Recent Insider Transactions • May 11
Co-Founder & Executive Chairman recently sold HK$21m worth of stock On the 6th of May, Kwok Wing Cheung sold around 456k shares on-market at roughly HK$46.09 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth HK$111m. Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$474m. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$51.85, the stock trades at a trailing P/E ratio of 13.1x. Average forward P/E is 14x in the Electronic industry in Hong Kong. Total returns to shareholders of 168% over the past three years. Price Target Changed • May 03
Price target increased by 8.8% to HK$55.50 Up from HK$51.00, the current price target is an average from 2 analysts. New target price is 26% above last closing price of HK$44.12. Stock is up 103% over the past year. The company posted earnings per share of HK$3.97 last year. New Risk • May 02
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: HK$417m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (289% cash payout ratio). Large one-off items impacting financial results. Significant insider selling over the past 3 months (HK$417m sold). Recent Insider Transactions • May 01
Co-Founder & Executive Chairman recently sold HK$111m worth of stock On the 23rd of April, Kwok Wing Cheung sold around 3m shares on-market at roughly HK$44.50 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$245m. Reported Earnings • Apr 26
Full year 2025 earnings released: EPS: HK$3.97 (vs HK$1.47 in FY 2024) Full year 2025 results: EPS: HK$3.97 (up from HK$1.47 in FY 2024). Revenue: HK$45.4b (up 5.3% from FY 2024). Net income: HK$4.40b (up 170% from FY 2024). Profit margin: 9.7% (up from 3.8% in FY 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Apr 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to HK$41.68. The fair value is estimated to be HK$34.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.3%. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$39.82, the stock trades at a trailing P/E ratio of 10x. Average forward P/E is 13x in the Electronic industry in Hong Kong. Total returns to shareholders of 97% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$33.94 per share. Recent Insider Transactions • Mar 31
Co-Founder & Executive Chairman recently bought HK$347k worth of stock On the 27th of March, Kwok Wing Cheung bought around 10k shares on-market at roughly HK$34.68 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. Despite this recent buy, Kwok Wing has been a net seller over the last 12 months, reducing personal holdings by HK$7.4m. Price Target Changed • Mar 21
Price target increased by 27% to HK$51.00 Up from HK$40.00, the current price target is an average from 2 analysts. New target price is 38% above last closing price of HK$37.02. Stock is up 66% over the past year. The company posted earnings per share of HK$3.97 last year. Declared Dividend • Mar 18
Final dividend of HK$1.51 announced Shareholders will receive a dividend of HK$1.51. Ex-date: 11th June 2026 Payment date: 8th July 2026 Dividend yield will be 5.6%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 50% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.4% EPS decline seen over the last 5 years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: HK$3.97 (vs HK$1.47 in FY 2024) Full year 2025 results: EPS: HK$3.97 (up from HK$1.47 in FY 2024). Revenue: HK$45.4b (up 5.3% from FY 2024). Net income: HK$4.40b (up 170% from FY 2024). Profit margin: 9.7% (up from 3.8% in FY 2024). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 16
Kingboard Holdings Limited, Annual General Meeting, May 26, 2026 Kingboard Holdings Limited, Annual General Meeting, May 26, 2026. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$40.52, the stock trades at a trailing P/E ratio of 16.6x. Average forward P/E is 14x in the Electronic industry in Hong Kong. Total returns to shareholders of 62% over the past three years. Announcement • Feb 24
Kingboard Holdings Limited to Report Fiscal Year 2025 Results on Mar 16, 2026 Kingboard Holdings Limited announced that they will report fiscal year 2025 results on Mar 16, 2026 Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$35.80, the stock trades at a trailing P/E ratio of 14.7x. Average forward P/E is 15x in the Electronic industry in Hong Kong. Total returns to shareholders of 39% over the past three years. Upcoming Dividend • Dec 05
Upcoming dividend of HK$0.69 per share Eligible shareholders must have bought the stock before 12 December 2025. Payment date: 07 January 2026. Payout ratio is a comfortable 50% and the cash payout ratio is 78%. Trailing yield: 6.8%. Within top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (3.2%). Recent Insider Transactions • Oct 24
