Tillkännagivande • Jun 30
Xiamen Hongxin Electronics Technology Group Inc. to Report First Half, 2026 Results on Aug 21, 2026 Xiamen Hongxin Electronics Technology Group Inc. announced that they will report first half, 2026 results on Aug 21, 2026 Tillkännagivande • Apr 29
Xiamen Hongxin Electronics Technology Group Inc., Annual General Meeting, May 20, 2026 Xiamen Hongxin Electronics Technology Group Inc., Annual General Meeting, May 20, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Xiamen, Fujian China New Risk • Apr 20
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 Chinese stocks, typically moving 8.0% 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 Risks Interest payments are not well covered by earnings (2.0x net interest cover). High level of non-cash earnings (34% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Tillkännagivande • Mar 31
Xiamen Hongxin Electronics Technology Group Inc. to Report Q1, 2026 Results on Apr 29, 2026 Xiamen Hongxin Electronics Technology Group Inc. announced that they will report Q1, 2026 results on Apr 29, 2026 Tillkännagivande • Dec 31
Xiamen Hongxin Electronics Technology Group Inc. to Report Fiscal Year 2025 Results on Mar 31, 2026 Xiamen Hongxin Electronics Technology Group Inc. announced that they will report fiscal year 2025 results on Mar 31, 2026 Board Change • Dec 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Shoude Chen was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Nov 21
Xiamen Hongxin Electronics Technology Group Inc. Approves Election of Independent Directors Xiamen Hongxin Electronics Technology Group Inc. at its Extraordinary General Meeting of 2025 on 19 November 2025 approved election of independent directors, cumulative voting system applicable: Chen Shoude, independent director; Wu Yi, independent director. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.08 (vs CN¥0.012 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.08 (up from CN¥0.012 in 3Q 2024). Revenue: CN¥2.06b (up 46% from 3Q 2024). Net income: CN¥36.5m (up CN¥31.0m from 3Q 2024). Profit margin: 1.8% (up from 0.4% in 3Q 2024). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Sep 30
Xiamen Hongxin Electronics Technology Group Inc. to Report Q3, 2025 Results on Oct 30, 2025 Xiamen Hongxin Electronics Technology Group Inc. announced that they will report Q3, 2025 results on Oct 30, 2025 Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: CN¥0.16 (vs CN¥0.041 in 2Q 2024) Second quarter 2025 results: EPS: CN¥0.16 (up from CN¥0.041 in 2Q 2024). Revenue: CN¥1.91b (up 39% from 2Q 2024). Net income: CN¥47.2m (up 124% from 2Q 2024). Profit margin: 2.5% (up from 1.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 02
Xiamen Hongxin Electronics Technology Group Inc. to Report First Half, 2025 Results on Aug 22, 2025 Xiamen Hongxin Electronics Technology Group Inc. announced that they will report first half, 2025 results on Aug 22, 2025 Tillkännagivande • Mar 31
Xiamen Hongxin Electronics Technology Group Inc. to Report Q1, 2025 Results on Apr 16, 2025 Xiamen Hongxin Electronics Technology Group Inc. announced that they will report Q1, 2025 results on Apr 16, 2025 New Risk • Mar 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (14% average weekly change). High level of non-cash earnings (44% accrual ratio). Reported Earnings • Mar 31
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.12 (up from CN¥0.89 loss in FY 2023). Revenue: CN¥5.88b (up 69% from FY 2023). Net income: CN¥56.8m (up CN¥492.3m from FY 2023). Profit margin: 1.0% (up from net loss in FY 2023). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 59%. Revenue is forecast to grow 31% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Mar 31
Xiamen Hongxin Electronics Technology Group Inc., Annual General Meeting, Apr 21, 2025 Xiamen Hongxin Electronics Technology Group Inc., Annual General Meeting, Apr 21, 2025, at 15:00 China Standard Time. Location: The Company's Meeting Room, Xiamen, Fujian China New Risk • Jan 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Tillkännagivande • Dec 31
