Reported Earnings • Oct 01
First half 2023 earnings released: CN¥0.048 loss per share (vs CN¥0.003 profit in 1H 2022) First half 2023 results: CN¥0.048 loss per share (down from CN¥0.003 profit in 1H 2022). Revenue: CN¥143.6m (down 30% from 1H 2022). Net loss: CN¥59.0m (down CN¥62.3m from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 30
First half 2023 earnings released: CN¥0.048 loss per share (vs CN¥0.003 profit in 1H 2022) First half 2023 results: CN¥0.048 loss per share (down from CN¥0.003 profit in 1H 2022). Revenue: CN¥143.6m (down 30% from 1H 2022). Net loss: CN¥59.0m (down CN¥62.3m from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Aug 15
Sinosoft Technology Group Limited to Report First Half, 2023 Results on Aug 28, 2023 Sinosoft Technology Group Limited announced that they will report first half, 2023 results on Aug 28, 2023 Announcement • Aug 13
Sinosoft Technology Group Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 Sinosoft Technology Group Limited provided earnings guidance for the six months ended 30 June 2023. For the period, based on the preliminary assessment of the unaudited management accounts of the Group for the period and the information available to the Board as at the date of this announcement, the Group is expected to record a loss and total comprehensive expenses of not less than RMB 50 million for the period, as compared to the profit and total comprehensive income of approximately RMB 2.5 million for the six months ended 30 June 2022. Based on the information currently available to the Board, the decline in the overall financial results of the Group for the six months ended 30 June 2023 was principally attributable to decreased demand for traditional government information products due to clients' tight budget in information technology under the difficult economic environment and further impairment losses on accounts receivable made by the Group. Nevertheless, the Group has adjusted its deployment according to the market condition, laying a solid foundation for future development. Announcement • Feb 01
Sinosoft Technology Group Limited Appoints Li Dong as Independent Non-Executive Director,Member of Each of the Remuneration Committee, Nomination Committee, Investment Management Committee and Chairman of Audit Committee, Effective 1 February 2023 The board of directors of the Sinosoft Technology Group Limited announced that Mr. Li Dong has been appointed as an independent non-executive Director, a member of each of the remuneration committee, nomination committee, investment management committee and chairman of the audit committee of the Company with effect from 1 February 2023. Mr. Li, aged 46, has more than 21 years' management experience in public accounting, investment banking and corporate finance. Mr. Li currently serves as the chief financial officer of TH International Limited, a premium coffee chain network in China. Prior to joining Tim Hortons China in September 2021, Mr. Li served as the chief financial officer of OneSmart International Education Group Limited, a leading premium K-12 education company in China listed on the New York Stock Exchange from July 2017 to June 2019, and as its director from September 2017 to June 2019. Mr. Li also served as the chief financial officer for (i) Ximalaya Inc., a leading non-music audio platform in China from September 2019 to September 2021; and (ii) Ecovacs Robotics Holdings Limited a leading consumer robotics company in China listed on the Shanghai Stock Exchange. From September 2008 to March 2015, Mr. Li worked as an associate and later vice president at the investment banking group of Merrill Lynch (Asia Pacific) Limited and as vice president in investment banking department of ICBC International Holdings Limited in Hong Kong. Prior to that, Mr. Li worked in KPMG's auditing practice group from August 1999 to April 2006 in its Beijing and Mountain View, California offices, respectively. Mr. Li has served as an independent non-executive director and the chairman of the audit committee of Helens International Holdings Company Limited a company listed on the Stock Exchange since August 2021. He also has served as an independent director of GreenTree Hospitality Group Ltd., a leading hospitality management group in China listed on the New York Stock Exchange since March 2018; and an independent director of Boqii Holding Limited, China's largest pet-focused platform listed on the New York Stock Exchange since September 2020. Mr. Li obtained his bachelor's degree in accounting from School of Economics and Management, Tsinghua University in July 1999, as well as a master's degree in business administration from J. L. Kellogg School of Management, Northwestern University in the United States in June 2008. Mr. Li became a member of the Chinese Institute of Certified Public Accountants in 2002 and a member of the Certified General Accountants Association of Canada in 2001. Board Change • Dec 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Choo Tee Chan was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 25
Sinosoft Technology Group Limited Announces Kwauk Teh Ming, Walter, Independent Non-Executive Director Passed Away Sinosoft Technology Group Limited announces with deepest sorrow that Mr. Kwauk Teh Ming, Walter ("Mr. Kwauk"), an independent non-executive Director, a member of each of the remuneration committee (the "Remuneration Committee"), nomination committee (the "Nomination Committee"), investment management committee (the "Investment Management Committee") and chairman of the audit committee (the "Audit Committee") of the Company, passed away on 24 November 2022. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: CN¥0.003 (vs CN¥0.023 loss in 1H 2021) First half 2022 results: EPS: CN¥0.003 (up from CN¥0.023 loss in 1H 2021). Revenue: CN¥203.9m (down 1.4% from 1H 2021). Net income: CN¥3.32m (up CN¥31.5m from 1H 2021). Profit margin: 1.6% (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings. Announcement • Aug 13
Sinosoft Technology Group Limited to Report First Half, 2022 Results on Aug 29, 2022 Sinosoft Technology Group Limited announced that they will report first half, 2022 results on Aug 29, 2022 Reported Earnings • Mar 30
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: CN¥0.013 (down from CN¥0.37 in FY 2020). Revenue: CN¥586.4m (up 9.9% from FY 2020). Net income: CN¥15.8m (down 97% from FY 2020). Profit margin: 2.7% (down from 84% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates by 134%. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Board Change • Oct 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Walter Kwauk was the last independent director to join the board, commencing their role in 2012. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Oct 06
