultants (Shenzhen) Ltd. From September 2008 to May 2009, he served as the senior manager of the capital operation management department at China Resources Microelectronics Limited, a company previously listed on the Stock Exchange (previous stock code: 0597) and currently listed on Shanghai Stock Exchange (SSE stock code: 688396). From May 2009 to July 2011, he was the director of the investment management center at China Rongsheng Heavy Industries Group Holding Limited (currently known as China Huarong Energy Company Limited), a company listed on the Stock Exchange (stock code: 1101). From July 2011 to March 2013, he served as the deputy general manager of the treasury department at Sinopacific Shipbuilding Group Co. Ltd. From March 2013 to August 2014, he served as the vice president in charge of strategic planning at BoyaLife Stem Cell Group Ltd. From January 2017 to December 2023, he served as the chief financial officer, vice president and secretary to the board at RICHEN HOLDINGS LIMITED. Mr. Huang obtained his bachelor's degree from Nanjing University in June 2003 and is a senior member of the Chinese Institute of Certified Public Accountants. Announcement • Dec 02
Grand Baoxin Auto Group Limited Announces Board and Executive Changes The Board of Directors of Grand Baoxin Auto Group Limited announced that Ms. Xu Xing ("Ms. Xu") has resigned as (i) an executive Director; (ii) the company secretary of the Company (the "Company Secretary"); and (iii) the authorised representative of the Company (the "Authorised Representative"), with effect from 2 December 2024, due to her career development needs and desire to devote more time to her personal commitments. The Board also announces that with effect from 2 December 2024, Ms. Leung Kwan Wai ("Ms. Leung") has been appointed as the Company Secretary and the Authorised Representative. Ms. Leung Kwan Wai is a senior manager of Company Secretarial Services of Tricor Services Limited. Ms. Leung has over 15 years of experience in the corporate secretarial field and is familiar with the Listing Rules of the Hong Kong Stock Exchange, the Companies Ordinance as well as compliance work for offshore companies. She specializes in providing professional company secretarial, corporate governance and compliance services for listed companies, multinational, private and offshore companies in Hong Kong. She is currently acting as the company secretary/joint company secretary of a few listed companies on Stock Exchange. Ms. Leung is an associate of The Hong Kong Chartered Governance Institute (HKCGI), and an associate of The Chartered Governance Institute (CGI). Reported Earnings • Sep 02
First half 2024 earnings released: CN¥0.022 loss per share (vs CN¥0.11 profit in 1H 2023) First half 2024 results: CN¥0.022 loss per share (down from CN¥0.11 profit in 1H 2023). Revenue: CN¥13.0b (down 19% from 1H 2023). Net loss: CN¥62.9m (down 120% from profit in 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 22 percentage points per year, which is a significant difference in performance. Announcement • Aug 16
Grand Baoxin Auto Group Limited to Report First Half, 2024 Results on Aug 28, 2024 Grand Baoxin Auto Group Limited announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • May 30
New major risk - Revenue and earnings growth Earnings have declined by 43% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 43% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (HK$556.2m market cap, or US$71.2m). Reported Earnings • Apr 30
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥0.044 (up from CN¥0.25 loss in FY 2022). Revenue: CN¥31.9b (flat on FY 2022). Net income: CN¥125.7m (up CN¥823.7m from FY 2022). Profit margin: 0.4% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is expected to decline by 6.9% p.a. on average during the next 2 years, while revenues in the Specialty Retail industry in Hong Kong are expected to grow by 10%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. New Risk • Apr 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 13% 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 Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (HK$351.9m market cap, or US$44.9m). Announcement • Mar 29
Grand Baoxin Auto Group Limited, Annual General Meeting, Jun 14, 2024 Grand Baoxin Auto Group Limited, Annual General Meeting, Jun 14, 2024. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: CN¥0.04 (vs CN¥0.25 loss in FY 2022) Full year 2023 results: EPS: CN¥0.04 (up from CN¥0.25 loss in FY 2022). Revenue: CN¥31.9b (flat on FY 2022). Net income: CN¥125.7m (up CN¥823.7m from FY 2022). Profit margin: 0.4% (up from net loss in FY 2022). Revenue is expected to decline by 6.9% p.a. on average during the next 2 years, while revenues in the Specialty Retail industry in Hong Kong are expected to grow by 10%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Announcement • Mar 19
