New Risk • 22h
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 0% Dividend yield: 4.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Earnings have declined by 11% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (0% payout ratio). Declared Dividend • Aug 20
Dividend of HK$0.08 announced Shareholders will receive a dividend of HK$0.08. Ex-date: 4th September 2026 Payment date: 24th September 2026 Dividend yield will be 2.1%, which is lower than the industry average of 4.2%. Tillkännagivande • Aug 08
PAX Global Technology Limited to Report First Half, 2026 Results on Aug 18, 2026 PAX Global Technology Limited announced that they will report first half, 2026 results on Aug 18, 2026 Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: HK$0.71 (vs HK$0.67 in FY 2024) Full year 2025 results: EPS: HK$0.71 (up from HK$0.67 in FY 2024). Revenue: HK$5.87b (down 2.9% from FY 2024). Net income: HK$753.6m (up 5.6% from FY 2024). Profit margin: 13% (up from 12% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 19
PAX Global Technology Limited, Annual General Meeting, May 20, 2026 PAX Global Technology Limited, Annual General Meeting, May 20, 2026. New Risk • Mar 15
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 Risk Earnings have declined by 2.0% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Tillkännagivande • Mar 09
PAX Global Technology Limited to Report Fiscal Year 2025 Results on Mar 19, 2026 PAX Global Technology Limited announced that they will report fiscal year 2025 results on Mar 19, 2026 Board Change • Dec 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non-Executive Director Wilson Fok was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Dec 20
PAX Global Technology Limited Announces Committee Changes, Effective 19 December 2025 To strengthen the Company's risk management and internal control systems and strategic oversight, amongst others, the board of directors of PAX Global Technology Limited announced the establishment of the risk management committee and strategy committee of the Company. ESTABLISHMENT OF RISK MANAGEMENT COMMITTEE: The Board has established the Risk Management Committee for the purposes of, among others, providing oversight of the Group's risk management system and internal controls, assessing the Group's crisis management capabilities and reporting its findings to assist the Board's decision making with effect from 19 December 2025. Mr. Li Heguo ("Mr. Li HG"), an executive Director, has been appointed as a member and the chairman of the Risk Management Committee, and Mr. Luo Shaowen ("Mr. Luo"), an executive Director and the chief executive officer of the Company, Mr. Li Wenjin ("Mr. Li") and Mr. Zhang Hui ("Mr. Zhang"), executive Directors, and Mr. Cheung Shi Yeung, the Chief Financial Officer and Company Secretary of the Company, have been appointed as members of the Risk Management Committee. ESTABLISHMENT OF STRATEGY COMMITTEE: The Board has established the Strategy Committee for the purpose of, among others, supervising, monitoring the implementation of the Group's overall development strategies and making recommendations on the medium-to-long-term development strategies of the Group with effect from 19 December 2025. Mr. Xu Changjun ("Mr. Xu"), the chairman of the Company and an executive Director, has been appointed as a member and the chairman of the Strategy Committee, and Mr. Luo, Mr. Li, Mr. Li HG and Mr. Zhang have been appointed as members of the Strategy Committee. CHANGE OF COMPOSITION OF THE NOMINATION COMMITTEE: With effect from 19 December 2025, Mr. Xu has been appointed as a member of the nomination committee of the Company (the "Nomination Committee") and Mr. Li has ceased to be a member of the Nomination Committee. Following the aforesaid, the Nomination Committee comprises two independent non-executive Directors, namely Dr. Wu Min (Chairperson of the Nomination Committee) and Mr. Yip Wai Ming, and one executive Director, namely Mr. Xu. New Risk • Dec 10
New major risk - Revenue and earnings growth Earnings have declined by 2.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Declared Dividend • Aug 20
First half dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 5th September 2025 Payment date: 25th September 2025 Dividend yield will be 7.3%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (82% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 29% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 19
First half 2025 earnings released: EPS: HK$0.37 (vs HK$0.42 in 1H 2024) First half 2025 results: EPS: HK$0.37 (down from HK$0.42 in 1H 2024). Revenue: HK$2.72b (down 9.9% from 1H 2024). Net income: HK$390.9m (down 14% from 1H 2024). Profit margin: 14% (in line with 1H 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$5.36, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Electronic industry in Hong Kong. Total returns to shareholders of 9.0% over the past three years. Upcoming Dividend • May 26
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 02 June 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.6%). Tillkännagivande • May 21