Independent Non-Executive Director Choon Kiat Kang has left the company On the 1st of October, Choon Kiat Kang's tenure as Independent Non-Executive Director ended after 8.9 years in the role. We don't have any record of a personal shareholding under Choon Kiat's name. Choon Kiat is the only executive to leave the company over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Sep 30
First half 2021 earnings released: CN¥0.023 loss per share (vs CN¥0.041 profit in 1H 2020) The company reported a soft first half result with weaker earnings and weaker control over costs, although revenues improved. First half 2021 results: Revenue: CN¥206.7m (up 5.0% from 1H 2020). Net loss: CN¥28.2m (down 157% from profit in 1H 2020). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CN¥1.18, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 14x in the Software industry in Hong Kong. Total loss to shareholders of 48% over the past three years. Announcement • Jul 25
Sinosoft Technology Group Limited Provides Unaudited Earnings Guidance for the Six Months Ended June 30, 2021 Sinosoft Technology Group Limited provided unaudited earnings guidance for the six months ended June 30, 2021. The company Group is expected to record a net loss attributable to owners of the company of not more than RMB 40 million for the six months ended 30 June 2021, as compared to a net profit attributable to owners of the company of approximately RMB 79.2 million for the six months ended 30 June 2020. Based on the information currently available to the Board, the decline in the overall financial results of the Group for the six months ended 30 June 2021 was principally attributable to (i) the decrease in revenue subsequent to the Group's disposal of the export enterprise cloud-based software and services business for the year ended 31 December 2020; (ii) the one-off expense incurred by the grant of awarded shares to certain employees as further detailed in the company announcement dated on 25 January 2021; and (iii) the increase in research and development cost in low carbon & ecology and government big data businesses. With the significant industry opportunities from China's reaching carbon peak by 2030 and carbon neutrality by 2060, the Group has to conduct more in-depth research for low carbon & ecology business, and relevant products and services need to have major updates. Also, the Group has been actively invested in research of applying blockchain technology in the area of government big data. The Group believes the intensified research and development investment in these areas will lay a solid foundation for the Group's future growth in a long run. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥1.56, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 16x in the Software industry in Hong Kong. Total loss to shareholders of 50% over the past three years. Announcement • May 27
Sinosoft Technology Group Limited Declares Final Dividend for the Year Ended December 31, 2020 Sinosoft Technology Group Limited at the annual general meeting held on May 26, 2021 declared a final dividend of 20.05 RMB cents per ordinary share of the company for the year ended 31 December 2020 for the shareholders whose names appeared on the register of members of the Company at the close of business on 1 June 2021 was approved at the AGM. Upcoming Dividend • May 24
Upcoming dividend of CN¥0.20 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 25 June 2021. Trailing yield: 13%. Within top quartile of Hong Kong dividend payers (6.0%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥1.66, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Software industry in Hong Kong. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.63 per share. Announcement • Mar 13
Sinosoft Technology Group Limited to Report Fiscal Year 2020 Results on Mar 29, 2021 Sinosoft Technology Group Limited announced that they will report fiscal year 2020 results on Mar 29, 2021 Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥1.56, the stock is trading at a trailing P/E ratio of 6.1x, down from the previous P/E ratio of 7.4x. This compares to an average P/E of 42x in the Software industry in Hong Kong. Total return to shareholders over the past three years is a loss of 25%. Is New 90 Day High Low • Feb 05
New 90-day high: HK$1.86 The company is up 59% from its price of HK$1.17 on 06 November 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 55% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.66 per share. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥1.68, the stock is trading at a trailing P/E ratio of 6.5x, up from the previous P/E ratio of 5.6x. This compares to an average P/E of 31x in the Software industry in Hong Kong. Total return to shareholders over the past three years is a loss of 16%. Is New 90 Day High Low • Jan 18
New 90-day high: HK$1.58 The company is up 14% from its price of HK$1.39 on 20 October 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 49% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.62 per share. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥1.58, the stock is trading at a trailing P/E ratio of 6.2x, up from the previous P/E ratio of 5.3x. This compares to an average P/E of 22x in the Software industry in Hong Kong. Total return to shareholders over the past three years is a loss of 33%. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥1.53, the stock is trading at a trailing P/E ratio of 6x, up from the previous P/E ratio of 5x. This compares to an average P/E of 28x in the Software industry in Hong Kong. Total return to shareholders over the past three years is a loss of 33%. Is New 90 Day High Low • Dec 30
New 90-day high: HK$1.46 The company is up 21% from its price of HK$1.21 on 30 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Software industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.59 per share. Is New 90 Day High Low • Oct 30
New 90-day low: HK$1.15 The company is down 42% from its price of HK$2.00 on 31 July 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software 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$2.13 per share. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 17% share price gain to CN¥1.42, the stock is trading at a trailing P/E ratio of 5.7x, up from the previous P/E ratio of 4.9x. This compares to an average P/E of 20x in the Software industry in Hong Kong. Total return to shareholders over the past three years is a loss of 44%. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total profits of CN¥261.6m, up 5.2% from the prior year. Total revenue was CN¥686.7m over the last 12 months, down 8.6% from the prior year. Is New 90 Day High Low • Sep 30
New 90-day low: HK$1.21 The company is down 6.0% from its price of HK$1.29 on 02 July 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.13 per share. Announcement • Aug 11
Sinosoft Technology Group Limited to Report First Half, 2020 Results on Aug 28, 2020 Sinosoft Technology Group Limited announced that they will report first half, 2020 results on Aug 28, 2020