New Risk • May 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$531.7m market cap, or US$67.9m). Reported Earnings • Apr 02
Full year 2025 earnings released: HK$0.65 loss per share (vs HK$1.80 loss in FY 2024) Full year 2025 results: HK$0.65 loss per share (improved from HK$1.80 loss in FY 2024). Revenue: HK$91.1m (down 73% from FY 2024). Net loss: HK$664.1m (loss narrowed 57% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Announcement • Mar 17
Apollo Future Mobility Group Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 Apollo Future Mobility Group Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 Reported Earnings • Sep 30
First half 2025 earnings released: HK$0.10 loss per share (vs HK$0.50 loss in 1H 2024) First half 2025 results: HK$0.10 loss per share (improved from HK$0.50 loss in 1H 2024). Revenue: HK$84.9m (down 33% from 1H 2024). Net loss: HK$105.3m (loss narrowed 69% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 46% per year, which means it has not declined as severely as earnings. New Risk • Sep 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$565m 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$565m free cash flow). Earnings have declined by 39% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$705.5m market cap, or US$90.7m). Reported Earnings • Sep 01
First half 2025 earnings released: HK$0.10 loss per share (vs HK$0.50 loss in 1H 2024) First half 2025 results: HK$0.10 loss per share (improved from HK$0.50 loss in 1H 2024). Revenue: HK$84.9m (down 33% from 1H 2024). Net loss: HK$105.3m (loss narrowed 69% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year and the company’s share price has also fallen by 54% per year. Announcement • Aug 18
Apollo Future Mobility Group Limited to Report First Half, 2025 Results on Aug 29, 2025 Apollo Future Mobility Group Limited announced that they will report first half, 2025 results on Aug 29, 2025 New Risk • Jul 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$777.1m (US$99.0m) 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 Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$777.1m market cap, or US$99.0m). Announcement • Jun 09
Apollo Future Mobility Group Limited, Annual General Meeting, Jun 30, 2025 Apollo Future Mobility Group Limited, Annual General Meeting, Jun 30, 2025, at 11:00 China Standard Time. New Risk • May 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (HK$70m sold). Reported Earnings • Apr 02
Full year 2024 earnings released: HK$1.80 loss per share (vs HK$1.79 loss in FY 2023) Full year 2024 results: HK$1.80 loss per share (further deteriorated from HK$1.79 loss in FY 2023). Revenue: HK$340.2m (up 22% from FY 2023). Net loss: HK$1.54b (loss widened 79% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 8 percentage points per year, which is a significant difference in performance. New Risk • Apr 01
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 12% 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 Earnings have declined by 8.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Significant insider selling over the past 3 months (HK$70m sold). Market cap is less than US$100m (HK$685.0m market cap, or US$88.0m). Announcement • Mar 19
Apollo Future Mobility Group Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 Apollo Future Mobility Group Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 31, 2025 Reported Earnings • Oct 01
First half 2024 earnings released First half 2024 results: HK$0.50 loss per share. Net loss: HK$343.2m (flat on 1H 2023). New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings have declined by 8.3% 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 Earnings have declined by 8.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (113% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (HK$562.3m market cap, or US$72.1m). Announcement • Aug 15
Apollo Future Mobility Group Limited to Report First Half, 2024 Results on Aug 30, 2024 Apollo Future Mobility Group Limited announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • Jul 25
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 10.0% 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 Shareholders have been substantially diluted in the past year (113% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Market cap is less than US$100m (HK$644.1m market cap, or US$82.5m). 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 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 Shareholders have been substantially diluted in the past year (113% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$674.8m market cap, or US$86.4m). New Risk • May 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 113% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (113% increase in shares outstanding). Minor Risk Market cap is less than US$100m (HK$541.9m market cap, or US$69.4m). Announcement • May 14
