New Risk • Jan 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: HK$449.9m (US$57.7m) 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: Minor Risks Dividend is not well covered by cash flows (0% cash payout ratio). Market cap is less than US$100m (HK$449.9m market cap, or US$57.7m). Announcement • Jan 09
PC Partner Group Limited(SEHK:1263) dropped from S&P Global BMI Index PC Partner Group Limited(SEHK:1263) dropped from S&P Global BMI Index Upcoming Dividend • Sep 10
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 10 October 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Hong Kong dividend payers (6.6%). Higher than average of industry peers (2.4%). Announcement • Aug 22
PC Partner Group Limited Announces Interim Ordinary Dividend for the Six Months Ended 30 June 2025, Payable on October 10, 2025 PC Partner Group Limited announced an interim ordinary dividend of HKD 0.25 per share for the the six months ended 30 June 2025. Ex-dividend date 17 September 2025. Record date 19 September 2025. Payment date 10 October 2025. Declared Dividend • Aug 22
First half dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 17th September 2025 Payment date: 10th October 2025 Dividend yield will be 5.8%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 21
First half 2025 earnings released: EPS: HK$0.65 (vs HK$0.50 in 1H 2024) First half 2025 results: EPS: HK$0.65 (up from HK$0.50 in 1H 2024). Revenue: HK$6.36b (up 28% from 1H 2024). Net income: HK$250.4m (up 29% from 1H 2024). Profit margin: 3.9% (in line with 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Aug 09
PC Partner Group Limited to Report First Half, 2025 Results on Aug 19, 2025 PC Partner Group Limited announced that they will report first half, 2025 results on Aug 19, 2025 Announcement • Jul 18
PC Partner Group Limited Provides Earnings Guidance for the Six Months Ended June 30, 2025 Pc Partner Group Limited provided earnings guidance for the Six Months Ended 30 June 2025. For the period, the company the Board expects the Group to report a net profit attributable to Shareholders of approximately HKD 250 million, compared to a net profit attributable to Shareholders of approximately HKD 194 million for the six months ended 30 June 2024. The change was mainly due to a significant increase in sales revenue for the six months ended 30 June 2025 which was mainly due to a strong demand for the new RTX 50 series video graphics cards launched in the first half of 2025. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$7.66, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 33x in the Tech industry in Hong Kong. Total returns to shareholders of 61% over the past three years. Upcoming Dividend • May 09
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 16 May 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$6.85, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 31x in the Tech industry in Hong Kong. Total returns to shareholders of 16% over the past three years. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: HK$0.68 (vs HK$0.16 in FY 2023) Full year 2024 results: EPS: HK$0.68 (up from HK$0.16 in FY 2023). Revenue: HK$10.1b (up 10.0% from FY 2023). Net income: HK$262.1m (up 331% from FY 2023). Profit margin: 2.6% (up from 0.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to HK$10.48, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 17x in the Tech industry in Hong Kong. Total returns to shareholders of 46% over the past three years. Recent Insider Transactions • Mar 20
Executive Director recently sold HK$530k worth of stock On the 18th of March, Nai Nap Ho sold around 41k shares on-market at roughly HK$12.93 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$621k more than they bought in the last 12 months. New Risk • Mar 10
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 Earnings have declined by 9.4% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$9.15, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 14x in the Tech industry in Hong Kong. Total returns to shareholders of 78% over the past three years. New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings have declined by 9.4% 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 Risk Earnings have declined by 9.4% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 18
PC Partner Group Limited to Report Fiscal Year 2024 Final Results on Feb 28, 2025 PC Partner Group Limited announced that they will report fiscal year 2024 final results on Feb 28, 2025 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$6.45, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 15x in the Tech industry in Hong Kong. Total loss to shareholders of 4.1% over the past three years. Announcement • Oct 10
