Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$3.24, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 8x in the Software industry in Hong Kong. Total returns to shareholders of 8.7% over the past three years. Major Estimate Revision • Apr 02
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from HK$3.77b to HK$3.44b. EPS estimate also fell from HK$0.115 per share to HK$0.099 per share. Net income forecast to grow 37% next year vs 88% growth forecast for Software industry in Hong Kong. Consensus price target down from HK$7.44 to HK$6.36. Share price fell 7.9% to HK$3.51 over the past week. Reported Earnings • Mar 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.083 (up from HK$0.063 in FY 2024). Revenue: HK$2.87b (up 20% from FY 2024). Net income: HK$199.3m (up 40% from FY 2024). Profit margin: 6.9% (up from 5.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 1.0%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 11
Vobile Group Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 Vobile Group Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$4.63, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 42x in the Software industry in Hong Kong. Total returns to shareholders of 13% over the past three years. New Risk • Feb 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 9.6% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$5.08, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 44x in the Software industry in Hong Kong. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$5.25, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 31x in the Software industry in Hong Kong. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$5.01, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 29x in the Software industry in Hong Kong. Total returns to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$4.90, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 29x in the Software industry in Hong Kong. Total returns to shareholders of 146% over the past three years. Reported Earnings • Oct 06
First half 2025 earnings: EPS and revenues exceed analyst expectations First half 2025 results: EPS: HK$0.044 (up from HK$0.018 in 1H 2024). Revenue: HK$1.46b (up 23% from 1H 2024). Net income: HK$102.3m (up 147% from 1H 2024). Profit margin: 7.0% (up from 3.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$6.32, the stock trades at a forward P/E ratio of 69x. Average forward P/E is 32x in the Software industry in Hong Kong. Total returns to shareholders of 211% over the past three years. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$5.36, the stock trades at a forward P/E ratio of 58x. Average forward P/E is 31x in the Software industry in Hong Kong. Total returns to shareholders of 85% over the past three years. Reported Earnings • Aug 31
First half 2025 earnings: EPS and revenues exceed analyst expectations First half 2025 results: EPS: HK$0.044 (up from HK$0.018 in 1H 2024). Revenue: HK$1.46b (up 23% from 1H 2024). Net income: HK$102.3m (up 147% from 1H 2024). Profit margin: 7.0% (up from 3.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
Vobile Group Limited to Report First Half, 2025 Results on Aug 28, 2025 Vobile Group Limited announced that they will report first half, 2025 results on Aug 28, 2025 Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$4.18, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 0x in the Software industry in Hong Kong. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$3.74, the stock trades at a forward P/E ratio of 48x. Average trailing P/E is 28x in the Software industry in Hong Kong. Total loss to shareholders of 14% over the past three years. Announcement • Jun 27
Vobile Group Limited Announces Board Changes Vobile Group Limited at its AGM held on June 27, 2025, Mr. J David WARGO has retired as a non-executive director of the Company at the AGM and did not offer himself for re-election due to his other personal commitment. Mr. J David WARGO has confirmed that he has no disagreement with the Board and that there are no matters relating to his retirement that need to be brought to the attention of the Shareholders. Following the retirement of Mr. J David WARGO, the composition of the Board committees is as follows: Nomination Committee: Mr. Yangbin Bernard WANG (Chairman), Ms. CHAN, Laverna Jun Lin, Mr. Alfred Tsai CHU, Mr. Charles Eric EESLEY, Mr. KWAN Ngai Kit; Remuneration Committee: Mr. Charles Eric EESLEY (Chairman), Mr. Alfred Tsai CHU, Mr. KWAN Ngai Kit, Mr. Yangbin Bernard WANG, Mr. WONG Wai Kwan; Audit Committee: Mr. KWAN Ngai Kit (Chairman), Mr. Alfred Tsai CHU, Mr. Charles Eric EESLEY. Announcement • Jun 04
Vobile Group Limited has completed a Follow-on Equity Offering in the amount of HKD 521.64 million. Vobile Group Limited has completed a Follow-on Equity Offering in the amount of HKD 521.64 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 138,000,000
Price\Range: HKD 3.78
Transaction Features: Subsequent Direct Listing Announcement • May 29
Vobile Group Limited, Annual General Meeting, Jun 27, 2025 Vobile Group Limited, Annual General Meeting, Jun 27, 2025, at 09:00 China Standard Time. Location: rooms 1101-02, 11/f, euro trade centre, 13-14 connaught road central, central, Hong Kong Announcement • May 27
Vobile Group Limited has filed a Follow-on Equity Offering in the amount of HKD 521.64 million. Vobile Group Limited has filed a Follow-on Equity Offering in the amount of HKD 521.64 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 138,000,000
Price\Range: HKD 3.78
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$3.97, the stock trades at a forward P/E ratio of 51x. Average trailing P/E is 26x in the Software industry in Hong Kong. Total returns to shareholders of 1.3% over the past three years. Reported Earnings • May 06
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: HK$0.063 (up from HK$0.004 loss in FY 2023). Revenue: HK$2.40b (up 20% from FY 2023). Net income: HK$142.7m (up HK$150.5m from FY 2023). Profit margin: 5.9% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 133%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Apr 14
Vobile Group Limited (SEHK:3738) acquired Pexeso Inc. Vobile Group Limited (SEHK:3738) acquired Pexeso Inc on April 14, 2025. The Pex team has joined Vobile subsequent to the acquisition.