Apollo Future Mobility Group Limited has completed a Follow-on Equity Offering in the amount of HKD 205.000001 million. Apollo Future Mobility Group Limited has completed a Follow-on Equity Offering in the amount of HKD 205.000001 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 445,652,177
Price\Range: HKD 0.46
Transaction Features: Subsequent Direct Listing Announcement • May 01
Apollo Future Mobility Group Limited, Annual General Meeting, May 31, 2024 Apollo Future Mobility Group Limited, Annual General Meeting, May 31, 2024, at 11:00 China Standard Time. Location: 15th Floor, Tower One, Lippo Centre, Admiralty Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditors of the Company for the year ended 31 December 2023; to re-elect the directors of the Company; to authorise the board of directors of the Company to fix the directors remuneration; to re-appoint Ernst & Young as auditors of the Company and to authorise the board of directors of the Company to fix their remuneration; and to consider other matters. Reported Earnings • Mar 30
Full year 2023 earnings released: HK$1.79 loss per share (vs HK$0.49 profit in FY 2022) Full year 2023 results: HK$1.79 loss per share (down from HK$0.49 profit in FY 2022). Revenue: HK$279.2m (down 55% from FY 2022). Net loss: HK$860.5m (down HK$1.07b from profit in FY 2022). Announcement • Mar 18
Apollo Future Mobility Group Limited(SEHK:860) dropped from S&P Global BMI Index Apollo Future Mobility Group Limited(SEHK:860) dropped from S&P Global BMI Index Announcement • Mar 15
Apollo Future Mobility Group Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 Apollo Future Mobility Group Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 New Risk • Jan 25
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 Share price has been highly volatile over the past 3 months (27% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$328.8m market cap, or US$42.1m). Announcement • Jan 24
Apollo Future Mobility Group Limited has completed a Follow-on Equity Offering in the amount of HKD 49.026802 million. Apollo Future Mobility Group Limited has completed a Follow-on Equity Offering in the amount of HKD 49.026802 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 96,130,985
Price\Range: HKD 0.51
Transaction Features: Subsequent Direct Listing New Risk • Dec 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$18.7m (US$2.40m) 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 (28% average weekly change). Market cap is less than US$10m (HK$18.7m market cap, or US$2.40m). Minor Risk Large one-off items impacting financial results. Announcement • Dec 04
Apollo Future Mobility Group Limited Announces Board and Committee Changes The board of directors of Apollo Future Mobility Group Limited announced that Mr. Freeman Hui Shen (Mr. Shen) has tendered his resignation as a non-executive Director and the co-chairman of the Board with effect from 1 December 2023 so as to devote more time to his other engagements. Consequent upon Mr. Shen's resignation, he has ceased to be a member of each of the audit committee, remuneration committee (the Remuneration Committee) and investment committee of the Company and the chairman of the nomination committee (the Nomination Committee) of the Company with effect from 1 December 2023. Following Mr. Shen's resignation, Mr. Hui Chun Ying, being the chairman of the Board and an executive Director, has been appointed as a member of the Remuneration Committee and the chairman of the Nomination Committee with effect from 1 December 2023. With effect from 1 December 2023, Ms. Chen Yizi, being an executive Director, has also been appointed as a member of the Nomination Committee. Announcement • Nov 02
Apollo Future Mobility Group Limited Announces Board Changes Apollo Future Mobility Group Limited announces the following changes with effect from 1 November 2023. Ms. Chen Yizi has been appointed as an executive Director. The biographical details of Ms. Chen are as follows: Ms. Chen Yizi, aged 36, has over a decade of experience in originating, underwriting and managing investment opportunities in early and growth-stage companies as well as funds. Before joining the Company, Ms. Chen dedicated her time to advising global family offices and entrepreneurs, specialising in optimising asset allocation strategies, providing investment recommendations, and crafting their expansion plans. Prior to that, she held the position of Managing