Announcement • May 30
Trio Industrial Electronics Group Limited Announces Board and Board Committee Retirements Trio Industrial Electronics Group Limited at its Annual General Meeting held on May 28, 2026, announced that Mr. Kwan Tak Sum Stanley ("Mr. Kwan"), although eligible, did not offer himself for re-election at the 2026 AGM due to his retirement; and Mr. Leung Tak Ho ("Mr. Leung"), although eligible, did not offer himself for re-election at the 2026 AGM so as to focus on to his other business commitments. Accordingly, Mr. Kwan has retired by rotation as a non-executive Director and Mr. Leung has retired by rotation as an executive Director at the conclusion of the 2026 AGM. Following the retirement of Mr. Kwan, simultaneously, Mr. Kwan has ceased to be a member of the Remuneration
Committee. Each of Mr. Kwan and Mr. Leung confirmed in writing that he had no disagreement with the Board and there were no matters that need to be brought to the attention of the Shareholders relating to his decision of not offering himself for re-election at the 2026 AGM. Reported Earnings • Mar 28
Full year 2025 earnings released: HK$0.035 loss per share (vs HK$0.009 profit in FY 2024) Full year 2025 results: HK$0.035 loss per share (down from HK$0.009 profit in FY 2024). Revenue: HK$775.3m (down 23% from FY 2024). Net loss: HK$35.4m (down HK$44.0m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Announcement • Mar 28
Trio Industrial Electronics Group Limited, Annual General Meeting, May 28, 2026 Trio Industrial Electronics Group Limited, Annual General Meeting, May 28, 2026. New Risk • Mar 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$330.0m market cap, or US$42.2m). Buy Or Sell Opportunity • Mar 17
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 2.5% to HK$0.25. The fair value is estimated to be HK$0.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Mar 16
Trio Industrial Electronics Group Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 Trio Industrial Electronics Group Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 Buy Or Sell Opportunity • Jan 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to HK$0.23. The fair value is estimated to be HK$0.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Jan 02
Trio Industrial Electronics Group Limited Announces Chief Financial Officer Changes, Effective 1 January 2026 The board of directors of Trio Industrial Electronics Group Limited announced that Mr. Leung Tak Ho (‘Mr. Leung’) has tendered his resignation as the chief financial officer of the Company while he will remain as an executive Director; and Mr. Yeung Pak Keung (‘Mr. Yeung’) has been appointed as the Chief Financial Officer, both with effect from 1 January 2026. Mr. Leung will continue to serve as an executive Director of the Company. Mr. Yeung, aged 53, joined Trio Engineering Company Limited, as the chief financial officer in November 2025 and is primarily responsible for overseeing the financial and accounting functions of the Group. Mr. Yeung has over 25 years of experience in audit, financial management, accounting and financial consulting related areas. Mr. Yeung previously served as a senior manager in assurance services at Ernst and Young, where he had worked for over 10 years. After that, he had worked as financial controller and chief financial officer in entities of various industries and had worked as a principal in a consulting company. Prior to joining the Group, Mr. Yeung was the chief financial officer and company secretary of a company listed on the Stock Exchange. Mr. Yeung graduated from the Hong Kong Polytechnic University with a bachelor degree in accountancy in 1996. He is also a fellow of the Hong Kong Institute of Certified Public Accountants and a fellow of the Association of Chartered Certified Accountants. Buy Or Sell Opportunity • Nov 10
Now 50% overvalued after recent price rise Over the last 90 days, the stock has risen 73% to HK$0.28. The fair value is estimated to be HK$0.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Sep 24
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 92% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (HK$231.0m market cap, or US$29.7m). New Risk • Sep 09
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 Dividend is not well covered by earnings (106% payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$218.0m market cap, or US$28.0m). Reported Earnings • Aug 31
First half 2025 earnings released: HK$0.015 loss per share (vs HK$0.026 loss in 1H 2024) First half 2025 results: HK$0.015 loss per share (improved from HK$0.026 loss in 1H 2024). Revenue: HK$404.7m (up 4.0% from 1H 2024). Net loss: HK$14.8m (loss narrowed 43% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Aug 15
Trio Industrial Electronics Group Limited to Report First Half, 2025 Results on Aug 28, 2025 Trio Industrial Electronics Group Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jul 03