Co-Founder & Executive Chairman recently sold HK$21m worth of stock On the 21st of October, Kwok Wing Cheung sold around 755k shares on-market at roughly HK$27.39 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Kwok Wing has been a net buyer over the last 12 months, purchasing a net total of HK$7.7m worth of shares. Announcement • Oct 20
Kingboard Holdings Limited Announces Resignation of Chen Maosheng as an Executive Director with Effect from 17 October 2025 Kingboard Holdings Limited announced that Mr. Chen Maosheng, an Executive Director, has resigned from his directorship with effect from 17 October 2025 as he would like to devote more time to his other commitments. As at the date of this announcement, the Board of the Company consists of Messrs. Cheung Kwok Wing, Chang Wing Yiu, Cheung Kwong Kwan, Ho Yin Sang, Mr. Cheung Ka Shing, Ms. Ho Kin Fan and Mr. Chen Maosheng, being the executive directors and Messrs. Cheung Ming Man, Chong Kin Ki, Chan Wing Kee and Stanley Chung Wai Cheong, being the independent non-executive directors. Recent Insider Transactions • Sep 14
Co-Founder & Executive Chairman recently bought HK$2.7m worth of stock On the 10th of September, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$26.60 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$2.9m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$38m worth in shares. Recent Insider Transactions • Aug 30
Co-Founder & Executive Chairman recently bought HK$2.9m worth of stock On the 28th of August, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$28.62 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$3.5m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$44m worth in shares. Declared Dividend • Aug 27
First half dividend of HK$0.69 announced Shareholders will receive a dividend of HK$0.69. Ex-date: 12th December 2025 Payment date: 7th January 2026 Dividend yield will be 6.0%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (121% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Aug 26
First half 2025 earnings released: EPS: HK$2.33 (vs HK$1.36 in 1H 2024) First half 2025 results: EPS: HK$2.33 (up from HK$1.36 in 1H 2024). Revenue: HK$21.6b (up 5.8% from 1H 2024). Net income: HK$2.58b (up 71% from 1H 2024). Profit margin: 12% (up from 7.4% in 1H 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Jul 31
Price target increased by 16% to HK$32.30 Up from HK$27.80, the current price target is an average from 2 analysts. New target price is 15% above last closing price of HK$28.10. Stock is up 80% over the past year. The company posted earnings per share of HK$1.47 last year. Announcement • Jul 25
Kingboard Holdings Limited to Report First Half, 2025 Results on Aug 25, 2025 Kingboard Holdings Limited announced that they will report first half, 2025 results on Aug 25, 2025 Recent Insider Transactions • Jul 14
Co-Founder & Executive Chairman recently sold HK$11m worth of stock On the 8th of July, Kwok Wing Cheung sold around 430k shares on-market at roughly HK$25.77 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth HK$13m. Despite the recent sale, Kwok Wing has been a net buyer over the last 12 months, purchasing a net total of HK$47m worth of shares. Recent Insider Transactions • Jul 10
Co-Founder & Executive Chairman recently sold HK$13m worth of stock On the 4th of July, Kwok Wing Cheung sold around 501k shares on-market at roughly HK$25.61 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Kwok Wing has been a net buyer over the last 12 months, purchasing a net total of HK$49m worth of shares. Recent Insider Transactions • Jun 25
Co-Founder & Executive Chairman recently bought HK$950k worth of stock On the 23rd of June, Kwok Wing Cheung bought around 40k shares on-market at roughly HK$23.75 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, there was an even bigger purchase from another insider worth HK$19m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$73m worth in shares. Upcoming Dividend • Jun 04
Upcoming dividend of HK$1.00 per share Eligible shareholders must have bought the stock before 11 June 2025. Payment date: 04 July 2025. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 6.8%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.6%). Recent Insider Transactions • Jun 03
Co-Founder & Executive Chairman recently bought HK$2.3m worth of stock On the 29th of May, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$22.51 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, there was an even bigger purchase from another insider worth HK$19m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$65m worth in shares. Recent Insider Transactions • May 24
Co-Founder & Executive Chairman recently bought HK$3.0m worth of stock On the 20th of May, Kwok Wing Cheung bought around 135k shares on-market at roughly HK$22.52 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$19m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$62m worth in shares. Reported Earnings • Apr 23