Grand Baoxin Auto Group Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 Grand Baoxin Auto Group Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 Reported Earnings • Sep 30
First half 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.19 in 1H 2022) First half 2023 results: EPS: CN¥0.11 (down from CN¥0.19 in 1H 2022). Revenue: CN¥16.0b (up 9.0% from 1H 2022). Net income: CN¥323.5m (down 40% from 1H 2022). Profit margin: 2.0% (down from 3.7% in 1H 2022). Revenue is expected to decline by 3.3% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Hong Kong are expected to grow by 12%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 26
First half 2023 earnings released: EPS: CN¥0.11 (vs CN¥0.19 in 1H 2022) First half 2023 results: EPS: CN¥0.11 (down from CN¥0.19 in 1H 2022). Revenue: CN¥16.0b (up 9.0% from 1H 2022). Net income: CN¥323.5m (down 40% from 1H 2022). Profit margin: 2.0% (down from 3.7% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Aug 16
Grand Baoxin Auto Group Limited to Report First Half, 2023 Results on Aug 25, 2023 Grand Baoxin Auto Group Limited announced that they will report first half, 2023 results on Aug 25, 2023 New Risk • Aug 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$766.1m (US$98.1m) This is considered a minor 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 Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (HK$766.1m market cap, or US$98.1m). Reported Earnings • Mar 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: CN¥0.25 loss per share (down from CN¥0.20 profit in FY 2021). Revenue: CN¥31.7b (down 16% from FY 2021). Net loss: CN¥698.0m (down 226% from profit in FY 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 36% 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 • Jan 31
Grand Baoxin Auto Group Limited Provides Financial Guidance for the Year Ended 31 December 2022 Grand Baoxin Auto Group Limited provided financial guidance for the year ended 31 December 2022. It is expected that the Company will record a loss attributable to owners of the parent of not more than RMB 700 million for the Year as compared to the profit attributable to owners of the parent of RMB 552 million for the year ended 31 December 2021. Board Change • Nov 16
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 Wenji Liu 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. Board Change • Sep 08
Less than half of directors are independent Following President & Executive Director Xiangyi Bao's arrival on 01 September 2022, 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 Wenji Liu 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. Reported Earnings • Aug 27
First half 2022 earnings released: EPS: CN¥0.19 (vs CN¥0.14 in 1H 2021) First half 2022 results: EPS: CN¥0.19 (up from CN¥0.14 in 1H 2021). Revenue: CN¥14.7b (down 26% from 1H 2021). Net income: CN¥538.7m (up 37% from 1H 2021). Profit margin: 3.7% (up from 2.0% in 1H 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 23%, compared to a 15% growth forecast for the Specialty Retail industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Board Change • Jun 22
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 Wenji Liu 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. Board Change • Apr 27
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 Wenji Liu 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. Major Estimate Revision • Apr 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from CN¥40.9b to CN¥43.0b. EPS estimate fell from CN¥0.26 to CN¥0.23 per share. Net income forecast to grow 18% next year vs 20% growth forecast for Specialty Retail industry in Hong Kong. Consensus price target down from HK$1.21 to HK$0.85. Share price fell 16% to HK$0.53 over the past week. Reported Earnings • Apr 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.19 (up from CN¥0.075 in FY 2020). Revenue: CN¥37.6b (up 7.0% from FY 2020). Net income: CN¥552.0m (up 161% from FY 2020). Profit margin: 1.5% (up from 0.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 8.8%, compared to a 22% growth forecast for the retail industry in Hong Kong. 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 43% per year, which means it is performing significantly worse than earnings. Reported Earnings • Sep 29