Trio Industrial Electronics Group Limited Announces Resignation of Lo Ka Kei Jun as Executive Director, Effective July 1, 2025 Trio Industrial Electronics Group announced that Mr. Lo Ka Kei Jun will resign as an executive Director with effect from 1 July 2025 due to change of working arrangement. Mr. Lo will continue to serve as a senior management staff of the Company and its subsidiaries following his resignation as an executive Director. Mr. Lo has confirmed that he has no disagreement with the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited in relation to his resignation as an executive Director. Upcoming Dividend • Jun 16
Upcoming dividend of HK$0.012 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 14 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 8.5%. Within top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (3.4%). Announcement • May 28
Trio Industrial Electronics Group Limited Approves Final Dividend for the Year Ended 31 December 2024 Trio Industrial Electronics Group Limited at its Annual General Meeting held on 27 May 2025 approved final dividend of HKD 0.012 per ordinary share for the year ended 31 December 2024. Reported Earnings • May 01
Full year 2024 earnings released: EPS: HK$0.009 (vs HK$0.047 in FY 2023) Full year 2024 results: EPS: HK$0.009 (down from HK$0.047 in FY 2023). Revenue: HK$1.01b (down 13% from FY 2023). Net income: HK$8.56m (down 82% from FY 2023). Profit margin: 0.8% (down from 4.1% in FY 2023). 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 remained flat, which means it is significantly lagging earnings. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: HK$0.009 (vs HK$0.047 in FY 2023) Full year 2024 results: EPS: HK$0.009 (down from HK$0.047 in FY 2023). Revenue: HK$1.01b (down 13% from FY 2023). Net income: HK$8.56m (down 82% from FY 2023). Profit margin: 0.8% (down from 4.1% in FY 2023). 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 fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Trio Industrial Electronics Group Limited, Annual General Meeting, May 27, 2025 Trio Industrial Electronics Group Limited, Annual General Meeting, May 27, 2025. Announcement • Mar 17
Trio Industrial Electronics Group Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Trio Industrial Electronics Group Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Announcement • Oct 28
Trio Industrial Electronics Group Limited Announces Board Changes Trio Industrial Electronics Group Limited announced that Ms. Law has tendered her resignation as an independent non-executive Director with effect from 28 October 2024 so as to devote more time to her other engagements. Ms. Law has confirmed that she has no disagreement with the Board and there are no matters relating to her resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company (the "Shareholders"). Ms. Liu has been appointed as an executive Director with effect from 28 October 2024. The biographical details of Ms. Liu are set out below: Ms. Liu Yun, aged 42, was appointed as general manager, capital markets of the Company with effect from 16 October 2023. Ms. Liu is primarily responsible for business promotion in the overseas markets, handling of capital markets transactions and global legal compliance. Ms. Liu obtained a degree of Bachelor of Law from People's Public Security University of China in July 2004 and a degree of Executive Master of Business Administration from Renmin University of China in July 2014. Prior to joining the Group, Ms. Liu worked in the Intermediate People's Court of the People's Republic of China and served as the manager of business development department and legal and compliance department of a subsidiary of a listed company, Shenzhen United Financial Microloan Joint Stock Co., Ltd,. She was also the legal director of Formax Capital Market Limited and a lawyer at Beijing Gaopeng (Shenzhen) Law Firm. Ms. Liu has nearly 20 years of experience in financial, capital markets, and legal fields, and has engaged in strategic business development, investment and merger and acquisitions, joint venture management, legal risk control, and regulatory compliance. Mr. Yip has been appointed as an independent non-executive Director with effect from 28 October 2024. The biographical details of Mr. Yip are set out below: Mr. Yip Wa Ming, aged 50, is a founding member and director of YECO Consulting Limited and a member of the Chinese People's Political Consultative Conference in Dongguan City. He has worked at a "Big Four" international accounting firm for more than 26 years, including the last 9 years as a partner providing financial advisory services, with a focus on restructuring and value creation services, in mainland China and Hong Kong. Mr. Yip is a director of the GBA Youth Innovation Entrepreneurship Foundation Limited, a charitable organization in Hong Kong, and a director of Federation of Hong Kong Foshan Associations. He is also a member of the District Fire Safety Committee (Sai Kung District) of Home Affairs Department of the Government of the Hong Kong Special Administrative Region. Mr.Yip graduated from The Chinese University of Hong Kong in 1997 with a degree of Bachelor in Business Administration (major in professional accountancy) and is a fellow member of both the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. Following the resignation of Ms. Law as an independent non-executive Director, Ms. Law has ceased to be the chairperson of the Audit Committee and a member of each of the Remuneration Committee, the Nomination Committee and the Risk Management Committee. In addition, Mr. Tai has resigned as a member of the Nomination Committee with effect from 28 October 2024. Simultaneously, with effect from 28 October 2024, (i) Mr. Yip has been appointed as the chairman of the Audit Committee and a member of each of the Remuneration Committee, the Nomination Committee and the Risk Management Committee; and (ii) Ms. Liu has been appointed as a member of the Nomination Committee. Reported Earnings • Sep 25
