New Risk • Jun 15
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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$12.49, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Hong Kong. Total returns to shareholders of 247% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.12 per share. Board Change • May 20
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. 6 non-independent directors. Independent Non-Executive Director Bin Gao was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Mar 20
VSTECS Holdings Limited announces Annual dividend, payable on July 03, 2026 VSTECS Holdings Limited announced Annual dividend of HKD 0.4177 per share payable on July 03, 2026, ex-date on May 28, 2026 and record date on May 29, 2026. Tillkännagivande • Mar 19
VSTECS Holdings Limited, Annual General Meeting, May 26, 2026 VSTECS Holdings Limited, Annual General Meeting, May 26, 2026. Tillkännagivande • Feb 23
VSTECS Holdings Limited to Report Fiscal Year 2025 Results on Mar 19, 2026 VSTECS Holdings Limited announced that they will report fiscal year 2025 results on Mar 19, 2026 Tillkännagivande • Aug 01
VSTECS Holdings Limited to Report Q2, 2025 Results on Aug 21, 2025 VSTECS Holdings Limited announced that they will report Q2, 2025 results on Aug 21, 2025 Tillkännagivande • May 22
VSTECS Holdings Limited Approves Final Dividend for the Year Ended 31 December 2024 VSTECS Holdings Limited announced that at its AGM held on 22 May 2025, the shareholders approved final dividend of 25.7 HK cents per ordinary share for the year ended 31 December 2024. Tillkännagivande • Feb 27
VSTECS Holdings Limited to Report Fiscal Year 2024 Final Results on Mar 21, 2025 VSTECS Holdings Limited announced that they will report fiscal year 2024 final results at 4:00 PM, China Standard Time on Mar 21, 2025 Tillkännagivande • Dec 20
Vstecs Holdings Limited Announces Board and committee Changes VSTECS Holdings Limited announced that Mr. Lam Hin Chi ("Mr. Lam") has tendered his resignation as an independent non-executive director and chairman of the audit committee, a member of the remuneration committee and nomination committee of the Company with effect from 20 December 2024 as he intended to devote more time to his other personal commitments. The Board announces that Mr. Wang Xiaolong has tendered his resignation as an independent non-executive director and a member of the audit committee, the remuneration committee and nomination committee of the Company with effect from 20 December 2024 as he intended to devote more time to his other personal commitments. the Board Further Announces That Mr. Yu Dingheng (Mr. Yu) Has Been Appointed as an Independent Non-Executive Director and Chairman of the Audit Committee, A Member of the Remuneration Committee and Nomination Committee of the Company with Effect from 20 December 2024. Mr. Yu, Aged 50, Holds A Bachelor Degree in Economic Information Management from the Jiangxi University of Finance and Economics and A Master Degree in Business Administration from the Pbc School of Finance, Tsinghua University. Mr. Yu Has over 25 Years of Experience in Asset Management and Capital Market. from 2000 to 2005, He Worked as A Business Director of Capital Market Division of (Ping an Securities Co., Ltd). from 2006, Mr. Yu Has Been A Founder, Chairman and Investment Director of (Shenzhen Yihu Investment Management Co. Ltd.). He Is Currently A Visiting Professor of the National Digital Literacy and Skills Training Base and Investment and Digital Economy At the Jiangxi University of Finance and Economics. Reported Earnings • Aug 24
First half 2024 earnings released: EPS: HK$0.33 (vs HK$0.36 in 1H 2023) First half 2024 results: EPS: HK$0.33 (down from HK$0.36 in 1H 2023). Revenue: HK$40.1b (up 18% from 1H 2023). Net income: HK$453.3m (down 9.7% from 1H 2023). Profit margin: 1.1% (down from 1.5% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% 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 17% per year whereas the company’s share price has fallen by 15% per year. Tillkännagivande • Aug 01
VSTECS Holdings Limited to Report First Half, 2024 Results on Aug 21, 2024 VSTECS Holdings Limited announced that they will report first half, 2024 results on Aug 21, 2024 Buy Or Sell Opportunity • Jun 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to HK$4.50. The fair value is estimated to be HK$3.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 14%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Tillkännagivande • May 30
Vstecs Holdings Limited Approves Final Dividend for the Year Ended 31 December 2023 VSTECS Holdings Limited at the Annual General Meeting Held on 30 May 2024 approved a final dividend of HKD 25.7 cents per ordinary share for the year ended 31 December 2023. Upcoming Dividend • May 30