PAX Global Technology Limited Approves Final Dividend for the Year Ended 31 December 2024 PAX Global Technology Limited announced that at the annual general meeting held on 21 May 2025 approved a final dividend of HKD 0.25 per ordinary share for the year ended 31 December 2024. Price Target Changed • Mar 28
Price target decreased by 7.5% to HK$6.00 Down from HK$6.49, the current price target is provided by 1 analyst. New target price is 22% above last closing price of HK$4.90. Stock is down 21% over the past year. The company is forecast to post earnings per share of HK$0.70 for next year compared to HK$0.67 last year. Declared Dividend • Mar 22
Final dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 2nd June 2025 Payment date: 26th June 2025 Dividend yield will be 9.7%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (73% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 70% over the next 2 years, which should provide support to the dividend and adequate earnings cover. New Risk • Mar 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 17% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 21
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: HK$0.67 (down from HK$1.08 in FY 2023). Revenue: HK$6.04b (down 9.9% from FY 2023). Net income: HK$713.4m (down 38% from FY 2023). Profit margin: 12% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Tillkännagivande • Mar 20
PAX Global Technology Limited, Annual General Meeting, May 21, 2025 PAX Global Technology Limited, Annual General Meeting, May 21, 2025. New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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. This is currently the only risk that has been identified for the company. Tillkännagivande • Mar 10
PAX Global Technology Limited to Report Fiscal Year 2024 Results on Mar 20, 2025 PAX Global Technology Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Mar 20, 2025 Tillkännagivande • Jan 02
Pax Global Technology Limited Provides Unaudited Consolidated Earnings Guidance for the Financial Year Ending 31 December 2024 PAX Global Technology Limited provided unaudited consolidated earnings guidance for the financial year ending 31 December 2024. For the period, the company expects to record a decrease of approximately 30% to 40% in net profit for the financial year ending 31 December 2024 (the "Reporting Period") as compared to a net profit of approximately HKD 1,165 million for the financial year ended 31 December 2023. The Board considers that the expected decrease in net profit for the Reporting Period is mainly attributable to the following factors: (i) decreased revenue in the Latin America and the Commonwealth of Independent States (LACIS) region and the United States of America and Canada (USCA) region during the Reporting Period, stemming from the global economic uncertainty, as observed in the first half of the Reporting Period and persisting throughout year 2024, which has continued to negatively impact the market demand; (ii) incurrence of a one-off share-based payment expenses of approximately HKD 32 million in relation to the share options of the Company, for which the exercise period was extended on 21 August 2024; and (iii) absence in the Reporting Period of a one-off additional research and development tax incentive of approximately HKD 73 million recognised in year 2023. Declared Dividend • Sep 08
First half dividend of HK$0.24 announced Shareholders will receive a dividend of HK$0.24. Ex-date: 9th September 2024 Payment date: 26th September 2024 Dividend yield will be 10%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (84% cash payout ratio). The dividend has increased by an average of 32% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Aug 28
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from HK$7.48b to HK$6.18b. EPS estimate fell from HK$1.20 to HK$0.94 per share. Net income forecast to grow 14% next year vs 51% growth forecast for Electronic industry in Hong Kong. Consensus price target down from HK$9.00 to HK$6.49. Share price was steady at HK$4.51 over the past week. Reported Earnings • Aug 23
First half 2024 earnings released: EPS: HK$0.42 (vs HK$0.60 in 1H 2023) First half 2024 results: EPS: HK$0.42 (down from HK$0.60 in 1H 2023). Revenue: HK$3.01b (down 16% from 1H 2023). Net income: HK$454.6m (down 30% from 1H 2023). Profit margin: 15% (down from 18% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 22
First half dividend of HK$0.24 announced Shareholders will receive a dividend of HK$0.24. Ex-date: 6th September 2024 Payment date: 26th September 2024 Dividend yield will be 11%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not covered by cash flows (176% cash payout ratio). The dividend has increased by an average of 31% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Aug 20
Pax Global Technology Limited Declares Interim Dividend for the Six Months Ended 30 June 2024, Payable on 26 September 2024 PAX Global Technology Limited declared Interim Dividend for the Six Months Ended 30 June 2023 of HKD 0.24 per share, payable on 26 September 2024. Ex-dividend date 06 September 2024, Record date: 12 September 2024. Tillkännagivande • Aug 09