First half 2024 earnings released: HK$0.026 loss per share (vs HK$0.022 profit in 1H 2023) First half 2024 results: HK$0.026 loss per share (down from HK$0.022 profit in 1H 2023). Revenue: HK$389.2m (down 31% from 1H 2023). Net loss: HK$25.9m (down 219% from profit in 1H 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 28
Trio Industrial Electronics Group Limited Announces Board and Committee Changes Trio Industrial Electronics Group Limited announces that Mr. Hau has tendered his resignation as an independent non-executive Director with effect from 28 August 2024 so as to focus on to his other business commitments. Mr. Wong has been appointed as an independent non-executive Director with effect from 28 August 2024. The biographical details of Mr. Wong are set out below: Mr. Wong Kwok Kuen, aged 69, has twenty-eight years of banking experience specialising in credit, marketing and general management functions in Hong Kong, Macao and Mainland China and fifteen years of investment and asset management experience in Hong Kong, Macao, Mainland China and London, the United Kingdom. He holds the degree of Master of Business Administration from Bangor University (formerly known as University College of North Wales (Bangor)), the United Kingdom in cooperation with Alliance Manchester Business School (formerly known as The Manchester Business School), the United Kingdom. He is an associate of The London Institute of Banking & Finance (formerly known as the Institute of Bankers), the Chartered Governance Institute (formerly known as the Institute of Chartered Secretaries and Administrators) and the Hong Kong Institute of Chartered Secretaries (formerly known as the Hong Kong Institute of Company Secretaries) respectively and was awarded the Chartered Governance Professional qualification. Mr. Wong is also a fellow of the Institute of Financial Accountants and the Institute of Public Accountants and a certified management accountant of the Institute of Certified Management Accountants, Australia. Mr. Wong has been an independent non-executive director of Vodatel Networks Holdings Limited, a company whose shares are listed on GEM of the Stock Exchange, since March 2020. Following the resignation of Mr. Hau as an independent non-executive Director, Mr. Hau has ceased to be the chairman of the Remuneration Committee and a member of each of the Nomination Committee and the Audit Committee. Simultaneously, Mr. Wong has been appointed as chairman of the Remuneration Committee and a member of each of the Nomination Committee and the Audit Committee with effect from 28 August 2024. Announcement • Aug 16
Trio Industrial Electronics Group Limited to Report First Half, 2024 Results on Aug 28, 2024 Trio Industrial Electronics Group Limited announced that they will report first half, 2024 results on Aug 28, 2024 Announcement • Jul 12
Trio Industrial Electronics Group Limited Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2024 Trio Industrial Electronics Group Limited provided consolidated earnings guidance for the six months ended 30 June 2024. for the six months, the Group is expected to record a loss attributable to equity holders of the Company ranging from approximately HKD 25 million to approximately HKD 35 million for the six months ended 30 June 2024, as compared to a profit attributable to equity holders of the Company of approximately HKD 21.7 million for the six months ended 30 June 2023. Based on the information currently available to the Board, the Expected Loss was mainly due to the following reasons: (i) the continuous sluggish demand in major products of the Group in the European and North American market resulted from slowdown in overall economic growth in Europe and North America; and (ii) the increase in administrative expenses resulting from (a) a one-off compensation paid for the termination of office of a former Director; and (b) the increased staff costs for the development of new business projects in the new energy-related market. Buy Or Sell Opportunity • Jul 02
Now 19% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.7% to HK$0.25. The fair value is estimated to be HK$0.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 54%. Buy Or Sell Opportunity • Jun 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.9% to HK$0.24. The fair value is estimated to be HK$0.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 54%. Announcement • May 01
