New Risk • Jun 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 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 Less than 1 year of cash runway based on free cash flow trend (-HK$34m free cash flow). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (HK$407.3m market cap, or US$52.0m). Reported Earnings • Apr 02
Full year 2025 earnings released: HK$0.05 loss per share (vs HK$0.031 loss in FY 2024) Full year 2025 results: HK$0.05 loss per share (further deteriorated from HK$0.031 loss in FY 2024). Revenue: HK$134.2m (up 2.2% from FY 2024). Net loss: HK$64.1m (loss widened 60% from FY 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Mar 31
The Sincere Company, Limited, Annual General Meeting, Jun 05, 2026 The Sincere Company, Limited, Annual General Meeting, Jun 05, 2026. Announcement • Mar 17
The Sincere Company, Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 The Sincere Company, Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 New Risk • Sep 20
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$69m 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 Risk Less than 1 year of cash runway based on free cash flow trend (-HK$69m free cash flow). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$427.0m market cap, or US$54.9m). Reported Earnings • Aug 28
First half 2025 earnings released: HK$0.02 loss per share (vs HK$0.021 loss in 1H 2024) First half 2025 results: HK$0.02 loss per share (improved from HK$0.021 loss in 1H 2024). Revenue: HK$64.3m (down 1.1% from 1H 2024). Net loss: HK$26.7m (loss narrowed 2.1% from 1H 2024). Announcement • Aug 15
The Sincere Company, Limited to Report First Half, 2025 Results on Aug 26, 2025 The Sincere Company, Limited announced that they will report first half, 2025 results on Aug 26, 2025 New Risk • Aug 12
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 Less than 1 year of cash runway based on free cash flow trend (-HK$56m free cash flow). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$440.2m market cap, or US$56.1m). Announcement • Jun 30
The Sincere Company, Limited Appoints Madam Su Jiaohua as Member of the Nomination Committee, Effective June 30, 2025 The Sincere Company, Limited announced that Madam Su Jiaohua has been appointed as a member of the Nomination Committee with effect from 30 June 2025.Following the above appointment, the Nomination Committee comprises members of different genders and continues to consist of a majority of independent non-executive Directors. Reported Earnings • May 04
Full year 2024 earnings released: HK$0.031 loss per share (vs HK$0.038 loss in FY 2023) Full year 2024 results: HK$0.031 loss per share (improved from HK$0.038 loss in FY 2023). Revenue: HK$131.3m (down 10% from FY 2023). Net loss: HK$40.1m (loss narrowed 21% from 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 12% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: HK$0 (vs HK$0.038 loss in FY 2023) Full year 2024 results: EPS: HK$0 (improved from HK$0.038 loss in FY 2023). Revenue: HK$131.3m (down 10% from FY 2023). Net loss: HK$40.1m (loss narrowed 21% from FY 2023). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Apr 01
The Sincere Company, Limited, Annual General Meeting, Jun 06, 2025 The Sincere Company, Limited, Annual General Meeting, Jun 06, 2025. Announcement • Mar 10
The Sincere Company, Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 The Sincere Company, Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Reported Earnings • Sep 25
First half 2024 earnings released: HK$0.021 loss per share (vs HK$0.013 loss in 1H 2023) First half 2024 results: HK$0.021 loss per share (further deteriorated from HK$0.013 loss in 1H 2023). Revenue: HK$65.1m (down 13% from 1H 2023). Net loss: HK$27.3m (loss widened 56% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. New Risk • Aug 29
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -HK$16m This is considered a minor 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-HK$16m). Market cap is less than US$100m (HK$268.0m market cap, or US$34.4m). Announcement • Aug 15
The Sincere Company, Limited to Report First Half, 2024 Results on Aug 28, 2024 The Sincere Company, Limited announced that they will report first half, 2024 results on Aug 28, 2024 Reported Earnings • Mar 27
Full year 2023 earnings released: HK$0.038 loss per share (vs HK$0.045 loss in FY 2022) Full year 2023 results: HK$0.038 loss per share (improved from HK$0.045 loss in FY 2022). Revenue: HK$146.1m (flat on FY 2022). Net loss: HK$50.5m (loss narrowed 14% from FY 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Mar 26