Director and Investment Committee member of ASG, a New York-based family office, where she led the firm's Investment Development department, forming enduring global strategic partnerships and sourcing opportunities across various asset classes with a focus on venture capital and private equity. Ms. Chen's professional journey began in media, where she spent four years as an on-air personality at an international television station, delivering in-depth coverage of business and political news. Ms. Chen holds a bachelor’s degree in journalism from Nanjing University and a Master of Arts degree in Media, Culture, and Communication from New York University. In May 2023, she was accredited as a Chartered Alternative Investment Analyst by the Chartered Alternative Investment Analyst Association. She is also a member of the Milken Institute Young Leader Circle, and a class 24 fellow of the Kauffman Fellows programme. Reference is made to the announcement of the Company dated 24 October 2023 in relation to, among other things, Mr. Joseph Lee's cessation as a member of the investment committee of the Company and the chairman of the corporate governance committee of the Company with effect from 31 October 2023. Following Mr. Joseph Lee's resignation, Ms. Chen has been appointed as a member of the Investment Committee and the chairman of the Corporate Governance Committee. Announcement • Oct 25
Apollo Future Mobility Group Limited Announces Board Changes The board of directors of Apollo Future Mobility Group Limited announced that Mr. Joseph Lee tendered his resignation as an executive Directorand the vice chairman of the Board with effect from 31 October 2023 so as to devote more time to his other engagements; and Mr. Wilfried Porth has tendered his resignation as a non-executive Director with effect from 31 October 2023 so as to devote more time to his other engagements. Consequent upon Mr. Lee's resignation, he shall cease to be a member of the investment committee of the Company and the chairman of the corporate governance committee of the Company with effect from 31 October 2023. Announcement • Sep 21
Apollo Future Mobility Group Limited Announces Executive Changes The board (the "Board'') of directors of Apollo Future Mobility Group Limited announces the following changes with effect from 20 September 2023. Mr. Ho King Fung, Eric ("Mr. Ho'') has tendered his resignation as an executive Director and the chairman of the Board due to health reasons. Mr. Ho will, however, remain as a director of certain subsidiaries of the Company. Mr. Ho will take up the role of senior adviser to the Board following hisresignation. As a senior adviser to the Board, Mr. Ho will provide advice to the Board on affairs in connection with the Group's activities and development. He is not required to participate in the meetings of the Board and will not receive any remuneration for the position of senior adviser to the Board. Mr. Hui Chun Ying (``Mr. Hui'') has been appointed as an executive Director and the chairman of the Board. Mr. Hui Chun Ying aged 39, has extensive experience in banking, capital markets and legal practice. He is the co-founder of Repeat App, a food and beverage mobile application in the United Arab Emirates and the United States. From December 2021 to July 2022, Mr. Hui served as a representative of Finex Hong Kong Limited, and was licensed to carry on Type 4 (advising on securities) and Type 9 (asset management) regulated activities. Between October 2018 and August 2019, he acted as the Asia Pacific Chief Operating Officer for a Swiss family office known as Privatemarket.io. Between February 2014 and June 2018, he was an Associate Director at UBS Wealth Management Hong Kong and prior to that, between September 2012 and February 2014, he was a capital market associate at Sidley Austin, Hong Kong. He was a solicitor of Hong Kong Special Administrative Region and a New York Attorney. Mr. Hui holds a Bachelor of Laws degree from the School of Oriental and African Studies, University of London, a Master of Laws degree specialising in Corporate and Financial Law from University College London and a Postgraduate Certificate in Laws from the University of Hong Kong. Mr. Hui is entitled to receive a Director's fee of HKD 1,800,000 per annum. The remuneration is determined by the Board with the recommendation from the remuneration committee (the "Remuneration Committee'') of the Company with reference to his background, experience and responsibilities, the remuneration policy of the Company as well as the prevailing market conditions, and shall be reviewed by the Remuneration Committee and the Board from time to time. Consequent upon Mr. Ho's resignation, he has ceased to be a member of the nomination committee (the ``Nomination Committee'') and the chairman of the investment committee (the ``Investment Committee'') of the Company. Following Mr. Ho's resignation, Mr. Hui has been appointed as a member of the Nomination Committee and the chairman of the Investment Committee. Consequent upon Mr. Ho's resignation, he has ceased to be an authorised representative under Rule 3.05 of the Listing Rules (the Authorised Representative''). Following Mr. Ho's resignation, Mr. Hui has been appointed as an Authorised Representative. Announcement • Sep 19