Trio Industrial Electronics Group Limited, Annual General Meeting, May 28, 2024 Trio Industrial Electronics Group Limited, Annual General Meeting, May 28, 2024, at 15:00 China Standard Time. Location: Room R2, United Conference Centre, 10/F., United Centre, 95 Queensway Admiralty Hong Kong Agenda: To consider and adopt the audited consolidated financial statements of the Company and the reports of the directors of the Company and independent auditor of the Company for the year ended 31 December 2023; to re-elect Mr. Wong Sze Chai as an executive Director; to re-elect Mr. Lo Ka Kei Jun as an executive Director; to elect Mr. Kan Pak Cheong as an independent non-executive Director; to authorize the board of Directors to fix the Directors' remuneration; and to discuss other matters. Board Change • Apr 15
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Siu Laam Hau was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 12
Trio Industrial Electronics Group Limited Removes Joseph Mac Carthy as an Executive Director Trio Industrial Electronics Group Limited announced passing the following resolution as an ordinary resolution of the Company for the proposed removal of Mr. Joseph Mac Carthy as an executive Director (the "Proposed Removal"). New Risk • Apr 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.7% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (HK$265.0m market cap, or US$33.8m). Announcement • Mar 16
Trio Industrial Electronics Group Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 Trio Industrial Electronics Group Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 Reported Earnings • Sep 23
First half 2023 earnings released: EPS: HK$0.022 (vs HK$0.001 in 1H 2022) First half 2023 results: EPS: HK$0.022 (up from HK$0.001 in 1H 2022). Revenue: HK$565.9m (up 36% from 1H 2022). Net income: HK$21.7m (up HK$20.9m from 1H 2022). Profit margin: 3.8% (up from 0.2% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Aug 30
Trio Industrial Electronics Group Limited Announces Ordinary Interim (Semi-Annual) Cash Dividend for the Six Months Ended June 30, 2023, Payable on October 20, 2023 Trio Industrial Electronics Group Limited announced Ordinary Interim (Semi-annual) cash dividend of HKD 0.008 per share for the six months ended June 30, 2023. Ex-dividend date is 25 September 2023. Record date is 29 September 2023. Payment date is 20 October 2023. Upcoming Dividend • Jun 08
Upcoming dividend of HK$0.012 per share at 8.7% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 8.7%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.4%). Announcement • May 24
Trio Industrial Electronics Group Limited Approves Final Dividend for the Year Ended December 31, 2022 Trio Industrial Electronics Group Limited approved in Annual General Meeting held on 23 May 2023 final dividend of 1.2 Hong Kong cents per ordinary share for the year ended December 31, 2022. Buying Opportunity • Apr 03
Now 20% undervalued Over the last 90 days, the stock is up 5.8%. The fair value is estimated to be HK$0.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years, while earnings per share has been flat. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: HK$0.045 (vs HK$0.011 loss in FY 2021) Full year 2022 results: EPS: HK$0.045 (up from HK$0.011 loss in FY 2021). Revenue: HK$978.1m (up 32% from FY 2021). Net income: HK$45.4m (up HK$56.0m from FY 2021). Profit margin: 4.6% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Announcement • Dec 17
Trio Industrial Electronics Group Limited Announces Executive Changes The board of directors of Trio Industrial Electronics Group Limited and its subsidiaries announced that with effect from 16 December 2022: (i) Mr. Wong Sze Chai ("Mr. Wong") has been appointed as the deputy chairman of the Board and an executive Director of the Company; and (ii) Ms. Wan Mei Wa Ruby ("Ms. Wan") has tendered her resignation as company secretary of the Company and Mr. Cheung Yu Man ("Mr. Cheung") has been appointed as the Company Secretary. Mr. Wong, aged 60, has over 20 years of experience in the banking field. Mr. Wong joined Trio Engineering Company Limited, a wholly-owned subsidiary of the Company, as the deputy chairman in November 2022. Prior to joining the Group, Mr. Wong was a senior manager at the Investment Banking Department of The Sumitomo Bank Hong Kong Branch, a senior vice president at the Corporate Banking and Structured Finance Department of China Construction Bank Hong Kong Branch, the head of Corporate and Institutional Banking of Oversea-Chinese Banking Corporation Ltd., Hong Kong Branch, and the head of Corporate Finance of Corporate Banking, Financial Institutions and Project Management at Bank of China (Hong Kong) Ltd. Moreover, he was a managing director and the chief financial officer of China Wealth Investments Ltd. from September 2008 to February 2015. He was also the head of Corporate Finance of Binhai Investment Company Limited from October 2010 to April 2012, the group chief financial officer of Formax Capital Market Limited from March 2015 to July 2017, an executive director and the chief executive officer of Perfectech International Holdings Limited from December 2018 to January 2019. He