First half 2021 earnings released: EPS CN¥0.14 (vs CN¥0.033 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥19.9b (up 36% from 1H 2020). Net income: CN¥393.1m (up 324% from 1H 2020). Profit margin: 2.0% (up from 0.6% in 1H 2020). The increase in margin was driven by higher revenue. 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 29% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 25
First half 2021 earnings released: EPS CN¥0.14 (vs CN¥0.033 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥19.9b (up 36% from 1H 2020). Net income: CN¥393.1m (up 324% from 1H 2020). Profit margin: 2.0% (up from 0.6% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 22% per year. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CN¥1.39, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 45% over the past three years. Executive Departure • Jul 13
Independent Non-Executive Director Wan Tsun Chan has left the company On the 30th of June, Wan Tsun Chan's tenure as Independent Non-Executive Director ended after 9.6 years in the role. We don't have any record of a personal shareholding under Wan Tsun's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 3.88 years. Executive Departure • Jul 13
Independent Non-Executive Director Jianshen Diao has left the company On the 30th of June, Jianshen Diao's tenure as Independent Non-Executive Director ended after 9.6 years in the role. We don't have any record of a personal shareholding under Jianshen's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 3.88 years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 31% share price gain to CN¥1.69, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improved over the past week After last week's 56% share price gain to CN¥1.22, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Specialty Retail industry in Hong Kong. Total loss to shareholders of 63% over the past three years. Reported Earnings • May 01
Full year 2020 earnings released: EPS CN¥0.075 (vs CN¥0.22 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥35.1b (down 3.6% from FY 2019). Net income: CN¥211.4m (down 66% from FY 2019). Profit margin: 0.6% (down from 1.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Apr 02
Consensus EPS estimates fall to CN¥0.15 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from CN¥38.5b to CN¥37.6b. EPS estimate also fell from CN¥0.22 to CN¥0.15. Net income forecast to grow 106% next year vs 53% growth forecast for Specialty Retail industry in Hong Kong. Consensus price target of HK$1.70 unchanged from last update. Share price fell 8.0% to HK$0.81 over the past week. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥0.07 (vs CN¥0.22 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥35.1b (down 3.6% from FY 2019). Net income: CN¥211.4m (down 66% from FY 2019). Profit margin: 0.6% (down from 1.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year whereas the company’s share price has fallen by 36% per year. Is New 90 Day High Low • Feb 12
New 90-day high: HK$1.21 The company is up 27% from its price of HK$0.95 on 13 November 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$3.38 per share. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improved over the past week After last week's 34% share price gain to CN¥1.21, the stock is trading at a trailing P/E ratio of 7.1x, up from the previous P/E ratio of 5.3x. This compares to an average P/E of 14x in the Specialty Retail industry in Hong Kong. Total return to shareholders over the past three years is a loss of 61%. Is New 90 Day High Low • Jan 11
New 90-day low: HK$0.77 The company is down 31% from its price of HK$1.11 on 12 October 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$3.37 per share. Is New 90 Day High Low • Dec 23
New 90-day low: HK$0.86 The company is down 23% from its price of HK$1.12 on 24 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$3.34 per share. Is New 90 Day High Low • Nov 04
New 90-day low: HK$0.88 The company is down 38% from its price of HK$1.42 on 06 August 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.44 per share. Is New 90 Day High Low • Oct 19
New 90-day low: HK$1.04 The company is down 20% from its price of HK$1.30 on 21 July 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$1.44 per share. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total profits of CN¥405.1m, down 21% from the prior year. Total revenue was CN¥33.7b over the last 12 months, down 9.3% from the prior year. Is New 90 Day High Low • Sep 28
New 90-day low: HK$1.06 The company is down 9.0% from its price of HK$1.17 on 30 June 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$0.89 per share. 