The Sincere Company, Limited, Annual General Meeting, Jun 06, 2024 The Sincere Company, Limited, Annual General Meeting, Jun 06, 2024. Announcement • Mar 09
The Sincere Company, Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 The Sincere Company, Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 New Risk • Nov 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$323.2m market cap, or US$41.4m). Reported Earnings • Sep 24
First half 2023 earnings released First half 2023 results: HK$0.013 loss per share. Net loss: HK$17.5m (flat on 1H 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Aug 30
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$44m 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 Risk Less than 1 year of cash runway based on free cash flow trend (-HK$44m free cash flow). Minor Risk Market cap is less than US$100m (HK$295.6m market cap, or US$37.7m). Announcement • Aug 18
The Sincere Company, Limited Provides Earning Guidance for Six Months Ended 30 June 2023 The Sincere Company, Limited provided earning guidance for six months ended 30 June 2023. The board of directors of the Company informed the shareholders of the Company (the "Shareholders") and potential investors that based on the Group's unaudited consolidated management accounts for the six months ended 30 June 2023 (the "Management Accounts"), the Group is expected to record net loss attributable to the Shareholders ranging from HKD 15.0 million to HKD 20.0 million for the six months ended 30 June 2023 ("1H2023") as compared to the net loss attributable to the Shareholders for the six months ended 30 June 2022 ("1H2022") of approximately HKD 38.1 million.The reduction in loss was mainly attributable to (i) increase in revenue of the department store operations of the Group in 1H2023 by approximately HKD 5.5 million resulting from the gradual recovery of economic activities in Hong Kong and the reopening of border with mainland China in 1H2023; (ii) improvement in gross profit margin from approximately 55% to approximately 59%; and (iii) decrease in depreciation of right-of-use assets of approximately HKD 11.0 million as one of stores closed in late 2022 and due to the rent concession obtained for the department store operation. Announcement • Aug 12
The Sincere Company, Limited to Report First Half, 2023 Results on Aug 28, 2023 The Sincere Company, Limited announced that they will report first half, 2023 results on Aug 28, 2023 Announcement • Jun 09
the Sincere Company, Limited Announces Retirement of Yuan Baoyu as Independent Non-Executive Director The Sincere Company, Limited announced that Mr. Yuan Baoyu, an independent non-executive Director, would voluntarily retire from office and, despite being eligible, has not offered himself for re-election at the AGM. Mr. Yuan Baoyu would retire in order to devote more time for his other personal commitment. The Board announces that with effect from 8 June 2023, Mr. Yuan Baoyu has retired from office and ceased to be an independent non-executive Director, the chairman of the remuneration committee of the Company and a member of each of the audit committee and nomination committee of the Company. Reported Earnings • Mar 30
Full year 2022 earnings released: HK$0.045 loss per share (vs HK$0.073 loss in FY 2021) Full year 2022 results: HK$0.045 loss per share (improved from HK$0.073 loss in FY 2021). Revenue: HK$146.5m (down 13% from FY 2021). Net loss: HK$59.0m (loss narrowed 35% from FY 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Simon Chung is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Philip Yu 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 19
The Sincere Company, Limited Provides Consolidated Earnings Guidance for the First Half of 2022 The Sincere Company, Limited provided consolidated earnings guidance for the first half of 2022. For the first half, the company expects to record a net loss attributable to the Shareholders ranging from HKD 37.0 million to HKD 42.0 million as compared with the net loss attributable to the Shareholders of approximately HKD 60.6 million for the first half of 2021. The reduction in loss was mainly attributable to (i) decrease in legal and professional fee of approximately HKD 5.8 million (1H 2022: approximately HKD 3.2 million; first half of 2021: approximately HKD 9.0 million); (ii) decrease in other operating expenses in first half of 2022 as the amount in first half of 2021 included an one-off loss on termination of lease of approximately HKD 2.9 million (first