Apollo Future Mobility Group Limited Announces Resignation of Qi Zhenggang as Executive Director and Member of Investment Committee and the Corporate Governance Committee Apollo Future Mobility Group Limited announced that Mr. Qi Zhenggang has tendered his resignation as an executive Director with effect from 18 September 2023 so as to devote more time to his other engagements. Mr. Qi will cease to be a director of the subsidiaries of the Company. Consequent upon Mr. Qi's resignation, he has ceased to be a member of each of the investment committee and the corporate governance committee of the Company with effect from 18 September 2023. Announcement • Sep 10
WM Motor Global Investment Limited cancelled the acquisition of Apollo Future Mobility Group Limited (SEHK:860) in a reverse merger transaction. WM Motor Global Investment Limited entered into acquisition agreement to acquire Apollo Future Mobility Group Limited (SEHK:860) for HKD 6.9 billion in a reverse merger transaction on January 11, 2023. As per the transaction, Apollo Future Mobility Group Limited will issue 28.8 billion consideration shares. The transaction is subject to regulatory approvals China Orient International Capital Limited and Altus Capital Limited acted as financial advisor to Apollo Future Mobility Group Limited. Altus Capital Limited acted fairness opinion provider and Tricor Tengis Limited acted registrar.
WM Motor Global Investment Limited cancelled the acquisition of Apollo Future Mobility Group Limited (SEHK:860) in a reverse merger transaction on September 8, 2023 Announcement • Aug 20
Apollo Future Mobility Group Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 The board of directors of Apollo Future Mobility Group Limited informed the shareholders of the Company and potential investors that the Group is expected to record a consolidated net loss of not less than HKD 60,000,000 for the six months ended 30 June 2023 as compared with the consolidated net profit of approximately HKD 9,363,000 for the six months ended 31 March 2022. Based on information currently available to the Board, the Expected Loss is mainly attributable to, among others, (i) the absence of fair value gains on contingent consideration payables for the Period, while a one-off fair value gain on contingent consideration payables of approximately HKD 127,007,000 was recognised in the Last Interim Period; and (ii) the expected decrease in revenue due to the decrease in licensing income from the license of vehicular platform for the Period as compared to the Last Interim Period and disposal of certain subsidiaries subsequent to the Last Interim Period. Announcement • Aug 12
Apollo Future Mobility Group Limited to Report First Half, 2023 Results on Aug 31, 2023 Apollo Future Mobility Group Limited announced that they will report first half, 2023 results on Aug 31, 2023 New Risk • Jul 26
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 13% 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 (13% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Jun 09
Apollo Future Mobility Group Limited, Annual General Meeting, Jun 30, 2023 Apollo Future Mobility Group Limited, Annual General Meeting, Jun 30, 2023, at 16:00 China Standard Time. Location: Units 20012002, 20/F, Li Po Chun Chambers, 189 Des Voeux Road Central Sheung Wan Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and auditors of the Company for the fifteen months ended 31 December 2022; to consider directorate reelections; to authorize the board of directors of the Company to fix the directors' remuneration; to re-appoint Ernst & Young as auditors of the Company and to authorize the board of directors of the Company to fix their remuneration; and to consider other matters. Recent Insider Transactions • Jun 01
Executive Chairman recently bought HK$264k worth of stock On the 30th of May, King Fung Ho bought around 3m shares on-market at roughly HK$0.088 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$3.6m worth in shares. Recent Insider Transactions • May 18