XiaMen HongXin Electron-tech Group Co.,Ltd to Report Fiscal Year 2024 Results on Mar 31, 2025 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report fiscal year 2024 results on Mar 31, 2025 New Risk • Oct 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CN¥604m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CN¥604m free cash flow). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.012 (vs CN¥0.13 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.012 (up from CN¥0.13 loss in 3Q 2023). Revenue: CN¥1.41b (up 44% from 3Q 2023). Net income: CN¥5.55m (up CN¥66.7m from 3Q 2023). Profit margin: 0.4% (up from net loss in 3Q 2023). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. New Risk • Sep 30
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 Chinese stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 59% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Tillkännagivande • Sep 30
XiaMen HongXin Electron-tech Group Co.,Ltd to Report Q3, 2024 Results on Oct 30, 2024 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.041 (vs CN¥0.22 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.041 (up from CN¥0.22 loss in 2Q 2023). Revenue: CN¥1.37b (up 63% from 2Q 2023). Net income: CN¥21.1m (up CN¥127.3m from 2Q 2023). Profit margin: 1.5% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jun 29
XiaMen HongXin Electron-tech Group Co.,Ltd to Report First Half, 2024 Results on Aug 29, 2024 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report first half, 2024 results on Aug 29, 2024 Tillkännagivande • Mar 30
XiaMen HongXin Electron-tech Group Co.,Ltd to Report Q1, 2024 Results on Apr 16, 2024 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report Q1, 2024 results on Apr 16, 2024 Reported Earnings • Mar 30
Full year 2023 earnings released: CN¥0.89 loss per share (vs CN¥0.66 loss in FY 2022) Full year 2023 results: CN¥0.89 loss per share (further deteriorated from CN¥0.66 loss in FY 2022). Revenue: CN¥3.48b (up 25% from FY 2022). Net loss: CN¥435.5m (loss widened 42% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 29
XiaMen HongXin Electron-tech Group Co.,Ltd, Annual General Meeting, Apr 18, 2024 XiaMen HongXin Electron-tech Group Co.,Ltd, Annual General Meeting, Apr 18, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Xiamen, Fujian China Tillkännagivande • Dec 30
XiaMen HongXin Electron-tech Group Co.,Ltd to Report Fiscal Year 2023 Results on Mar 29, 2024 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report fiscal year 2023 results on Mar 29, 2024 Reported Earnings • Oct 27
Third quarter 2023 earnings released: CN¥0.13 loss per share (vs CN¥0.14 loss in 3Q 2022) Third quarter 2023 results: CN¥0.13 loss per share (improved from CN¥0.14 loss in 3Q 2022). Revenue: CN¥978.0m (up 44% from 3Q 2022). Net loss: CN¥61.1m (loss narrowed 11% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 30
Second quarter 2023 earnings released: CN¥0.22 loss per share (vs CN¥0.013 loss in 2Q 2022) Second quarter 2023 results: CN¥0.22 loss per share (further deteriorated from CN¥0.013 loss in 2Q 2022). Revenue: CN¥838.9m (up 16% from 2Q 2022). Net loss: CN¥106.2m (loss widened CN¥100.3m from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 28
First quarter 2023 earnings released: CN¥0.15 loss per share (vs CN¥0.081 loss in 1Q 2022) First quarter 2023 results: CN¥0.15 loss per share (further deteriorated from CN¥0.081 loss in 1Q 2022). Revenue: CN¥639.7m (down 18% from 1Q 2022). Net loss: CN¥74.5m (loss widened 108% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 27
Third quarter 2022 earnings released Third quarter 2022 results: CN¥0.14 loss per share. Net loss: CN¥68.4m (flat on 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 31
Second quarter 2022 earnings released: CN¥0.013 loss per share (vs CN¥0.055 profit in 2Q 2021) Second quarter 2022 results: CN¥0.013 loss per share (down from CN¥0.055 profit in 2Q 2021). Revenue: CN¥723.2m (down 4.9% from 2Q 2021). Net loss: CN¥5.90m (down 126% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 09