half of 2022: Nil); (iii) impairment loss on right-of-use assets of approximately HKD 2.3 million was recognised for first half of 2021 (first half of 2022: Nil); (iv) the recognition of government subsidies under the Hong Kong government employment support scheme of approximately HKD 2.6 million in first half of 2022 (first half of 2021: Nil); and (v) other income of approximately HKD 7.9 million in first half of 2022 (first half of 2021: Nil) was recognised as imputed interest income calculated based on the discounted present value of the net proceeds of approximately HKD 260.4 million expected to be received from Win Dynamic Limited pursuant to the deed of gift executed by it in favour of the Company on 29 October 2020. Announcement • Aug 16
The Sincere Company, Limited to Report First Half, 2022 Results on Aug 26, 2022 The Sincere Company, Limited announced that they will report first half, 2022 results on Aug 26, 2022 Reported Earnings • May 02
Full year 2021 earnings released: HK$0.072 loss per share (vs HK$0.13 loss in FY 2020) Full year 2021 results: HK$0.072 loss per share (up from HK$0.13 loss in FY 2020). Revenue: HK$168.1m (down 13% from FY 2020). Net loss: HK$91.1m (loss narrowed 36% from FY 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Apr 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. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Simon Chung is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Philip Yu 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 • Apr 01
The Sincere Company, Limited, Annual General Meeting, Jun 09, 2022 The Sincere Company, Limited, Annual General Meeting, Jun 09, 2022. Announcement • Mar 31
The Sincere Company, Limited Provides Earnings Guidance for the Ten Months from 1 March 2021 to 31 December 2021 The Sincere Company, Limited provided earnings guidance for the ten months from 1 March 2021 to 31 December 2021. For the period, the Group is expected to record net loss attributable to the Shareholders ranging from HKD 75.0 million to HKD 78.0 million for FP2021, with revenue of approximately HKD 140.1 million. As set out in the Company's interim report for the six months ended 31 August 2021, the net loss attributable to the Shareholders for the period was approximately HKD 60.6 million, with revenue of approximately HKD 80.2 million. Reported Earnings • Dec 03
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: HK$0.05 loss per share (up from HK$0.068 loss in 1H 2021). Revenue: HK$80.2m (down 1.9% from 1H 2021). Net loss: HK$60.6m (loss narrowed 16% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 26
First half 2022 earnings released: HK$0.05 loss per share (vs HK$0.068 loss in 1H 2021) The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were weaker. First half 2022 results: Revenue: HK$80.2m (down 1.9% from 1H 2021). Net loss: HK$60.6m (loss narrowed 16% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Aug 18
Acting Company Secretary & Executive Director Chu Kin Chan has left the company On the 10th of August, Chu Kin Chan's tenure as Acting Company Secretary & Executive Director ended after less than a year in the role. We don't have any record of a personal shareholding under Chu Kin'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. Executive Departure • Jul 25
Independent Non Executive Director Kai Kin Lo has left the company On the 15th of July, Kai Kin Lo's tenure as Independent Non Executive Director ended after 27.6 years in the role. As of March 2021, Kai Kin still personally held 2.20m shares (HK$539k worth at the time). A total of 7 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. Executive Departure • Jul 23
Independent Non Executive Director Wai Leung Lau has left the company On the 15th of July, Wai Leung Lau's tenure as Independent Non Executive Director ended after 3.4 years in the role. We don't have any record of a personal shareholding under Wai Leung's name. A total of 7 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. Executive Departure • Jul 23
Independent Non-Executive Director Peter Tan has left the company On the 15th of July, Peter Tan's tenure as Independent Non-Executive Director ended after 9.0 years in the role. As of March 2021, Peter still personally held only 40.00k shares (HK$9.8k worth at the time). A total of 7 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. Executive Departure • Jul 13
Independent Non Executive Director King Wing Ma has left the company On the 1st of July, King Wing Ma's tenure as Independent Non Executive Director ended. We don't have any record of a personal shareholding under King Wing's name. A total of 4 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 • Jul 03
