Reported Earnings • Apr 20
Full year 2025 earnings released: CN¥0.08 loss per share (vs CN¥0.27 loss in FY 2024) Full year 2025 results: CN¥0.08 loss per share (improved from CN¥0.27 loss in FY 2024). Revenue: CN¥618.3m (down 10% from FY 2024). Net loss: CN¥5.65m (loss narrowed 70% from FY 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Apr 15
Southern Packaging Group Limited, Annual General Meeting, Apr 29, 2026 Southern Packaging Group Limited, Annual General Meeting, Apr 29, 2026, at 10:00 Singapore Standard Time. Location: indiana room, level 4, raffl es city convention centre, fairmont singapore and swissotel, the stamford, 80 bras basah road,singapore 189560, Singapore Reported Earnings • Mar 04
Full year 2025 earnings released: CN¥0.08 loss per share (vs CN¥0.27 loss in FY 2024) Full year 2025 results: CN¥0.08 loss per share (improved from CN¥0.27 loss in FY 2024). Revenue: CN¥618.3m (down 10% from FY 2024). Net loss: CN¥5.65m (loss narrowed 70% from FY 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Risks Debt is not well covered by operating cash flow (7.0% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 51% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (S$21.1m market cap, or US$16.6m). Announcement • Apr 14
Southern Packaging Group Limited, Annual General Meeting, Apr 29, 2025 Southern Packaging Group Limited, Annual General Meeting, Apr 29, 2025, at 10:00 Singapore Standard Time. Location: indiana room, level 4, raffles city convention centre, fairmont singapore and swissotel the stamford, 80 bras basah road, singapore 189560, Singapore Reported Earnings • Mar 01
Full year 2024 earnings released: CN¥0.27 loss per share (vs CN¥0.19 loss in FY 2023) Full year 2024 results: CN¥0.27 loss per share (further deteriorated from CN¥0.19 loss in FY 2023). Revenue: CN¥687.9m (flat on FY 2023). Net loss: CN¥18.9m (loss widened 40% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jan 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.5% to S$0.38. The fair value is estimated to be S$0.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 18
First half 2024 earnings released: EPS: CN¥0.007 (vs CN¥0.077 loss in 1H 2023) First half 2024 results: EPS: CN¥0.007 (up from CN¥0.077 loss in 1H 2023). Revenue: CN¥333.7m (up 6.1% from 1H 2023). Net income: CN¥503.0k (up CN¥5.91m from 1H 2023). Profit margin: 0.2% (up from net loss in 1H 2023). 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 69 percentage points per year, which is a significant difference in performance. Announcement • Apr 30
Southern Packaging Group Limited Appoints Chan Kam Loon as Lead Independent Director of the Company and Chairman of Audit and Remuneration Committees, Effective from 1 May 2024 Southern Packaging Group Limited announced the following changes to the composition of the Board and Board Committees of the Company with effect from 1 May 2024: Appointment of Mr. Chan Kam Loon as Lead Independent Director of the Company and Chairman of Audit and Remuneration Committees. Consequent to the aforementioned changes, the composition of the Company's Board and Board Committees will be as follows: Board of Directors: Mr. Pan Shun Ming - Executive Chairman and Chief Executive Officer; Mr. Chen Xiang Zhi - Executive Director and Vice Chairman; Mr. Chan Kam Loon - Lead Independent Director; Mr. Wu Geng - Independent Director; Mr. Poon Joe Keen - Independent Director. Audit Committee: Mr. Chan Kam Loon - Chairman; Mr. Wu Geng - Member; Mr. Poon Joe Keen - Member. Nominating Committee: Mr. Wu Geng - Chairman; Mr. Chan Kam Loon - Member; Mr. Poon Joe Keen - Member. Remuneration Committee: Mr. Chan Kam Loon - Chairman; Mr. Wu Geng - Member; Mr. Poon Joe Keen - Member. Announcement • Apr 27
Southern Packaging Group Limited Appoints Poon Joe Keen as Independent Non-Executive Directorand A Member of Audit, Remuneration and Nominating Committees Southern Packaging Group Limited has accepted the Nominating Committee's recommendation and approved the appointment of Mr. Poon as an Independent Non-Executive Director of the Company and a member of Audit, Remuneration and Nominating Committees. The Board considers Mr. Poon is independent for the purposes of Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited. Working Experience: 2023 to present: President, Asia Pacific - Wey Technology 2022- 2024 Co-founder, Non-executive Director - Global Sustainability Nexus 2022 to present: Independent Director - Alpha DX Group Limited (under judicial management) 2020 to present: Member of Governing Council and Executive Committee, Chairman of Professional Development Committee - SID 2020 to 2023: Member of Executive Committee - Association of AI Professionals 2020 and 2021: President, Singapore and Southeast Asia - Kaplan 2017 to present: Member of Steering Committee for Smart Cities and Talent - SG Tech 2015 to 2020: Managing Director (Smart City Solutions) and Group Chief Technology Officer - Surbana Jurong 2014 to 2015: Vice President, Asia - Logicalis 2011 to 2014: President, East Asia and Japan - Xchanging. Other DirectorShips Past: Directorships - Managing Director, Smart Cities, Surbana Jurong Other Principal Commitments - President, Kaplan Singapore - Member of Executive Committee, Association of AI Professionals - Group Chief Technology Officer, Surbana Jurong. Other DirectorShips Present: Directorships - Independent Director, Alpha DX Group Limited (under judicial management) - Non-Executive Director, Global Sustainability Nexus Other Principal Commitment - President (Asia Pacific), Wey Technology - Member of Governing Council and Executive Committee, Chairman of Professional Development Committee, SID - Member of Steering Committee for Smart Cities and Talent, SG Tech. Director Experience Details: Mr. Poon is Independent Director of Alpha DX Group Limited (under judicial management). He has obtained the Executive Certification in Board Directorship with the SID. In addition, Mr. Poon is currently a member of Governing Council and Chairman of the Professional Development Committee in the SID. Professional Qualifications: King's College, London, Biomedical Science and Physiotherapy BSc (Hons) University of Wales, Healthcare Management MSc (Distinction) Imperial College, London, MBA Singapore Management University - Singapore Institute of Directors ("SID"), Executive Certification in Board Directorship SID - Senior Accredited Director Singapore University of Social Sciences - Carbon Management. New Risk • Mar 01