PC Partner Group Limited Announces Board and Committee Changes PC Partner Group Limited announced that Mr. Lai Kin Jerome has tendered his resignation as an independent non-executive Director with effect from 10 October 2024 due to health reasons. Mr. Lai has also ceased to be the chairman of the audit committee of the Board and a member of each of the remuneration committee, the nomination committee and the investment committee of the Board. Ms. Chan Yim, an independent non-executive Director, has been appointed by the Board as the chairman of the Audit Committee with effect from 10 October 2024 to fill the vacancy arising from Mr. Lai's resignation. As from 10 October 2024: the Audit Committee comprises three members: Ms. Chan Yim, Mr. Ip Shing Hing and Mr. Cheung Ying Sheung; the Remuneration Committee comprises four members: Mr. Ip Shing Hing, Mr. Cheung Ying Sheung, Ms. Chan Yim and Mr. Wong Shik Ho Tony; the Nomination Committee comprises four members: Mr. Ip Shing Hing, Mr. Cheung Ying Sheung, Ms. Chan Yim and Mr. Wong Shik Ho Tony;
and the Investment Committee comprises four members: Mr. Wong Shik Ho Tony (as chairman), Mr. Wong Fong Pak, Mr. Leung Wah Kan and Mr. Ip Shing Hing. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$4.80, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 16x in the Tech industry in Hong Kong. Total returns to shareholders of 3.9% over the past three years. Upcoming Dividend • Sep 16
Upcoming dividend of HK$0.20 per share Eligible shareholders must have bought the stock before 23 September 2024. Payment date: 16 October 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 10.0%. Within top quartile of Hong Kong dividend payers (8.7%). Higher than average of industry peers (2.6%). Declared Dividend • Aug 26
First half dividend of announced Shareholders will receive a dividend of . Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: HK$0.50 (vs HK$0.052 in 1H 2023) First half 2024 results: EPS: HK$0.50 (up from HK$0.052 in 1H 2023). Revenue: HK$4.94b (up 18% from 1H 2023). Net income: HK$194.1m (up HK$174.0m from 1H 2023). Profit margin: 3.9% (up from 0.5% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Aug 23
PC Partner Group Limited Announces Interim Dividend for the Six Months Ended June 30, 2024, Payable on 16 October 2024 PC Partner Group Limited announced interim dividend of HKD 0.2 per share for the six months ended June 30, 2024. Ex-dividend date is 23 September 2024. Record date is 27 September 2024. Payment date is 16 October 2024. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$4.40, the stock trades at a trailing P/E ratio of 28.1x. Average trailing P/E is 28x in the Tech industry in Hong Kong. Total returns to shareholders of 34% over the past three years. Announcement • Aug 14
PC Partner Group Limited to Report First Half, 2024 Results on Aug 23, 2024 PC Partner Group Limited announced that they will report first half, 2024 results on Aug 23, 2024 Buy Or Sell Opportunity • Jul 02
Now 27% undervalued Over the last 90 days, the stock has risen 47% to HK$4.29. The fair value is estimated to be HK$5.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.9% over the last 3 years. Earnings per share has declined by 38%. Upcoming Dividend • Jun 26
Upcoming dividend of HK$0.20 per share Eligible shareholders must have bought the stock before 03 July 2024. Payment date: 24 July 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.0%. Within top quartile of Hong Kong dividend payers (7.9%). Higher than average of industry peers (2.2%). Buy Or Sell Opportunity • Jun 25
Now 24% undervalued Over the last 90 days, the stock has risen 44% to HK$4.44. The fair value is estimated to be HK$5.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.9% over the last 3 years. Earnings per share has declined by 38%. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to HK$4.06, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 22x in the Tech industry in Hong Kong. Total returns to shareholders of 30% over the past three years. Announcement • Mar 15
PC Partner Group Limited, Annual General Meeting, Jun 28, 2024 PC Partner Group Limited, Annual General Meeting, Jun 28, 2024. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: HK$0.16 (vs HK$1.81 in FY 2022) Full year 2023 results: EPS: HK$0.16 (down from HK$1.81 in FY 2022). Revenue: HK$9.17b (down 15% from FY 2022). Net income: HK$60.8m (down 91% from FY 2022). Profit margin: 0.7% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Mar 15