Vobile Group Limited (SEHK:3738) completed the acquisition of Pexeso Inc on April 14, 2025. Major Estimate Revision • Apr 08
Consensus EPS estimates increase by 63%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from HK$3.04b to HK$2.97b. EPS estimate rose from HK$0.052 to HK$0.085. Net income forecast to grow 56% next year vs 53% growth forecast for Software industry in Hong Kong. Consensus price target broadly unchanged at HK$7.82. Share price fell 20% to HK$3.17 over the past week. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to HK$3.01, the stock trades at a forward P/E ratio of 57x. Average trailing P/E is 25x in the Software industry in Hong Kong. Total loss to shareholders of 23% over the past three years. Reported Earnings • Mar 30
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: HK$0.063 (up from HK$0.004 loss in FY 2023). Revenue: HK$2.40b (up 20% from FY 2023). Net income: HK$142.7m (up HK$150.5m from FY 2023). Profit margin: 5.9% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 133%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 27
Vobile, Inc. Unveils DreamMaker Vobile Inc. announced the launch of DreamMaker, a platform that combines AI-powered creative video production with its copyright protection and monetization solutions. Built on top of NVIDIA Media2 technologies and leveraging NVIDIA accelerated infrastructure, DreamMaker empowers independent creators to generate, compose and publish short video content efficiently while ensuring copyright compliance to unlock revenue streams. Key features of DreamMaker include: Seamless Integration of Multimodal AI Models: Access to multiple generative AI models along with NVIDIA Media2 resources to create content. Comprehensive Production Suite: A set of powerful AI tools for video creation to streamline workflows. Built-in Copyright Protection: digital fingerprinting and watermarking technologies to ensure copyright compliance. One-Click Monetization: Turn creativity into revenue with the Vobile MAX platform. Increased revenue opportunities give strong incentives for independent creators to focus on storytelling. Supercharged Production with NVIDIA accelerated Infrastructure: Un unparalleled performance accelerated by Blackwell to boost revenue and profit for independent creators. Independent creators are adopting generative AI for their work but face several challenges, including cost, complex workflows, limited access to gen AI computing resources, and inadequate copyright protection and monetization. DreamMaker transforms the landscape by offering a variety of AI content generation tools with integrated copyright protection and seamless monetization. Vobile's industry-leading expertise in content protection and monetization, trusted by long-time customers including major Hollywood studios and TV networks, positions DreamMaker as a game-changing solution for the future entertainment ecosystem. Announcement • Mar 10
Vobile Group Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Vobile Group Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Announcement • Feb 19
Vobile Group Limited announced that it expects to receive HKD 234.08 million in funding from Honour International Investment (HK) Limited Vobile Group Limited New Risk • Feb 17
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 14% 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 (14% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (0.2% net profit margin). Buy Or Sell Opportunity • Jan 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to HK$3.16. The fair value is estimated to be HK$2.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 2,786% in the next 2 years. Announcement • Jan 09
Vobile Group Limited Provides Content Management Services for Generative AI Ecosystem Vobile Group Limited announced its new product offering of copyright management services for generative AI ecosystem. The advancement of generative AI, accelerated by the exponential growth of GPU performances, is forcing disruptive changes in the $3 trillion media and entertainment industry. Protecting intellectual property rights is essential for the future success of the media and entertainment industry in digital economy. The generative AI ecosystem is a dynamic environment that uses artificial intelligence to create new content, such as text, images, audio, and videos. It is growing exponentially and continuously accelerated by the rapid advancement of AI. An exhibitor at CES 2025, Vobile has demonstrations in the ARIA Hospitality Suites to showcase its seamless watermarking software capabilities with live video content produced by generative AI, running on NVIDIA GPUs in the cloud. Buy Or Sell Opportunity • Oct 31
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 180% to HK$3.50. The fair value is estimated to be HK$2.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 2,493% in the next 2 years. Reported Earnings • Oct 03