Full year 2024 earnings released: EPS: HK$1.47 (vs HK$1.86 in FY 2023) Full year 2024 results: EPS: HK$1.47 (down from HK$1.86 in FY 2023). Revenue: HK$43.1b (up 8.5% from FY 2023). Net income: HK$1.63b (down 21% from FY 2023). Profit margin: 3.8% (down from 5.2% in FY 2023). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Apr 11
Board Member recently bought HK$19m worth of stock On the 7th of April, Yin Sang Ho bought around 1m shares on-market at roughly HK$19.26 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$74m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$18.70, the stock trades at a trailing P/E ratio of 12.7x. Average forward P/E is 8x in the Electronic industry in Hong Kong. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$17.96 per share. Declared Dividend • Mar 26
Final dividend of HK$1.00 announced Shareholders will receive a dividend of HK$1.00. Ex-date: 11th June 2025 Payment date: 4th July 2025 Dividend yield will be 6.3%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 29% to shift the payout ratio to a potentially unsustainable range, which is more than the 12% EPS decline seen over the last 5 years. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: HK$1.47 (vs HK$1.86 in FY 2023) Full year 2024 results: EPS: HK$1.47 (down from HK$1.86 in FY 2023). Revenue: HK$43.1b (up 8.5% from FY 2023). Net income: HK$1.63b (down 21% from FY 2023). Profit margin: 3.8% (down from 5.2% in FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$23.45, the stock trades at a trailing P/E ratio of 11.9x. Average forward P/E is 10x in the Electronic industry in Hong Kong. Total loss to shareholders of 23% over the past three years. Announcement • Feb 05
Kingboard Holdings Limited to Report Fiscal Year 2024 Results on Mar 24, 2025 Kingboard Holdings Limited announced that they will report fiscal year 2024 results on Mar 24, 2025 Recent Insider Transactions • Jan 10
Co-Founder & Executive Chairman recently bought HK$549k worth of stock On the 7th of January, Kwok Wing Cheung bought around 30k shares on-market at roughly HK$18.30 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$8.5m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$57m worth in shares. Recent Insider Transactions • Dec 11
Co-Founder & Executive Chairman recently bought HK$3.9m worth of stock On the 6th of December, Kwok Wing Cheung bought around 208k shares on-market at roughly HK$19.01 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$8.5m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$57m worth in shares. Upcoming Dividend • Dec 06
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 13 December 2024. Payment date: 08 January 2025. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Hong Kong dividend payers (8.1%). In line with average of industry peers (2.9%). Recent Insider Transactions • Nov 22
Co-Founder & Executive Chairman recently bought HK$963k worth of stock On the 20th of November, Kwok Wing Cheung bought around 50k shares on-market at roughly HK$19.26 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$8.5m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$54m worth in shares. Recent Insider Transactions • Nov 13
Co-Founder & Executive Chairman recently bought HK$8.5m worth of stock On the 7th of November, Kwok Wing Cheung bought around 428k shares on-market at roughly HK$19.75 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$53m worth in shares. Recent Insider Transactions • Oct 30
Co-Founder & Executive Chairman recently bought HK$970k worth of stock On the 25th of October, Kwok Wing Cheung bought around 50k shares on-market at roughly HK$19.40 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$4.8m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$44m worth in shares. Recent Insider Transactions • Oct 22
Co-Founder & Executive Chairman recently bought HK$1.9m worth of stock On the 18th of October, Kwok Wing Cheung bought around 100k shares on-market at roughly HK$18.69 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$4.8m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$43m worth in shares. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$19.50, the stock trades at a trailing P/E ratio of 9.9x. Average forward P/E is 11x in the Electronic industry in Hong Kong. Total loss to shareholders of 34% over the past three years. Recent Insider Transactions • Oct 05
Co-Founder & Executive Chairman recently bought HK$1.0m worth of stock On the 2nd of October, Kwok Wing Cheung bought around 50k shares on-market at roughly HK$20.60 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$4.8m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$45m worth in shares. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$18.74, the stock trades at a trailing P/E ratio of 9.5x. Average forward P/E is 9x in the Electronic industry in Hong Kong. Total loss to shareholders of 36% over the past three years. Recent Insider Transactions • Sep 11