PC Partner Group Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 24 July 2024 PC Partner Group Limited proposed Final Dividend of HKD 0.2 per share for the year ended 31 December 2023. Ex-dividend date is 03 July 2024. Record date is 09 July 2024. Payment date is 24 July 2024. Date of shareholders' approval of 28 June 2024. Announcement • Mar 02
PC Partner Group Limited to Report Fiscal Year 2023 Final Results on Mar 14, 2024 PC Partner Group Limited announced that they will report fiscal year 2023 final results on Mar 14, 2024 Announcement • Feb 01
PC Partner Group Limited Provides Consolidated Earnings Guidance for the Year Ended 31 December 2023 PC Partner Group Limited provided consolidated earnings guidance for the year ended 31 December 2023. The group is expected to record a profit attributable to Shareholders of approximately HKD 60 million for the year ended 31 December 2023 as compared to a profit attributable to Shareholders of approximately HKD 702 million for the year ended 31 December 2022. Upcoming Dividend • Sep 07
Upcoming dividend of HK$0.10 per share at 6.0% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 06 October 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (2.3%). Reported Earnings • Aug 31
First half 2023 earnings released: EPS: HK$0.052 (vs HK$2.07 in 1H 2022) First half 2023 results: EPS: HK$0.052 (down from HK$2.07 in 1H 2022). Revenue: HK$4.18b (down 37% from 1H 2022). Net income: HK$20.1m (down 98% from 1H 2022). Profit margin: 0.5% (down from 12% in 1H 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 30
PC Partner Group Limited Announces Interim Dividend for the Six Months Ended June 30, 2023, Payable on 06 October 2023 PC Partner Group Limited announced interim dividend of HKD 0.1 per share for the six months ended June 30, 2023. Ex-dividend date is 14 September 2023. Record date is 20 September 2023. Payment date is 06 October 2023. Announcement • Aug 11
PC Partner Group Limited to Report First Half, 2023 Results on Aug 29, 2023 PC Partner Group Limited announced that they will report first half, 2023 results on Aug 29, 2023 Upcoming Dividend • Jun 13
Upcoming dividend of HK$0.25 per share at 17% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 10 July 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 17%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$4.73, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 11x in the Tech industry in Hong Kong. Total returns to shareholders of 458% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: HK$1.81 (vs HK$6.21 in FY 2021) Full year 2022 results: EPS: HK$1.81 (down from HK$6.21 in FY 2021). Revenue: HK$10.8b (down 30% from FY 2021). Net income: HK$702.5m (down 70% from FY 2021). Profit margin: 6.5% (down from 15% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 68% per year whereas the company’s share price has increased by 65% per year. Recent Insider Transactions Derivative • Mar 08
Independent Non-Executive Director exercised options to buy HK$1.1m worth of stock. On the 3rd of March, Shing Hing Ip exercised options to buy 200k shares at a strike price of around HK$1.61, costing a total of HK$322k. As of today, Shing Hing currently holds no shares directly. Company insiders have collectively bought HK$420k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jan 14
PC Partner Group Limited Provides Earning Guidance for the Year Ended 31 December 2022 PC Partner Group Limited provided earning guidance for the year ended 31 December 2022. The board of directors of the Company informed the shareholders of the Company and potential investors that, based on the preliminary assessment of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2022 and the information currently available to the Board, it is expected that the profit attributable to Shareholders for the year ended 31 December 2022 amounts to approximately HK$700 million, representing a significant decline of approximately 70.5% from the profit attributable to Shareholders of HKD 2,374.3 million for the year ended 31 December 2021. The decline was mainly due to: (i) the reduction in revenue from the sales of the Group's own brand graphics cards as a result of price promotion strategy adopted by the Group to boost the sales of thecurrent models of its own brand video graphics cards and sales discounting programmes launched by the Group for the clearance of old inventories of its own brand video graphics cards in the second half of the year ended 31 December 2022; and (ii) the reduction in sales volume of the Group's own brand graphics cards as the market demand for such products has dropped. Announcement • Dec 06