Xiamen Hongxin Electron-Tech Group Co.,Ltd Approves Board Elections XiaMen HongXin Electron-tech Group Co.,Ltd at its EGM held on 07 July 2022 approved election of Ding Cheng, Su Chenguang and Chen Suzhen as non-independent directors and Wu Junlong and He Wei as independent directors. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.081 loss per share (down from CN¥0.055 profit in 1Q 2021). Revenue: CN¥776.9m (up 2.2% from 1Q 2021). Net loss: CN¥35.9m (down 259% from profit in 1Q 2021). Revenue missed analyst estimates by 26%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Tillkännagivande • Apr 20
XiaMen HongXin Electron-tech Group Co.,Ltd to Report Fiscal Year 2021 Results on Apr 29, 2022 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report fiscal year 2021 results on Apr 29, 2022 Reported Earnings • Oct 27
Third quarter 2021 earnings released: CN¥0.20 loss per share (vs CN¥0.16 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CN¥762.0m (down 7.7% from 3Q 2020). Net loss: CN¥110.3m (down 266% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • Aug 26
Second quarter 2021 earnings released: CN¥0.29 loss per share (vs CN¥0.078 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CN¥791.0m (up 16% from 2Q 2020). Net loss: CN¥79.0m (down 344% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥18.80, the stock trades at a trailing P/E ratio of 54.5x. Average trailing P/E is 37x in the Electronic industry in China. Total returns to shareholders of 98% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 32% share price gain to CN¥18.57, the stock trades at a trailing P/E ratio of 53.8x. Average trailing P/E is 39x in the Electronic industry in China. Total returns to shareholders of 89% over the past three years. Tillkännagivande • Jun 05
XiaMen HongXin Electron-tech Group Co.,Ltd (SZSE:300657) agreed to acquire Suzhou Smartron Technology Corporation Limited from Wu Shaofeng, Zhu Xiaoyan, Suzhou Huayang Tongchuang Investment Center (Limited Partnership) and Yan Yonghong for CNY 390 million. XiaMen HongXin Electron-tech Group Co.,Ltd (SZSE:300657) agreed to acquire Suzhou Smartron Technology Corporation Limited from Wu Shaofeng, Zhu Xiaoyan, Suzhou Huayang Tongchuang Investment Center (Limited Partnership) and Yan Yonghong for CNY 390 million on June 2, 2021. The consideration will be in cash and stock. Cash consideration of CNY 42.5 million to Wu Shaofeng for 35% stake, CNY 42.5 million to Zhu Xiaoyan for 30% stake, CNY 15 million to Suzhou Huayang Tongchuang Investment Center (Limited Partnership) for 20% stake and CNY 30.75 million to Yan Yonghong for 15% stake. Remaining consideration will be in stock.The transaction will be financed by raising supporting funds of not more than CNY 259.250 million by issuing not more than 30% of total share capital to not more than 35 investors and the shares will be issued at not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction is subject to XiaMen HongXin Electron-tech Directorate and Shareholders’ Approvals of the Official Plan, Suzhou Smartron Technology Corporation Limited’s Shareholders’ Approval of the Official Plan, The Shenzhen Stock Exchange’s Approval, The CSRC’s Approval and Other Necessary Approvals. Tillkännagivande • Jun 04
XiaMen HongXin Electron-tech Group Co.,Ltd announced that it expects to receive CNY 259.25 million in funding XiaMen HongXin Electron-tech Co.,Ltd. (SZSE:300657) announced a private placement of common shares for gross proceeds of not more than CNY 259,250,000 on June 2, 2021. The company will issue shares not more than 30% of total share capital at an issuance price of not less than 80% of the average price in the 20 trading days before the pricing reference date to not more than 35 investors. The transaction has been approved at the 25th meeting of the 3rd directorate, and is subject to approval at company’s directorate, shareholders of the company and Shenzhen Stock Exchange. The shares cannot be transferred within 6 months from the issuance closing date. Tillkännagivande • May 19
Xiamen Hongxin Electron-Tech Group Co.,Ltd Approves Final Cash Dividend for the Year 2020 XiaMen HongXin Electron-tech Group Co.,Ltd announced at the AGM held on May 14, 2021 that the company approved final profit distribution of CNY 0.60000000 per 10 shares (tax included) for 2020. Tillkännagivande • Apr 27