was also an executive director and the chief financial officer of China Shine Capital Limited (formerly known as China Bravery Capital Ltd.) from August 2017 to October 2022. Mr. Wong obtained a Bachelor of Financial Services degree from University College Dublin, the National University of Ireland in October 1995, a Master of Business Administration degree from the University of South Australia in April 2000, and a Master of Practising Accounting degree from the Monash University in Australia in March 2006. Mr. Wong isa fellow member of CPA Australia and Chartered Institute of Management Accountants, respectively, and a member of the Hong Kong Institute of Bankers. Mr. Cheung, aged 39, has over 15 years of experience in legal and company secretarial field. Mr. Cheung obtained a Bachelor of Arts degree in Business Administration and Management from University of Huddersfield in November 2007 and a Bachelor of Laws degree from the University of London in November 2013. Mr. Cheung obtained his Graduate Diploma in Legal Practice from The College of Law in Australia in February 2017. Mr. Cheung is a lawyer admitted in the Supreme Court of New South Wales. He is also a member of the Law Society of New South Wales, Australia and an associate member of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Announcement • Dec 13
Trio Industrial Electronics Group Limited Provides Earnings Guidance for the the Year Ending 31 December 2022 Trio Industrial Electronics Group Limited provided earnings guidance for the the year ending 31 December 2022. The Group expects to record a profit attributable to equity holders of the Company of not less than HKD 40.0 million for the year ending 31 December 2022 as compared to a loss attributable to equity holders of the Company of approximately HKD 10.6 million for the year ended 31 December 2021. The expected turnaround is mainly due to the following reasons: increase in the Group's revenue due to strong customers' demand rebounded from the COVID-19 pandemic in its major markets; partial recovery of soaring material costs from certain customers; reversal of provision for impairment loss of obsolete inventories; and rise in net gain on foreign exchange mainly driven by the depreciation of Renminbi and Thai Baht against United States Dollar. 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 Siu Laam Hau was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 02
Less than half of directors are independent Following Director of Marketing Division & Executive Director Ka Kei Jun Lo's arrival on 01 September 2022, 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 Siu Laam Hau was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
First half 2022 earnings released: EPS: HK$0.001 (vs HK$0.01 loss in 1H 2021) First half 2022 results: EPS: HK$0.001 (up from HK$0.01 loss in 1H 2021). Revenue: HK$417.4m (up 28% from 1H 2021). Net income: HK$876.0k (up HK$10.7m from 1H 2021). Profit margin: 0.2% (up from net loss in 1H 2021). The move to profitability 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 49 percentage points per year, which is a significant difference in performance. Announcement • Aug 30
Trio Industrial Electronics Group Limited Announces Ordinary Interim (Semi-Annual) Cash Dividend for the Six Months Ended June 30, 2022, Payable on 17 October 2022 Trio Industrial Electronics Group Limited announced Ordinary Interim (Semi-annual) cash dividend of HKD 0.008 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 17 October 2022. Announcement • Jul 29
Trio Industrial Electronics Group Limited Announces Management Changes Trio Industrial Electronics Group Limited and its subsidiaries announced that Ms. Law Ying Wai Denise and Mr. Hau Siu Laam will be appointed as independent non-executive Directors with effect from 1 August 2022. Following their appointments, Ms. Law will also be appointed as a chairman of the audit committee of the Board and a member of each of the remuneration committee, the nomination committee and the risk management committee of the Board. Mr. Hau will also be appointed as a chairman of Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee. Ms. Law, aged 40, is currently a Director of Halcyon Capital Limited which specialises in initial public offerings and corporate advisory in mergers and acquisitions. Ms. Law possesses over 15 years of experience in corporate finance and auditing. She used to work for an international accounting firm and other corporate finance arms of financial institutions in Hong Kong. She graduated from the University of New South Wales in Australia with a degree of Bachelor of Commerce in Accounting and Finance in April 2004. She is also a member of the American Institute of Certified Public Accountants. Mr. Hau, aged 37, is currently an executive director of Asian Capital Limited, a corporation licensed to carry on Type 1, Type 4 and Type 6 regulated activities under the Securities and Futures Ordinance. Mr. Hau possesses over 15 years of experience in corporate finance, corporate advisory and auditing. Mr. Hau obtained a degree of Bachelor of Arts with a major in Accountancy and a