PC Partner Group Limited Appoints Chan Yim as Independent Non-Executive Director, A Member of Each of the Audit Committee, the Nomination Committee and the Remuneration Committee of the Board, All with Effect from 1 January 2023 The board of directors of PC Partner Group Limited announced that Ms. Chan Yim (``Ms. Chan'') has been appointed as an independent non-executive Director, a member of each of the audit committee, the nomination committee and the remuneration committee (the ``Remuneration Committee'') of the Board, all with effect from 1 January 2023. Ms. Chan, aged 50, graduated from the Hong Kong University of Science and Technology with a bachelor's degree in Business Administration in Accounting. She is a fellow and practicing member of the Hong Kong Institute of Certified Public Accountants. Ms. Chan was appointed as company secretary of Great Wall Terroir Holdings Limited (formerly known as Great Wall Belt & Road Holdings Limited, and formerly also known as e-Kong Group Limited) (stock code: 0524) from May 2017 to March 2018. Ms. Chan has over 25 years of experience in financing, auditing, accounting and company secretarial areas. Pursuant to the letter of appointment entered into between Ms. Chan and the Company, Ms. Chan was appointed as an independent non-executive Director for a term of 3 years with effect from 1 January 2023. She is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with its articles of association. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Shing Hing Ip was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 15
Upcoming dividend of HK$0.80 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 14 October 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 49%. Within top quartile of Hong Kong dividend payers (8.3%). Higher than average of industry peers (3.3%). Reported Earnings • Aug 28
First half 2022 earnings released: EPS: HK$0 (vs HK$2.47 in 1H 2021) First half 2022 results: EPS: HK$0 (down from HK$2.47 in 1H 2021). Revenue: HK$6.61b (down 3.5% from 1H 2021). Net income: HK$802.1m (down 14% from 1H 2021). Profit margin: 12% (down from 14% in 1H 2021). The decrease in margin was driven by lower revenue. Announcement • Aug 27
PC Partner Group Limited Announces Interim Dividend for the Six Months Ended June 30, 2022, Payable on 14 October 2022 PC Partner Group Limited announced interim dividend of HKD 0.8 per share for the six months ended June 30, 2022. Ex-dividend date is 22 September 2022. Record date is 28 September 2022. Payment Date is 14 October 2022. Announcement • Aug 17
PC Partner Group Limited to Report Q2, 2022 Results on Aug 26, 2022 PC Partner Group Limited announced that they will report Q2, 2022 results on Aug 26, 2022 Upcoming Dividend • Jun 14
Upcoming dividend of HK$1.61 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 30%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 29
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: HK$6.21 (up from HK$0.56 in FY 2020). Revenue: HK$15.5b (up 99% from FY 2020). Net income: HK$2.37b (up HK$2.17b from FY 2020). Profit margin: 15% (up from 2.7% in FY 2020). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 8.4%. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 10 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Shing Hing Ip was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Apr 16
Executive Director recently bought HK$99k worth of stock On the 11th of April, Nai Ho bought around 10k shares on-market at roughly HK$9.85 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold HK$239k more in shares than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 26% share price gain to HK$9.98, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 8x in the Tech industry in Hong Kong. Total returns to shareholders of 415% over the past three years. Recent Insider Transactions • Dec 23
Independent Non-Executive Director recently sold HK$338k worth of stock On the 20th of December, Ying Cheung sold around 24k shares on-market at roughly HK$14.07 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Dec 17