Executive Chairman recently bought HK$220k worth of stock On the 17th of May, King Fung Ho bought around 2m shares on-market at roughly HK$0.11 per share. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$3.7m worth in shares. Recent Insider Transactions • Jan 19
Executive Chairman recently bought HK$352k worth of stock On the 13th of January, King Fung Ho bought around 2m shares on-market at roughly HK$0.23 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$5.2m worth in shares. Announcement • Jan 13
WM Motor Global Investment Limited entered into acquisition agreement to acquire Apollo Future Mobility Group Limited (SEHK:860) for HKD 6.9 billion in a reverse merger transaction. WM Motor Global Investment Limited entered into acquisition agreement to acquire Apollo Future Mobility Group Limited (SEHK:860) for HKD 6.9 billion in a reverse merger transaction on January 11, 2023. As per the transaction, Apollo Future Mobility Group Limited will issue 28.8 billion consideration shares. The transaction is subject to regulatory approvals China Orient International Capital Limited and acted as financial advisor to Apollo Future Mobility Group Limited. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: HK$113.3m (down 21% from 3Q 2021). Net income: HK$16.0m (up HK$89.9m from 3Q 2021). Profit margin: 14% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 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 independent directors. 6 non-independent directors. Independent Non-Executive Director Hannah Lee was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Oct 12
Executive Chairman recently bought HK$205k worth of stock On the 5th of October, King Fung Ho bought around 1m shares on-market at roughly HK$0.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$275k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$5.9m worth in shares. Recent Insider Transactions • Oct 02
Executive Chairman recently bought HK$108k worth of stock On the 28th of September, King Fung Ho bought around 500k shares on-market at roughly HK$0.22 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$275k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$5.7m worth in shares. Recent Insider Transactions • Sep 17
Executive Chairman recently bought HK$153k worth of stock On the 14th of September, King Fung Ho bought around 500k shares on-market at roughly HK$0.31 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$5.2m worth in shares. Recent Insider Transactions • Aug 04
Executive Chairman recently bought HK$153k worth of stock On the 2nd of August, King Fung Ho bought around 500k shares on-market at roughly HK$0.31 per share. In the last 3 months, they made an even bigger purchase worth HK$554k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$5.0m worth in shares. Recent Insider Transactions • Jul 19
Executive Chairman recently bought HK$153k worth of stock On the 15th of July, King Fung Ho bought around 500k shares on-market at roughly HK$0.31 per share. In the last 3 months, they made an even bigger purchase worth HK$554k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$4.9m worth in shares. Reported Earnings • Jun 01
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: (down 100% from 2Q 2021). Net income: (up HK$100.9m from 2Q 2021). Profit margin: (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 2.2%, compared to a 14% growth forecast for the industry in Hong Kong. Recent Insider Transactions • Jun 01
Executive Chairman recently bought HK$553k worth of stock On the 31st of May, King Fung Ho bought around 2m shares on-market at roughly HK$0.33 per share. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$4.1m worth in shares. Recent Insider Transactions • Apr 28
Executive Chairman recently bought HK$268k worth of stock On the 25th of April, King Fung Ho bought around 800k shares on-market at roughly HK$0.33 per share. In the last 3 months, they made an even bigger purchase worth HK$830k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$3.6m worth in shares. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Hannah Lee was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Apr 19
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Yan Hannah Lee Hau was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Mar 24
Executive Chairman recently bought HK$63k worth of stock On the 15th of March, King Fung Ho bought around 200k shares on-market at roughly HK$0.31 per share. In the last 3 months, they made an even bigger purchase worth HK$830k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$3.3m worth in shares. Recent Insider Transactions • Mar 22