First half 2024 earnings: EPS and revenues exceed analyst expectations First half 2024 results: EPS: HK$0.018 (up from HK$0.013 in 1H 2023). Revenue: HK$1.18b (up 18% from 1H 2023). Net income: HK$41.5m (up 42% from 1H 2023). Profit margin: 3.5% (up from 2.9% in 1H 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. New Risk • Oct 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: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Major Estimate Revision • Sep 11
Consensus EPS estimates fall by 47%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from HK$2.46b to HK$2.49b. EPS estimate fell from HK$0.029 to HK$0.016 per share. Net income forecast to grow 2,570% next year vs 68% growth forecast for Software industry in Hong Kong. Consensus price target broadly unchanged at HK$6.49. Share price was steady at HK$1.48 over the past week. Announcement • Aug 14
Vobile Group Limited to Report First Half, 2024 Results on Aug 30, 2024 Vobile Group Limited announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • Apr 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% 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: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Mar 26
Full year 2023 earnings released: HK$0.004 loss per share (vs HK$0.02 profit in FY 2022) Full year 2023 results: HK$0.004 loss per share (down from HK$0.02 profit in FY 2022). Revenue: HK$2.00b (up 39% from FY 2022). Net loss: HK$7.82m (down 119% from profit in FY 2022). Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 35% per year whereas the company’s share price has fallen by 33% per year. Announcement • Mar 05
Vobile Group Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 Vobile Group Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 New Risk • Feb 19
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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$1.70, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 27x in the Software industry in Asia. Total loss to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.57 per share. Buying Opportunity • Jan 17
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be HK$2.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 72% in 2 years. Earnings is forecast to grow by 413% in the next 2 years. Buying Opportunity • Oct 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be HK$2.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 70% in 2 years. Earnings is forecast to grow by 544% in the next 2 years. Buying Opportunity • Sep 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be HK$2.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 69% in 2 years. Earnings is forecast to grow by 544% in the next 2 years. Reported Earnings • Aug 30
First half 2023 earnings released: EPS: HK$0.013 (vs HK$0.011 in 1H 2022) First half 2023 results: EPS: HK$0.013 (up from HK$0.011 in 1H 2022). Revenue: HK$1.00b (up 80% from 1H 2022). Net income: HK$29.2m (up 23% from 1H 2022). Profit margin: 2.9% (down from 4.3% in 1H 2022). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Software industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Announcement • Aug 16
Vobile Group Limited to Report First Half, 2023 Results on Aug 28, 2023 Vobile Group Limited announced that they will report first half, 2023 results on Aug 28, 2023 Announcement • Jul 23
Vobile Group Limited Approves the Appointment of Tang Yi Hoi as Vice-Chairman of the Board The Annual General Meeting of Vobile Group Limited held on 30 June 2023 elected Mr. TANG Yi Hoi Hermes as a non-executive director of the Company. Mr. Tang’s appointment as a non-executive director of the Company is subject to the approval from the Civil Service Bureau. Mr. Tang will be designated as Vice-Chairman of the board of directors of the Company upon the appointment. The appointment of Mr. Tang as a non-executive director of the Company and ViceChairman of the Board became effective on 18 July 2023, which is the date of the approval letter. Announcement • Jul 01
Vobile Group Limited Announces Board Changes Vobile Group Limited at its AGM held on 30 June 2023 appointed Mr. TANG Yi Hoi Hermes as a non-executive director, the appointment of Mr. TANG Yi Hoi Hermes is subject to the approval from the Civil Service Bureau. Mr. MATSUZAWA Masaaki has retired as an executive director of the Company at the AGM and did not offer himself for re-election due to change of job assignments. Upon the retirement of Mr. MATSUZAWA Masaaki, Mr. WONG Wai Kwan is re-designated as an executive director. In accordance with Rule 3.21 of the Listing Rules, Mr. WONG Wai Kwan ceased to be a member of the Audit Committee. Mr. MATSUZAWA Masaaki has confirmed that he has no disagreement with the Board and that there are no matters relating to his retirement that need to be brought to the attention of the Shareholders. Following the retirement of Mr. MATSUZAWA Masaaki, the composition of the Board committees are as follows: Nomination Committee: Mr. Alfred Tsai CHU (Chairman), Mr. CHAN Ching Yan Daniel, Mr. Charles Eric EESLEY, Mr. KWAN Ngai Kit, Mr. Yangbin Bernard WANG. Remuneration Committee: Mr. Charles Eric EESLEY (Chairman), Mr. Alfred Tsai CHU, Mr. KWAN Ngai Kit, Mr. J David WARGO, Mr. Yangbin Bernard WANG. Audit Committee: Mr. KWAN Ngai Kit (Chairman), Mr. Alfred Tsai CHU, Mr. Charles Eric EESLEY, Mr. J David WARGO. Buying Opportunity • Jun 21