Pc Partner Group Limited Provides Unaudited Consolidated Earnings Guidance for the Year Ended December 31, 2021 PC Partner Group Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2021. For the period, based on the preliminary assessment of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2021 and the information currently available to the Board, the Group is expected to record a profit attributable to Shareholders of the Company for the year ending 31 December 2021 of not less than HKD 2.0 billion, as compared with the profit attributable to Shareholders of the Company of HKD 207.3 million for the same period last year. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 19% share price gain to HK$15.30, the stock trades at a trailing P/E ratio of 5.4x. Average forward P/E is 13x in the Tech industry in Hong Kong. Total returns to shareholders of 668% over the past three years. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improved over the past week After last week's 27% share price gain to HK$15.34, the stock trades at a trailing P/E ratio of 5.4x. Average forward P/E is 12x in the Tech industry in Hong Kong. Total returns to shareholders of 501% over the past three years. Recent Insider Transactions Derivative • Nov 23
Independent Non-Executive Director exercised options to buy HK$2.8m worth of stock. On the 19th of November, Ying Cheung exercised options to buy 200k shares at a strike price of around HK$1.61, costing a total of HK$322k. As of today, Ying currently holds no shares directly. Company insiders have collectively bought HK$9.0m more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 16% share price gain to HK$9.13, the stock trades at a trailing P/E ratio of 3.2x. Average forward P/E is 13x in the Tech industry in Hong Kong. Total returns to shareholders of 238% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$8.50, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 9x in the Tech industry in Hong Kong. Total returns to shareholders of 143% over the past three years. Executive Departure • Sep 07
Company Secretary Sau Fong Leung has left the company On the 1st of September, Sau Fong Leung's tenure as Company Secretary ended. We don't have any record of a personal shareholding under Sau Fong's name. Sau Fong is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 24.33 years. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 38% share price gain to HK$7.90, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 9x in the Tech industry in Hong Kong. Total returns to shareholders of 70% over the past three years. Reported Earnings • Aug 30
First half 2021 earnings released: EPS HK$2.47 (vs HK$0.085 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$6.85b (up 108% from 1H 2020). Net income: HK$932.2m (up HK$900.4m from 1H 2020). Profit margin: 14% (up from 1.0% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 18% share price gain to HK$5.25, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 10x in the Tech industry in Hong Kong. Total loss to shareholders of 9.3% over the past three years. Announcement • Jun 22
PC Partner Group Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2021 PC Partner Group Limited provided unaudited consolidated earnings guidance for the six months ended June 30, 2021. For the six months, the Group is expected to record a profit attributable to Shareholders of the Company for the six months ended 30 June 2021 of not less than HKD 900 million, as compared with the profit attributable to Shareholders of the Company of HKD 31.7 million for the same period in last year. Upcoming Dividend • Jun 16
Upcoming dividend of HK$0.22 per share Eligible shareholders must have bought the stock before 22 June 2021. Payment date: 15 July 2021. Trailing yield: 5.4%. Lower than top quartile of Hong Kong dividend payers (6.0%). Higher than average of industry peers (2.2%). Recent Insider Transactions Derivative • Jun 01
Non-Executive Director exercised options to buy HK$766k worth of stock. On the 28th of May, Mee-Tak Wong Ho exercised options to buy 200k shares at a strike price of around HK$1.61, costing a total of HK$322k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since September 2020, Mee-Tak Wong has owned 54.85m shares directly. Company insiders have collectively bought HK$8.7m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • May 05
Co-Founder exercised options to buy HK$4.4m worth of stock. On the 30th of April, Fong Wong exercised options to buy 1m shares at a strike price of around HK$1.61, costing a total of HK$1.6m. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. Since September 2020, Fong has owned 26.64m shares directly. Company insiders have collectively bought HK$8.4m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS HK$0.56 (vs HK$0.028 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$7.76b (up 2.7% from FY 2019). Net income: HK$207.3m (up HK$197.0m from FY 2019). Profit margin: 2.7% (up from 0.1% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.