Xiamen Hongxin Electron-Tech Group Co.,Ltd Announces the Profit Distribution Proposal for 2020 XiaMen HongXin Electron-tech Group Co.,Ltd announced the profit distribution proposal for 2020. The company announced Cash dividend/10 shares (tax included) of CNY 0.60000000. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS CN¥0.066 (vs CN¥0.089 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥760.1m (up 87% from 1Q 2020). Net income: CN¥22.6m (up CN¥53.1m from 1Q 2020). Profit margin: 3.0% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Tillkännagivande • Feb 10
XiaMen HongXin Electron-tech Group Co.,Ltd (SZSE:300657) signed a share transfer agreement to acquire 51% stake in Xiamen Quandian Optoelectronics Co., Ltd. from a group of shareholders for CNY 61.2 million. XiaMen HongXin Electron-tech Group Co.,Ltd (SZSE:300657) signed a share transfer agreement to acquire 51% stake in Xiamen Quandian Optoelectronics Co., Ltd. from a group of shareholders for CNY 61.2 million on February 7, 2021. In December 31, 2020, Xiamen Quandian Optoelectronics Co., Ltd. reported a total assets of CNY 87.5 million, total common equity of CNY 15.1 million, total revenues of CNY 81.9 and net income of CNY 3.9 million. Is New 90 Day High Low • Jan 29
New 90-day low: CN¥15.13 The company is down 6.0% from its price of CN¥16.06 on 30 October 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day low: CN¥15.76 The company is down 13% from its price of CN¥18.18 on 15 September 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period. Tillkännagivande • Dec 04
Xiamen Hongxin Electron-Tech Group Co.,Ltd Announces Resignation and By-Election of Directors XiaMen HongXin Electron-tech Group Co.,Ltd at its Extraordinary General Meeting of 2019 held on 02 December 2020 approved resignation and by-election of Song Qin, non-independent director and Li Zhen, non-independent director. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥107.3m, down 38% from the prior year. Total revenue was CN¥2.43b over the last 12 months, down 2.9% from the prior year. Is New 90 Day High Low • Oct 26
New 90-day low: CN¥16.66 The company is down 33% from its price of CN¥24.70 on 28 July 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 2.0% over the same period. Tillkännagivande • Aug 11
XiaMen HongXin Electron-tech Group Co.,Ltd to Report First Half, 2020 Results on Aug 27, 2020 XiaMen HongXin Electron-tech Group Co.,Ltd announced that they will report first half, 2020 results on Aug 27, 2020 Tillkännagivande • Jul 23
XiaMen HongXin Electron-tech Group Co.,Ltd (SZSE:300657) and Xiamen Institute of Flexible Electronics Co., Ltd. agreed to acquire 23.5% stake in Shenzhen Ruihu Tech Co., Ltd. from Shenzhen Ruihu Commercial Services Partnership Enterprise (Limited Partnership) for CNY 28.5 million. XiaMen HongXin Electron-tech Group Co.,Ltd (SZSE:300657) and Xiamen Institute of Flexible Electronics Co., Ltd. agreed to acquire 23.5% stake in Shenzhen Ruihu Tech Co., Ltd. from Shenzhen Ruihu Commercial Services Partnership Enterprise (Limited Partnership) for CNY 28.5 million on July 21, 2020. Under the agreement, XiaMen HongXin Electron-tech Group Co.,Ltd will acquire additional 21% stake in Shenzhen Ruihu Tech Co., Ltd. for CNY 25.5 million and Xiamen Institute of Flexible Electronics Co., Ltd. will acquire 2.5% stake in Shenzhen Ruihu Tech Co., Ltd. for CNY 3.03 million. Post the acquisition, XiaMen HongXin Electron-tech Group Co.,Ltd will hold 55% stake and Shenzhen Ruihu Commercial Services Partnership Enterprise (Limited Partnership) will retain 16.19% stake in Shenzhen Ruihu Tech Co., Ltd. After the signing of the agreement, XiaMen HongXin Electron-tech Group Co.,Ltd will pay 50% of the consideration and the remaining amount will be paid within 7 working days from the transfer completion. As of December 31, 2019, Shenzhen Ruihu Tech Co., Ltd. has a total assets of CNY 10.4 million, net assets of CNY 9.9 million, revenue of CNY 0.37 million and net loss of CNY 1.11 million. The acquisition does not need the approvals of XiaMen HongXin Electron-tech Group Co.,Ltd's directorate and shareholders. 