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 Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 51% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (S$42.2m market cap, or US$31.3m). Announcement • Feb 20
Southern Packaging Group Limited Announces Board and Committee Changes The Board of Directors of Southern Packaging Group Limited announced the following changes to the composition of the Board and Board Committees of the Company: Resignation of Mr. Chia Chor Leong (‘Mr. Chia’) as Independent Non-Executive Director on 23 February 2024. Accordingly, Mr. Chia will relinquish his positions as the Chairman of Nominating Committee and member of the Audit and Remuneration Committees. Appointment of Mr. Wu Geng (‘Mr. Wu’) as Chairman of Nominating Committee and member of the Audit Committee and Remuneration Committee with effect from 23 February 2024. The Board considers Mr. Wu to be independent for the purpose of Rule 704(8) of the Listing Manual of the SGX-ST. Consequent to the aforementioned changes, the composition of the Company's Board and Board Committees with effect from 23 February 2024 will be as follows: Board of Directors: Mr. Pan Shun Ming - Executive Chairman and Chief Executive Officer; Mr. Chen Xiang Zhi - Executive Director and Vice Chairman; Mr. Yeung Koon Sang @ David Yeung - Lead Independent Director; Mr. Chan Kam Loon - Independent Director; Mr. Wu Geng - Independent Director. Audit Committee: Mr. Yeung Koon Sang @ David Yeung – Chairman; Mr. Chan Kam Loon – Member; Mr. Wu Geng – Member. Nominating Committee: Mr. Wu Geng – Chairman; Mr. Yeung Koon Sang @ David Yeung – Member; Mr. Chan Kam Loon – Member. Remuneration Committee: Mr. Yeung Koon Sang @ David Yeung – Chairman; Mr. Chan Kam Loon – Member; Mr. Wu Geng – Member. Board Change • Aug 31
High number of new directors Independent Non-Executive Director Philip Chan was the last director to join the board, commencing their role in 2023. Reported Earnings • Aug 16
First half 2023 earnings released: CN¥0.077 loss per share (vs CN¥0.21 loss in 1H 2022) First half 2023 results: CN¥0.077 loss per share (improved from CN¥0.21 loss in 1H 2022). Revenue: CN¥314.7m (up 14% from 1H 2022). Net loss: CN¥5.41m (loss narrowed 64% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Board Change • Aug 15
High number of new directors Independent Non-Executive Director Philip Chan was the last director to join the board, commencing their role in 2023. Announcement • Jul 25
Southern Packaging Group Limited Provides Unaudited Earnings Guidance for the Six-Month Period Ended 30 June 2023 Southern Packaging Group Limited provided unaudited earnings guidance for the six-month period ended 30 June 2023. For the period, based on the preliminary figures, the Group expects to report a net loss. During the period, the Group managed to regain some market share amidst keen competition and weak demand. However, the sales recovery was not strong enough to turn the Group into a net profit position. The increasing energy costs also contributed towards increasing manufacturing costs. The Company is still in the midst of finalising its financial results for period. Further details of the Group's financial performance will be disclosed when the Company announces its unaudited financial results for the period on or before 14 August 2023. Announcement • Jul 23
Southern Packaging Group Limited Announces Appointment of Chan Kam Loon as Independent Non-Executive Director, Effective August 1, 2023 Southern Packaging Group Limited announced Upon recommendation from the Nominating Committee, the Board of Directors after having reviewed and considered the qualifications, expertise, working experience and independence of Mr. Chan, has approved the appointment of Mr. Chan as an Independent Director of the Company. Role And Responsibilities: Non-Executive. Job Title: Independent Non-Executive Director. Working Experience: Mr. Chan has many years of experience in accounting and audit with KPMG London and PWC Singapore (1983 - 1990), investment banking with Morgan Grenfell Asia and HG Asia Securities and was a director of investments (1990 - 1996) at private firm Suez Asia Holdings (1996 - 2000). Mr. Chan was head of the Listings Function of Markets Group at the Singapore Exchange (2000 - 2004). Since 2004 to present, he serves as an independent director of several other SGX listed companies. Professional Qualifications: Bachelor of Science (Economics) in Accounting and Finance Chartered Accountant of Institute of Chartered Accountants in England & Wales. The date of appointment is August 1, 2023. New Risk • Jun 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$13.1m (US$9.75m) This is considered a major 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: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 45% per year over the past 5 years. Market cap is less than US$10m (S$13.1m market cap, or US$9.75m). Board Change • May 26