minor in Corporate Finance from The Hong Kong Polytechnic University in December 2006, and is a member of the Hong Kong Institute of Certified Public Accountants. Save as disclosed above, as at the date of this announcement, Ms. Law and Mr. Hau do not hold any directorship in public companies listed on any securities market in Hong Kong or overseas in the last three years, do not have any other major appointments and professional qualifications, and do not hold any position in any members of the Group. Ms. Law and Mr. Hau are not related to any Director, senior management, substantial shareholder or controlling shareholder of the Company. As at the date of this announcement, Ms. Law and Mr. Hau do not have interest in any shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Each of Ms. Law and Mr. Hau has entered into a letter of appointment with the Company. Each of their appointments is for a period of three years commencing from 1 August 2022 and is subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Each of Ms. Law and Mr. Hau is entitled to a director's fee of HKD 20,000 per month which was determined by the Board with the authorisation of the Company's shareholders and recommendation from the Remuneration Committee with reference to their experience and prevailing market levels. Save as disclosed above, each of Ms. Law and Mr. Hau confirmed that there are no other matters in relation to their appointments that need to be brought to the attention of the shareholders of the Company and there are no other information that should be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Following the above appointments of independent non-executive Directors, members and chairman of the Audit Committee, the Remuneration Committee, the Nomination Committee and the Risk Management Committee (collectively, the "Board Committees"), the Company has complied with the requirements of Rules 3.10(1), 3.10(2), 3.10A, 3.21, 3.25 and 3.27A of the Listing Rules and the terms of reference of each of the Board Committees. Announcement • Jul 13
Trio Industrial Electronics Group Limited Provides Unaudited Consolidated Guidance for the Six Months Ended 30 June 2022 Trio Industrial Electronics Group Limited provided unaudited consolidated guidance for the six months ended 30 June 2022. For the period, the company is expected to record a loss attributable to equity holders of the Company of no more than HKD 5.0 million for the six months ended 30 June 2022 as compared to a loss attributable to equity holders of the Company of HKD 9.9 million for the six months ended 30 June 2021. The expected decrease in loss is mainly due to the following reasons: The increase in the Group 's revenue due to strong customers demand following the stabilisation of COVID-19 pandemic; and the rise in net gain on foreign exchange mainly arising from the depreciation of Renminbi. Announcement • May 28
Trio Industrial Electronics Group Limited Announces Executive Changes Trio Industrial Electronics Group Limited announced that Mr. Cheung Kin Wing and Mr. Wong Raymond Fook Lam would not offer themselves for re-election at the 2022 AGM as they intended to devote more time to their other personal commitments. Accordingly, they retired from office as the independent non-executive Directors with effect from the conclusion of the 2022 AGM. Following the retirement of Mr. Cheung Kin Wing and Mr. Wong Raymond Fook Lam, (i) Mr. Cheung Kin Wing ceased to be the chairman of the audit committee of the Board (the "Audit Committee ") and a member of each of the remuneration committee (the " Remuneration Committee ") and risk management committee (the " Risk Management Committee ") of the Board; and (ii) Mr. Wong Raymond Fook Lam ceased to be the chairman of the Remuneration Committee and a member of each of the Audit Committee, nomination committee of the Board (the " Nomination Committee ") and Risk Management Committee. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Raymond Wong was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 24
Trio Industrial Electronics Group Limited Provides Unaudited Consolidated Earnings Guidance for the Eleven Months Ended 30 November 2021 Trio Industrial Electronics Group Limited provided unaudited consolidated earnings guidance for the eleven months ended 30 November 2021. For the period, the Group is expected to record a loss attributable to equity holders of the Company of not more than HKD 20.0 million for the year ending 31 December 2021 as compared to a profit attributable to equity holders of the Company of HKD 28.9 million for the corresponding period of 2020. The expected loss is mainly due to the following reasons: the Group's revenue growth has been undermined by severe disruption of global supply chains and material shortages, affecting its ability to meet customers' demands; soaring material costs due to prolonged shortage of key components worldwide; escalating freight and transportation charges driven by container shortages and COVID-19 control measures taken by governments around the world; higher direct labour costs as a result of the re-arrangement of production activities following the electricity rationing in Guangdong province, the People's Republic of China and unstable supply of materials; and increase in overall operating costs derived from the appreciation of Renminbi. Reported Earnings • Aug 25