Co-Founder & Executive Chairman recently bought HK$937k worth of stock On the 9th of September, Kwok Wing Cheung bought around 63k shares on-market at roughly HK$14.88 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. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$53m worth in shares. Price Target Changed • Aug 28
Price target decreased by 10.0% to HK$27.00 Down from HK$30.00, the current price target is provided by 1 analyst. New target price is 69% above last closing price of HK$15.94. Stock is down 8.3% over the past year. The company posted earnings per share of HK$1.86 last year. Declared Dividend • Aug 28
First half dividend of HK$0.40 announced Shareholders will receive a dividend of HK$0.40. Ex-date: 13th December 2024 Payment date: 8th January 2025 Dividend yield will be 4.8%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 57% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.8% EPS decline seen over the last 5 years. Reported Earnings • Aug 27
First half 2024 earnings released: EPS: HK$1.36 (vs HK$1.25 in 1H 2023) First half 2024 results: EPS: HK$1.36 (up from HK$1.25 in 1H 2023). Revenue: HK$20.4b (up 9.1% from 1H 2023). Net income: HK$1.51b (up 8.4% from 1H 2023). Profit margin: 7.4% (in line with 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Announcement • Aug 26
Kingboard Holdings Limited Announces Interim Cash Dividend for the Six Months Ended June 30, 2024, Payable on 08 January 2025 Kingboard Holdings Limited announced cash interim dividend of HKD 0.4 per share for the six months ended June 30, 2024. Ex-dividend date is 13 December 2024. Record date is 18 December 2024. Payment date is 08 January 2025. Announcement • Aug 02
Kingboard Holdings Limited to Report First Half, 2024 Results on Aug 26, 2024 Kingboard Holdings Limited announced that they will report first half, 2024 results on Aug 26, 2024 Buy Or Sell Opportunity • Jun 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to HK$18.86. The fair value is estimated to be HK$15.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 37%. Recent Insider Transactions • Jun 11
Co-Founder & Executive Chairman recently bought HK$995k worth of stock On the 5th of June, Kwok Wing Cheung bought around 51k shares on-market at roughly HK$19.50 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$5.1m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$76m worth in shares. Upcoming Dividend • Jun 05
Upcoming dividend of HK$0.36 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 28% and the cash payout ratio is 90%. Trailing yield: 2.7%. Lower than top quartile of Hong Kong dividend payers (7.6%). Lower than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$19.92, the stock trades at a trailing P/E ratio of 10.7x. Average forward P/E is 10x in the Electronic industry in Hong Kong. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$15.30 per share. Buy Or Sell Opportunity • May 06
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to HK$19.92. The fair value is estimated to be HK$15.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 37%. Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: HK$1.86 (vs HK$3.30 in FY 2022) Full year 2023 results: EPS: HK$1.86 (down from HK$3.30 in FY 2022). Revenue: HK$39.7b (down 20% from FY 2022). Net income: HK$2.06b (down 44% from FY 2022). Profit margin: 5.2% (down from 7.4% in FY 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Apr 11
Co-Founder & Executive Chairman recently bought HK$1.8m worth of stock On the 8th of April, Kwok Wing Cheung bought around 113k shares on-market at roughly HK$15.66 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$2.6m. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$63m worth in shares. Recent Insider Transactions • Mar 22
Co-Founder & Executive Chairman recently bought HK$2.6m worth of stock On the 20th of March, Kwok Wing Cheung bought around 150k shares on-market at roughly HK$17.11 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwok Wing has been a buyer over the last 12 months, purchasing a net total of HK$59m worth in shares. Announcement • Mar 20
Kingboard Holdings Limited, Annual General Meeting, May 27, 2024 Kingboard Holdings Limited, Annual General Meeting, May 27, 2024. Agenda: To consider the final dividend of HK36 cents per share. Declared Dividend • Mar 20
Final dividend of HK$0.36 announced Shareholders will receive a dividend of HK$0.36. Ex-date: 12th June 2024 Payment date: 5th July 2024 Dividend yield will be 6.0%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 69% to shift the payout ratio to a potentially unsustainable range, which is more than the 20% EPS decline seen over the last 5 years.