PAX Global Technology Limited to Report First Half, 2024 Results on Aug 20, 2024 PAX Global Technology Limited announced that they will report first half, 2024 results on Aug 20, 2024 Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$5.00, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 12x in the Electronic industry in Hong Kong. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$9.60 per share. Upcoming Dividend • May 27
Upcoming dividend of HK$0.23 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (3.1%). Tillkännagivande • May 23
PAX Global Technology Limited Approves Final Dividend for the Year Ended 31 December 2023 PAX Global Technology Limited announced that at the annual general meeting held on 22 May 2024 approved a final dividend of HKD 0.23 per ordinary share for the year ended 31 December 2023. Reported Earnings • Apr 20
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: HK$1.08 (down from HK$1.17 in FY 2022). Revenue: HK$6.71b (down 17% from FY 2022). Net income: HK$1.16b (down 8.7% from FY 2022). Profit margin: 17% (up from 16% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 6.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Tillkännagivande • Mar 21
PAX Global Technology Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on 27 June 2024 PAX Global Technology Limited proposed final dividend of HKD 0.23 per share for the year ended December 31, 2023. Date of shareholders' approval is 22 May 2024, Ex-dividend date is 03 June 2024, Record date is 07 June 2024 and Payment date is 27 June 2024. Tillkännagivande • Mar 20
PAX Global Technology Limited, Annual General Meeting, May 22, 2024 PAX Global Technology Limited, Annual General Meeting, May 22, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: HK$1.08 (vs HK$1.17 in FY 2022) Full year 2023 results: EPS: HK$1.08 (down from HK$1.17 in FY 2022). Revenue: HK$6.71b (down 17% from FY 2022). Net income: HK$1.16b (down 8.7% from FY 2022). Profit margin: 17% (up from 16% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Tillkännagivande • Mar 14
PAX Global Technology Limited Appoints Cheung Shi Yeung as Executive Director The board of directors of PAX Global Technology Limited announced that Mr. Cheung Shi Yeung has been appointed as an executive director of the Company with effect from 14 March 2024. Mr. Cheung, aged 40, is the Chief Financial Officer and one of the joint company secretaries of the Company, and a company secretary in a number of subsidiaries of the Company. He is responsible for overseeing the business development, finance, compliance, merger and acquisition, and investor relations of the Group. He was appointed as the Chief Financial Officer of the Company in October 2016 and the joint company secretary of the Company in January 2018. Mr. Cheung graduated from The Chinese University of Hong Kong with a bachelor 's degree in Business Administration in 2006 and obtained a master 's degree in Business Administration jointly from Columbia University, London Business School and The University of Hong Kong in 2021. Mr. Cheung has over 15 years of financial and accounting related experience. He is a member of the Hong Kong Institute of Certified Public Accountants and an associate of The Chartered Institute of Management Accountants. Prior to joining the Group, Mr. Cheung worked for an international public accountancy firm and was involved in a number of audit and assurance, capital market transaction and advisory projects advising corporate clients including listed companies and conglomerates worldwide. Tillkännagivande • Mar 08
PAX Global Technology Limited to Report Fiscal Year 2023 Final Results on Mar 19, 2024 PAX Global Technology Limited announced that they will report fiscal year 2023 final results on Mar 19, 2024 Upcoming Dividend • Aug 25
Upcoming dividend of HK$0.21 per share at 7.2% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 21 September 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 7.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (4.0%). Major Estimate Revision • Aug 24
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from HK$8.95b to HK$7.34b. EPS estimate fell from HK$1.22 to HK$1.13 per share. Net income forecast to grow 6.3% next year vs 25% growth forecast for Electronic industry in Hong Kong. Consensus price target down from HK$9.73 to HK$8.83. Share price fell 9.7% to HK$5.78 over the past week. Price Target Changed • Aug 23
Price target decreased by 9.2% to HK$8.83 Down from HK$9.73, the current price target is an average from 3 analysts. New target price is 52% above last closing price of HK$5.81. Stock is down 25% over the past year. The company is forecast to post earnings per share of HK$1.13 for next year compared to HK$1.17 last year. Reported Earnings • Aug 19