Full year 2021 earnings released: HK$0.14 loss per share (vs HK$0.17 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: HK$177.5m (down 33% from FY 2020). Net loss: HK$145.0m (loss narrowed 1.6% from FY 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jun 11
Non-Executive Director Man Wai Chan has left the company On the 4th of June, Man Wai Chan's tenure as Non-Executive Director ended after 25.6 years in the role. We don't have any record of a personal shareholding under Man Wai's name. Man Wai is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 9.25 years. Recent Insider Transactions • May 24
Independent Non Executive Director recently sold HK$79k worth of stock On the 17th of May, Kai Kin Lo sold around 200k shares on-market at roughly HK$0.39 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$988k more than they bought in the last 12 months. Is New 90 Day High Low • Feb 12
New 90-day low: HK$0.30 The company is down 10.0% from its price of HK$0.34 on 13 November 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 2.0% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: HK$0.40 The company is up 5.0% from its price of HK$0.38 on 03 September 2020. The Hong Kong market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Multiline Retail industry, which is down 9.0% over the same period. Reported Earnings • Nov 22
First half 2021 earnings released: HK$0.068 loss per share The company reported a soft first half result with weaker revenues and control over expenses, though losses reduced. First half 2021 results: Revenue: HK$81.8m (down 41% from 1H 2020). Net loss: HK$71.9m (loss narrowed 12% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 17
The Sincere Company, Limited to Report First Half, 2021 Results on Oct 29, 2020 The Sincere Company, Limited announced that they will report first half, 2021 results on Oct 29, 2020 Is New 90 Day High Low • Oct 15
New 90-day low: HK$0.32 The company is down 17% from its price of HK$0.39 on 17 July 2020. The Hong Kong market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is down 10.0% over the same period. Announcement • Sep 09
Ma King Huen Philip, Chief Executive Officer and Executive Director and Chan Man Wai Charles, non-Executive Director of The Sincere Company cancelled the acquisition of additional 3.52% stake in The Sincere Company, Limited (SEHK:244). Ma King Huen Philip, Chief Executive Officer and Executive Director and Chan Man Wai Charles, non-Executive Director of The Sincere Company made an offer to acquire additional 3.52% stake in The Sincere Company, Limited (SEHK:244) on March 22, 2019. As per the terms, offerrors shall offer HKD 0.26 in cash for each offer share and HKD 0.001 in cash for each share option. Presently, the offerors hold 26.48% stake in The Sincere Company. Post completion, the offerors shall hold 30% or more stake in The Sincere Company. In related transactions, The Sincere Company, Limited (SEHK: 244) announced an open offer of 3 new shares for every 5 shares held by the shareholders, except The Sincere Life Assurance Company Limited, The Sincere Insurance & Investment Company, Limited, and The Sincere Company (Perfumery Manufacturers), Limited, as on record date July 4, 2019. The offerors intend to finance the offer through internal resources of HKD 177 million and the term loan facility of up to HKD 29 million obtained from Realord Manureen pursuant to the term loan facility agreement dated 22 March 2019. The offer is subject to the reorganization completion which comprises the open offer completion, the buy-backs completion and the intragroup transfers completion. The offer is subject to approval by the Board and shareholders of The Sincere Company. The Sincere Company has established the Independent Board Committee to advise on the transaction. Crescendo Capital Limited acted as financial advisor for Ma King Huen Philip and Chan Man Wai Charles. Optima Capital Limited acted as financial advisor for The Sincere Company. Gram Capital Limited acted as financial advisor for Independent Board Committee and the independent shareholders. Tricor Tengis Limited acted as share registrar for The Sincere Company.
Ma King Huen Philip, Chief Executive Officer and Executive Director and Chan Man Wai Charles, non-Executive Director of The Sincere Company cancelled the acquisition of additional 3.52% stake in The Sincere Company, Limited (SEHK:244) on March 22, 2020.