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. No experienced directors. 5 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 15
Full year 2022 earnings released: CN¥0.52 loss per share (vs CN¥0.20 profit in FY 2021) Full year 2022 results: CN¥0.52 loss per share (down from CN¥0.20 profit in FY 2021). Revenue: CN¥603.5m (down 22% from FY 2021). Net loss: CN¥36.3m (down 359% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 06
Insider recently bought S$239k worth of stock On the 1st of March, Shek Chuen Jen bought around 955k shares on-market at roughly S$0.25 per share. This transaction amounted to 8.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought S$565k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 02
Full year 2022 earnings released: CN¥0.52 loss per share (vs CN¥0.20 profit in FY 2021) Full year 2022 results: CN¥0.52 loss per share (down from CN¥0.20 profit in FY 2021). Revenue: CN¥603.5m (down 22% from FY 2021). Net loss: CN¥36.3m (down 359% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Board Change • Mar 01
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. No experienced directors. 5 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Jan 10
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be S$0.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Board Change • Jan 09
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. No experienced directors. 5 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 28
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. No experienced directors. 5 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 26
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. 1 experienced director. 4 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 02
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. 1 experienced director. 4 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
First half 2022 earnings released: CN¥0.21 loss per share (vs CN¥0.014 profit in 1H 2021) First half 2022 results: CN¥0.21 loss per share (down from CN¥0.014 profit in 1H 2021). Revenue: CN¥275.6m (down 16% from 1H 2021). Net loss: CN¥15.0m (down CN¥16.0m from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Aug 13
Insider recently bought S$191k worth of stock On the 11th of August, Shek Chuen Jen bought around 490k shares on-market at roughly S$0.39 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought S$351k more in shares than they have sold in the last 12 months. Board Change • Aug 10
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. 1 experienced director. 4 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 25
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. 1 experienced director. 4 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jul 13
Insider recently bought S$135k worth of stock On the 8th of July, Shek Chuen Jen bought around 300k shares on-market at roughly S$0.45 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought S$160k more in shares than they have sold in the last 12 months. Board Change • Jul 12
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. 1 experienced director. 4 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 02
Southern Packaging Group Limited Approves First and Final One-Tier Tax Exempt Dividend for the Year Ended 31 December 2021 Southern Packaging Group Limited announced that at its AGM held on 29 April 2022, declared first and final one-tier tax exempt dividend of SGD 0.0045 per ordinary share for the year ended 31 December 2021. Announcement • Apr 12
Southern Packaging Group Limited Provides Update on the Group's Business Operations The Board of Directors of Southern Packaging Group Limited provided an update to shareholders of the Company on the Group's business and operations. Recently, Shanghai is experiencing a lockdown due to the latest wave of the COVID-19 pandemic. As a result, the Group's production and delivery plans are affected because it is unable to deliver its products to Shanghai customers. The Group expects this situation will persist for some times until the COVID-19 situation is under control. The Company will continue to update shareholders on material business developments as and when appropriate. Board Change • Mar 28
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. 2 experienced directors. 3 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CN¥0.19 (up from CN¥0.067 in FY 2020). Revenue: CN¥769.2m (up 30% from FY 2020). Net income: CN¥14.1m (up 197% from FY 2020). Profit margin: 1.8% (up from 0.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Board Change • Mar 02
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. 2 experienced directors. 3 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 26
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. 2 experienced directors. 3 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 04
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. 2 experienced directors. 3 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 08
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. 2 experienced directors. 3 highly experienced directors. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 21
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. 4 experienced directors. 1 highly experienced director. Independent Director Chor Leong Chia was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 19
First half 2021 earnings released: EPS CN¥0.014 (vs CN¥0.072 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥329.8m (up 27% from 1H 2020). Net income: CN¥974.0k (up CN¥6.06m from 1H 2020). Profit margin: 0.3% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.