First half 2021 earnings released: HK$0.01 loss per share (vs HK$0.002 loss in 1H 2020) The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: HK$325.4m (up 15% from 1H 2020). Net loss: HK$9.87m (loss widened 317% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Jun 22
Trio Industrial Electronics Group Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ending June 30, 2021 Trio Industrial Electronics Group Limited provided unaudited consolidated earnings guidance for the six months ending June 30, 2021. For the six months, it is expected to record a loss attributable to equity holders of the Company of not more than approximately HKD 15.0 million for the six months ending 30 June 2021 as compared to a loss attributable to equity holders of the Company of HKD 2.4 million for the six months ended 30 June 2020. The expected increase in loss is mainly because of the following reasons: escalating material costs driven by prolonged shortage in supply of components; severe disruption of global supply chains and product delivery to meet customers' scheduled orders due to multiple waves of COVID-19; rise in operating costs as a result of the appreciation of Renminbi against other currencies;
and
the Group's production outputs have been further affected by electricity rationing since May
2021 in Guangdong Province, the People's Republic of China. Upcoming Dividend • Jun 02
Upcoming dividend of HK$0.012 per share Eligible shareholders must have bought the stock before 09 June 2021. Payment date: 05 July 2021. Trailing yield: 10.0%. Within top quartile of Hong Kong dividend payers (5.9%). Higher than average of industry peers (3.9%). Announcement • May 25
Trio Industrial Electronics Group Limited Approves to Declare Final Dividend for the Year Ended 31 December 2020 Trio Industrial Electronics Group Limited approved to declare a final dividend of 1.2 Hong Kong cents per share for the year ended 31 December 2020, at its AGM held on May 24, 2021. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS HK$0.029 (vs HK$0.022 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: HK$701.7m (down 13% from FY 2019). Net income: HK$28.9m (up 29% from FY 2019). Profit margin: 4.1% (up from 2.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS HK$0.029 (vs HK$0.022 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: HK$701.7m (down 13% from FY 2019). Net income: HK$28.9m (up 29% from FY 2019). Profit margin: 4.1% (up from 2.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Announcement • Mar 16
Trio Industrial Electronics Group Limited to Report Fiscal Year 2020 Results on Mar 25, 2021 Trio Industrial Electronics Group Limited announced that they will report fiscal year 2020 results on Mar 25, 2021 Announcement • Mar 03
Trio Industrial Electronics Group Limited Announce Change of Chief Financial Officer The board of directors of Trio Industrial Electronics Group Limited (the "Company") and its subsidiaries (together, the "Group") announced that, with effect from 1 March 2021, Mr. Lai Yiu Wah ("Mr. Lai"), the Chairman, an executive Director and the Chief Financial Officer of the Company ("CFO") ceases to act as the CFO. Mr. Lai has confirmed that he has no disagreement with the Board and there is no matter in relation to his cessation as the CFO that needs to be brought to the attention of the shareholders of the Company. Mr. Lai will remain as the Chairman and an executive Director. Ms. Wan Mei Wa Ruby ("Ms. Wan"), the current Group Financial Controller and Company Secretary, will be appointed as the CFO with effect from 1 March 2021. Ms. Wan will continue to act as a Company Secretary of the Company and is responsible for overall financial management and company secretarial matters of the Group. Ms. Wan, aged 37, joined the Group in March 2015. She has over 10 years of experience in audit and assurance, financial management, and corporate governance. Ms. Wan holds a Bachelor of
Commerce (Honours) in Accounting from Hong Kong Shue Yan University (formerly known as Hong Kong Shue Yan College) and a Master of Corporate Governance from the Hong Kong Polytechnic University. She is an associate member of the Hong Kong Institute of Certified Public Accountants, an associate member and a Chartered Governance Professional of the Hong Kong Institute of Chartered Secretaries and the Chartered Governance Institute (formerly known as the Institute of Chartered Secretaries and Administrators). Reported Earnings • Sep 24
First half earnings released Over the last 12 months the company has reported total profits of HK$5.29m, down 89% from the prior year. Total revenue was HK$689.0m over the last 12 months, down 22% from the prior year. Announcement • Aug 13
Trio Industrial Electronics Group Limited to Report First Half, 2020 Results on Aug 24, 2020 Trio Industrial Electronics Group Limited announced that they will report first half, 2020 results on Aug 24, 2020