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be HK$3.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 65% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 30% per annum. Earnings is also forecast to grow by 58% per annum over the same time period. Announcement • May 31
Vobile Group Limited, Annual General Meeting, Jun 30, 2023 Vobile Group Limited, Annual General Meeting, Jun 30, 2023, at 09:00 China Standard Time. Location: Room 815-818,8/F, China Insurance Group Building, No. 141 Des Voeux Road Central Hong Kong Agenda: To receive the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and the independent auditors of the Company for the year ended 31 December 2022; to appoint Mr. TANG Yi Hoi Hermes as a non-executive director; to authorise the board of Directors to fix the Directors' remuneration; to re-appoint Ernst & Young as auditors of the Company and to authorise the Board to fix their remuneration; and to consider any other matters. Buying Opportunity • May 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 39%. The fair value is estimated to be HK$3.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 65% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 30% per annum. Earnings is also forecast to grow by 59% per annum over the same time period. Reported Earnings • May 04
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: HK$0.02 (up from HK$0.012 loss in FY 2021). Revenue: HK$1.44b (up 110% from FY 2021). Net income: HK$42.0m (up HK$64.7m from FY 2021). Profit margin: 2.9% (up from net loss in FY 2021). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Software 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 increased by 82% per year, which means it is well ahead of earnings. Reported Earnings • Apr 01
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: HK$0.02 (up from HK$0.012 loss in FY 2021). Revenue: HK$1.44b (up 110% from FY 2021). Net income: HK$42.0m (up HK$64.7m from FY 2021). Profit margin: 2.9% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Software 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 increased by 86% per year, which means it is well ahead of earnings. Announcement • Feb 09
Vobile Group Limited has completed a Follow-on Equity Offering in the amount of HKD 470.20324 million. Vobile Group Limited has completed a Follow-on Equity Offering in the amount of HKD 470.20324 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 114,127,000
Price\Range: HKD 4.12
Transaction Features: Subsequent Direct Listing 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. 5 non-independent directors. Independent Non-Executive Director Ngai Kit Kwan 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 • Oct 05
First half 2022 earnings released: EPS: HK$0.011 (vs HK$0.012 in 1H 2021) First half 2022 results: EPS: HK$0.011. Revenue: HK$556.1m (up 74% from 1H 2021). Net income: HK$23.7m (up 2.6% from 1H 2021). Profit margin: 4.3% (down from 7.2% in 1H 2021). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Software industry in Hong Kong. Recent Insider Transactions • Sep 22
Non-Executive Director recently bought HK$1.6m worth of stock On the 19th of September, J. Wargo bought around 625k shares on-market at roughly HK$2.53 per share. This transaction amounted to less than 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. Insiders have collectively bought HK$14m more in shares than they have sold in the last 12 months. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: HK$0.014 (vs HK$0.012 in 1H 2021) First half 2022 results: EPS: HK$0.014 (up from HK$0.012 in 1H 2021). Revenue: HK$556.1m (up 74% from 1H 2021). Net income: HK$23.7m (up 2.6% from 1H 2021). Profit margin: 4.3% (down from 7.2% in 1H 2021). Over the next year, revenue is forecast to grow 79%, compared to a 35% growth forecast for the Software industry in Hong Kong. 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 79% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 20
Vobile Group Limited to Report First Half, 2022 Results on Aug 31, 2022 Vobile Group Limited announced that they will report first half, 2022 results on Aug 31, 2022 Announcement • Aug 02
Vobile Group Limited announced that it expects to receive HKD 117 million in funding from Lucion International Investment Limited Vobile Group Limited announced that it has entered into a subscription agreement for the private placement of convertible bonds for the gross proceeds of HKD 117,000,000 on July 31, 2022. The transaction will include participation from Lucion International Investment Limited. The convertible bonds will be convertible into 21,992,481 shares with initial conversion price of HK 5.32. The bonds will bear interest of 4% per annum, payable annually in arrears and will mature after three years from the issue date. The company will pay to the investor a non-refundable handling fee, which is equal to 1.5% of the issue price. Board Change • Jul 06
