Announcement • Jan 04
NYSE to Suspend Trading Immediately in Onion Global and Commence Delisting Proceedings The New York Stock Exchange (“NYSE”, the “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares (“ADSs”), each ten (10) ADSs represents one (1) Class A ordinary share of Onion Global Limited (the “Company”) from the NYSE. Trading in the Company’s ADSs will be suspended immediately. NYSE Regulation reached its decision to delist the Company’s ADSs pursuant to Listed Company Manual Section 802.01C, as the Company had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading-day period and failed to cure this non-compliance within the required timeframe. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the common shares upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. Reported Earnings • Dec 30
First half 2022 earnings released: CN¥1.40 loss per share (vs CN¥3.49 loss in 1H 2021) First half 2022 results: CN¥1.40 loss per share (improved from CN¥3.49 loss in 1H 2021). Revenue: CN¥850.5m (down 38% from 1H 2021). Net loss: CN¥131.8m (loss narrowed 59% from 1H 2021). Announcement • May 28
Onion Global Limited Announces CFO Changes Onion Global Limited announced that on May 18, 2022, Ms. Shan (Mio) Ho tendered her resignation from her position on the board of directors of Onion Global Limited (the “Company”), including any applicable board committee, and as Chief Financial Officer (“CFO”) of the Company effective as of June 1, 2022. Ms. Ho’s resignation from her positions was due to personal reasons, and she will remain as a business partner of the Company and continue to support the growth of the Company as needed. The Company has initiated a search for a permanent CFO with the necessary capabilities and qualifications. Mr. Cong (Kenny) Li, Chief Executive Officer of the Company, will serve as the interim CFO and interim principal financial /accounting officer for the Company’s annual report on Form 20-F for the fiscal year of 2021 and will supervise the review of the upcoming unaudited financial results. Announcement • May 21
Onion Global Receives NYSE Notice Related to Late Filing of Its 2021 Annual Report Onion Global Limited announced on May 20, 2022 that it received a letter from the NYSE Regulation staff (the "NYSE"), dated May 18, 2022 (the "Delinquency Letter"), notifying the Company that the Company is not in compliance with the NYSE's continued listing requirements under the timely filing criteria pursuant to Section 802.01E of the NYSE Listed Company Manual as a result of the Company's failure to timely file the Form 20-F for the fiscal year ended December 31, 2021 (the "2021 Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC"). The Company previously filed a Form 12b-25 with the SEC on April 29, 2022 for late filing of the 2021 Form 20-F, pursuant to which the 2021 Form 20-F was due to be filed by May 17, 2022. The Company expects to file the 2021 Form 20-F once the partial lockdowns across many cities in China are lifted so that certain audit procedures could be completed. The Company is currently unable to provide an anticipated filing date, given it is unable to estimate when the partial lockdowns and other COVID-related restrictions in mainland China will be lifted or eased. As required by the Delinquency Letter, the Company will contact the NYSE to discuss the status of its 2021 Form 20-F within five business days of receipt of the Delinquency Letter. The NYSE notified the Company that the NYSE will closely monitor the status of the Company's late filing and related public disclosures for up to a six-month period from the due date of the 2021 Form 20-F. If the Company fails to file its 2021 Form 20-F and any subsequent delayed filings within six months from the filing due date, the NYSE may, in its sole discretion, allow the Company's securities to trade for up to an additional six months depending on specific circumstances, as outlined in Section 802.01E of the NYSE Listed Company Manual. It is expected by the NYSE that the Company will submit an official request for the NYSE's consideration at the appropriate time. To provide transparent information about an issuer's filing status, the NYSE maintains a list of late filers on www.nyse.com and identifies late filers with an "LF" indicator. This indicator, or another indicator or letter, may be appended to the Company's ticker symbol, "OG," signifying its status as a late filer. The Company expects to be posted to the late filers list on the Listing Standards Filing Status Page on www.nyse.com on May 24, 2022 and that an "LF" indicator will be appended to the Profile, Data and News pages of the Company's American depositary shares listed on the NYSE. The Deficiency Letter has no immediate impact on the listing of the Company's ordinary shares represented by American depositary shares on the NYSE. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Yeung Tak Chen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 08
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 39%. The fair value is estimated to be US$1.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Mar 15
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 52%. The fair value is estimated to be CN¥1.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. The company became loss making over the last year. Announcement • Mar 03
Onion Global Limited Announces Executive Changes Onion Global Limited on February 25, 2022, each of Mr. Jimmy Lai and Mr. Eric He tendered their resignation from their position on the board of directors (including board committees). On March 1, 2022, the board of directors appointed each of Mr. CHEN Yeung Tak and Mr. SHIN Ho Chuen as (i) a director of the board of directors and (ii) a member of each of the audit committee, the compensation committee and the nominating and corporate governance committee, effective immediately. Mr. CHEN Yeung Tak has also been appointed as the chairman of the audit committee. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS CN¥0.004 (vs CN¥0.37 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥683.0m (down 36% from 3Q 2020). Net income: CN¥393.0k (down 99% from 3Q 2020). Profit margin: 0.1% (down from 2.8% in 3Q 2020). The decrease in margin was driven by lower revenue. Reported Earnings • Aug 19
Second quarter 2021 earnings released: CN¥3.60 loss per share (vs CN¥0.51 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: CN¥696.4m (down 37% from 2Q 2020). Net loss: CN¥332.4m (down CN¥373.5m from profit in 2Q 2020). Announcement • Aug 19
Onion Global Limited Provides Revenue Guidance for the Third Quarter of 2021 Onion Global Limited provided revenue guidance for the third quarter of 2021. For the third quarter of 2021, the Company expects total revenues to be between RMB 720 million and RMB 760 million, representing a year-over-year decrease of 31% to 27%. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥3.79, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 26x in the Online Retail industry in the US. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥3.55, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 32x in the Online Retail industry in the US. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥4.50, the stock trades at a trailing P/E ratio of 14.1x. Average forward P/E is 32x in the Online Retail industry in the US. Reported Earnings • Jun 12
First quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.70 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥668.9m (down 5.7% from 1Q 2020). Net income: CN¥8.94m (down 84% from 1Q 2020). Profit margin: 1.3% (down from 7.8% in 1Q 2020).