First half 2023 earnings released: EPS: HK$0.60 (vs HK$0.65 in 1H 2022) First half 2023 results: EPS: HK$0.60 (down from HK$0.65 in 1H 2022). Revenue: HK$3.57b (down 15% from 1H 2022). Net income: HK$650.6m (down 7.0% from 1H 2022). Profit margin: 18% (up from 17% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has 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. Tillkännagivande • Aug 18
Pax Global Technology Limited Declares Interim Dividend for the Six Months Ended 30 June 2023, Payable on 21 September 2023 PAX Global Technology Limited declared Interim Dividend for the Six Months Ended 30 June 2023 of HKD 0.21 per share, payable on 21 September 2023. Ex-dividend date 01 September 2023, Record date: 07 September 2023. Tillkännagivande • Aug 08
PAX Global Technology Limited to Report First Half, 2023 Results on Aug 17, 2023 PAX Global Technology Limited announced that they will report first half, 2023 results on Aug 17, 2023 Upcoming Dividend • May 26
Upcoming dividend of HK$0.19 per share at 6.1% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 27 June 2023. Payout ratio is a comfortable 31% but the company is paying out more than the cash it is generating. Trailing yield: 6.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.4%). Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: HK$1.17 (vs HK$0.99 in FY 2021) Full year 2022 results: EPS: HK$1.17 (up from HK$0.99 in FY 2021). Revenue: HK$8.06b (up 12% from FY 2021). Net income: HK$1.26b (up 17% from FY 2021). Profit margin: 16% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Mar 14
Price target decreased by 16% to HK$10.10 Down from HK$12.07, the current price target is provided by 1 analyst. New target price is 45% above last closing price of HK$6.95. Stock is up 51% over the past year. The company is forecast to post earnings per share of HK$1.26 for next year compared to HK$0.99 last year. Board Change • Nov 16
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. 6 highly experienced directors. CEO & Executive Director Jack Lu was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 19
Upcoming dividend of HK$0.17 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 16 September 2022. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Lower than top quartile of Hong Kong dividend payers (8.3%). Lower than average of industry peers (5.4%). Reported Earnings • Aug 13
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down HK$515.0m from profit in 1H 2021). Profit margin: (down from 16% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 14%, compared to a 3.4% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 16% share price gain to HK$7.10, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Electronic industry in Hong Kong. Total returns to shareholders of 153% over the past three years. Upcoming Dividend • May 20
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 27 May 2022. Payment date: 21 June 2022. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (5.2%). 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. No experienced directors. 6 highly experienced directors. CEO & Executive Director Jack Lu was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 15% share price gain to HK$6.04, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Electronic industry in Hong Kong. Total returns to shareholders of 75% over the past three years. Price Target Changed • Nov 18
Price target decreased to HK$11.21 Down from HK$13.03, the current price target is an average from 4 analysts. New target price is 71% above last closing price of HK$6.57. Stock is up 37% over the past year. The company is forecast to post earnings per share of HK$0.95 for next year compared to HK$0.83 last year. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment deteriorated over the past week After last week's 44% share price decline to HK$5.40, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Electronic industry in Hong Kong. Total returns to shareholders of 54% over the past three years. Upcoming Dividend • Aug 19
Upcoming dividend of HK$0.12 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 16 September 2021. Trailing yield: 2.6%. Lower than top quartile of Hong Kong dividend payers (6.5%). Lower than average of industry peers (4.0%). Price Target Changed • Aug 16
Price target increased to HK$12.38 Up from HK$11.50, the current price target is an average from 4 analysts. New target price is 39% above last closing price of HK$8.93. Stock is up 73% over the past year. Reported Earnings • Aug 15
First half 2021 earnings released: EPS HK$0.47 (vs HK$0.35 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: HK$3.32b (up 31% from 1H 2020). Net income: HK$515.0m (up 34% from 1H 2020). Profit margin: 16% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 33% per year. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 15% share price gain to HK$10.00, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Electronic industry in Hong Kong. Total returns to shareholders of 182% over the past three years. Upcoming Dividend • May 24
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 22 June 2021. Trailing yield: 2.2%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (4.1%).