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 Ngai Kit Kwan 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 • Jul 01
Vobile Group Limited Announces Board Changes The Board of Vobile Group Limited announced that Mr. CHAN Ching Yan Daniel has been appointed as a non-executive director and a member of the Nomination Committee of the Company with effect from the conclusion of the AGM held on 30 June 2022. The biographical details of Mr. CHAN Ching Yan Daniel are set out in the Circular, and remain accurate as at the date of this announcement. Mr. CHAN Ching Yan Daniel has entered into a service contract with the Company for a term of three years commencing from the conclusion of the AGM. The remuneration of Mr. CHAN Ching Yan Daniel will be determined with reference to the prevailing market conditions, director's duties and responsibilities and performance and results of the Group. Save as disclosed in this announcement, Mr. CHAN Ching Yan Daniel does not hold any other position with the Company or other members of the Company's group. There are no other matters that need to be brought to the attention of the Shareholders in relation to the appointments of Mr. CHAN Ching Yan Daniel. Mr. CHAN King Man Kevin has retired as an independent non-executive director of the Company at the AGM and not to offer himself for re-election due to his job obligations and personal commitments. Upon his retirement, Mr. CHAN King Man Kevin ceased to be the chairman of the Nomination Committee and a member of the Remuneration Committee of the Company. Mr. CHAN King Man Kevin has confirmed that he has no disagreement with the Board and that there are no matters relating to his retirement that need to be brought to the attention of the Shareholders. Following the retirement of Mr. CHAN King Man Kevin and appointment of Mr. CHAN Ching Yan Daniel, the composition of the Board committees are as follows: Nomination Committee: Mr. Alfred Tsai CHU (Chairman), Mr. CHAN Ching Yan Daniel, Mr. Charles Eric EESLEY, Mr. KWAN Ngai Kit, Mr. Yangbin Bernard WANG. Remuneration Committee: Mr. Charles Eric EESLEY (Chairman), Mr. Alfred Tsai CHU, Mr. J David WARGO, Mr. KWAN Ngai Kit, Mr. Yangbin Bernard WANG. Audit Committee: Mr. KWAN Ngai Kit (Chairman), Mr. Alfred Tsai CHU, Mr. Charles Eric EESLEY, Mr. J David WARGO, Mr. WONG Wai Kwan. Announcement • May 31
Vobile Group Limited, Annual General Meeting, Jun 30, 2022 Vobile Group Limited, Annual General Meeting, Jun 30, 2022, at 09:00 China Standard Time. Location: United Conference Centre, 10/F, United Centre, 95 Queensway Admirality Hong Kong Agenda: To receive the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors (the ``Directors'') and of the independent auditors for the year ended 31 December 2021;to re-elect Mr. WONG Wai Kwan as a non-executive Director;to re-elect Mr. Charles Eric EESLEY as an independent non-executive Director;to appoint Mr. CHAN Ching Yan Daniel as a non-executive Director;to authorise the board of Directors (the ``Board'') to fix the directors' remuneration;to re-appoint Ernst & Young as auditors of the Company and to authorize the Board to fix their remuneration and to consider other matters. Recent Insider Transactions • Apr 27
Non-Executive Director recently bought HK$3.6m worth of stock On the 19th of April, J. Wargo bought around 928k shares on-market at roughly HK$3.92 per share. In the last 3 months, they made an even bigger purchase worth HK$4.3m. Insiders have collectively bought HK$17m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 01
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: HK$686.5m (up 102% from FY 2020). Net loss: HK$22.7m (down 128% from profit in FY 2020). Revenue exceeded analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 50%, compared to a 30% growth forecast for the industry in Hong Kong. Buying Opportunity • Mar 15
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 49%. The fair value is estimated to be HK$4.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% per annum over the last 3 years. The company has become profitable over the last 3 years. Recent Insider Transactions • Jan 08
Chairman & CEO recently bought HK$4.5m worth of stock On the 5th of January, Yangbin Wang bought around 800k shares on-market at roughly HK$5.67 per share. This was the largest purchase by an insider in the last 3 months. Yangbin has been a buyer over the last 12 months, purchasing a net total of HK$21m worth in shares. Major Estimate Revision • Jan 03
Consensus forecasts updated The consensus outlook for 2021 has been updated. Software industry in Hong Kong expected to see average net income growth of 35% next year. Consensus price target broadly unchanged at HK$12.88. Share price fell 3.4% to HK$6.30 over the past week.