Executive Chairman recently bought HK$350k worth of stock On the 14th of March, King Fung Ho bought around 1m shares on-market at roughly HK$0.35 per share. In the last 3 months, they made an even bigger purchase worth HK$830k. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$3.3m worth in shares. Recent Insider Transactions • Feb 25
Executive Chairman recently bought HK$830k worth of stock On the 23rd of February, King Fung Ho bought around 2m shares on-market at roughly HK$0.42 per share. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$2.5m worth in shares. Reported Earnings • Jan 30
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: HK$0.045 loss per share (up from HK$0.048 loss in FY 2020). Revenue: HK$528.6m (up 48% from FY 2020). Net loss: HK$349.6m (loss widened 1.3% from FY 2020). Revenue exceeded analyst estimates by 25%. Over the next year, revenue is forecast to grow 2.2%, compared to a 20% growth forecast for the retail industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Board Change • Jan 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Charles Matthew Pecot was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Jan 08
Executive Chairman recently bought HK$815k worth of stock On the 6th of January, King Fung Ho bought around 2m shares on-market at roughly HK$0.41 per share. This was the largest purchase by an insider in the last 3 months. King Fung has been a buyer over the last 12 months, purchasing a net total of HK$3.4m worth in shares. Reported Earnings • Jan 01
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: HK$0.045 loss per share (up from HK$0.048 loss in FY 2020). Revenue: HK$528.6m (up 48% from FY 2020). Net loss: HK$349.6m (loss widened 1.3% from FY 2020). Revenue exceeded analyst estimates by 25%. Over the next year, revenue is forecast to stay flat compared to a 21% growth forecast for the retail industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 02
First half 2021 earnings released: HK$0.027 loss per share (vs HK$0.028 loss in 1H 2020) The company reported a poor first half result with weaker revenues, weaker control over costs and no improvement to losses. First half 2021 results: Revenue: HK$241.1m (down 6.2% from 1H 2020). Net loss: HK$201.8m (flat on 1H 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 04
First half 2021 earnings released: HK$0.027 loss per share (vs HK$0.028 loss in 1H 2020) The company reported a poor first half result with weaker revenues, weaker control over costs and no improvement to losses. First half 2021 results: Revenue: HK$241.1m (down 6.2% from 1H 2020). Net loss: HK$201.8m (flat on 1H 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 24
New 90-day low: HK$0.50 The company is down 14% from its price of HK$0.58 on 26 November 2020. The Hong Kong market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Retail Distributors industry, which is up 9.0% over the same period. Reported Earnings • Jan 30
Full year 2020 earnings released: HK$0.048 loss per share (vs HK$0.093 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: HK$357.7m (down 33% from FY 2019). Net loss: HK$345.2m (loss narrowed 43% from FY 2019). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue misses expectations Revenue missed analyst estimates by 23%. Over the next year, revenue is forecast to grow 61% compared to a 1.5% decline forecast for the Retail Distributors industry in Hong Kong. Recent Insider Transactions • Jan 07
Non-Executive Co-Chairman recently sold HK$1.7m worth of stock On the 31st of December, Jinbing Zhang sold around 2m shares on-market at roughly HK$0.77 per share. This was the largest sale by an insider in the last 3 months. Jinbing has been a seller over the last 12 months, reducing personal holdings by HK$3.0m. Reported Earnings • Dec 31
Full year 2020 earnings released: HK$0.048 loss per share The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: HK$357.7m (down 33% from FY 2019). Net loss: HK$345.2m (loss narrowed 43% from FY 2019). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Dec 31
Revenue misses expectations Revenue missed analyst estimates by 23%. Over the next year, revenue is forecast to grow 182% compared to a 1.7% decline forecast for the Retail Distributors industry in Hong Kong. Is New 90 Day High Low • Dec 30
New 90-day high: HK$0.84 The company is up 98% from its price of HK$0.42 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: HK$0.81 The company is up 93% from its price of HK$0.42 on 10 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 23
New 90-day high: HK$0.56 The company is up 29% from its price of HK$0.43 on 25 August 2020. The Hong Kong market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 2.0% over the same period. 