Upcoming dividend of HK$0.26 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 12 July 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 5.6%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (3.1%). Reported Earnings • May 05
Full year 2023 earnings released: EPS: HK$0.66 (vs HK$0.58 in FY 2022) Full year 2023 results: EPS: HK$0.66 (up from HK$0.58 in FY 2022). Revenue: HK$73.9b (down 4.4% from FY 2022). Net income: HK$922.0m (up 12% from FY 2022). Profit margin: 1.2% (up from 1.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.4% 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 14% per year whereas the company’s share price has fallen by 11% per year. Tillkännagivande • May 01
VSTECS Holdings Limited, Annual General Meeting, May 30, 2024 VSTECS Holdings Limited, Annual General Meeting, May 30, 2024, at 14:00 China Standard Time. Location: Room 1, 10/F, United Centre, 95 Queensway, Admiralty Hong Kong Agenda: To receive and consider the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and independent auditors of the Company for the year ended 31 December 2023; to declare a final dividend; to re-elect Mr. Li Yue as director of the Company; to re-elect Mr. Li Wei as director of the Company; to re-elect Mr. Wang Xiaolong as director of the Company; to authorise the board of directors of the Company to fix the remuneration of the directors of the Company; to re-appoint KPMG as the auditors of the Company and to authorise the board of directors of the Company to fix their remuneration; and to consider other matters. Declared Dividend • Mar 23
Dividend increased to HK$0.26 Dividend of HK$0.26 is 51% higher than last year. Ex-date: 6th June 2024 Payment date: 12th July 2024 Dividend yield will be 6.2%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 18% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: HK$0.66 (vs HK$0.58 in FY 2022) Full year 2023 results: EPS: HK$0.66 (up from HK$0.58 in FY 2022). Revenue: HK$73.9b (down 4.4% from FY 2022). Net income: HK$922.0m (up 12% from FY 2022). Profit margin: 1.2% (up from 1.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% 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 14% per year whereas the company’s share price has fallen by 16% per year. Tillkännagivande • Mar 21
Vstecs Holdings Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 12 July 2024 VSTECS Holdings Limited proposed final dividend of HKD 0.257 per share for the year ended 31 December 2023. Ex-dividend date 06 June 2024, Record date 07 June 2024 and Payment date 12 July 2024. Date of shareholders' approval 30 May 2024. Tillkännagivande • Feb 27
VSTECS Holdings Limited to Report Fiscal Year 2023 Results on Mar 21, 2024 VSTECS Holdings Limited announced that they will report fiscal year 2023 results on Mar 21, 2024 Reported Earnings • Aug 25
First half 2023 earnings released: EPS: HK$0.36 (vs HK$0.35 in 1H 2022) First half 2023 results: EPS: HK$0.36. Revenue: HK$34.0b (down 11% from 1H 2022). Net income: HK$502.1m (flat on 1H 2022). Profit margin: 1.5% (up from 1.3% 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 21% growth forecast for the Electronic industry in Hong Kong. Tillkännagivande • Aug 03
VSTECS Holdings Limited to Report First Half, 2023 Results on Aug 24, 2023 VSTECS Holdings Limited announced that they will report first half, 2023 results on Aug 24, 2023 Tillkännagivande • Jun 16
VSTECS Holdings Limited Announces Change of Company Secretary The board of directors of VSTECS Holdings Limited announced that Ms. Yue Cheuk Ying (‘Ms. Yue’) has resigned as the company secretary and authorized representative of the Company under Rule 3.05 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (the ‘Stock Exchange’) with effect from 15 June 2023. Ms. Yue has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company or the Stock Exchange. The Board further announced that Mr. Lam Chung Sui (‘Mr. Lam’) has been appointed as the company secretary and authorized representative of the Company with effect from 15 June 2023. Mr. Lam holds a Bachelor Degree in Accounting from the University of Hull. He is a fellow member of the Hong Kong Institute of Certified Public Accountants. Upcoming Dividend • May 24
Upcoming dividend of HK$0.17 per share at 4.1% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 06 July 2023. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.3%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: HK$0.58 (vs HK$0.93 in FY 2021) Full year 2022 results: EPS: HK$0.58 (down from HK$0.93 in FY 2021). Revenue: HK$77.3b (down 1.3% from FY 2021). Net income: HK$823.1m (down 37% from FY 2021). Profit margin: 1.1% (down from 1.7% in FY 2021). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Electronic industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 9% per year. Tillkännagivande • Jan 20
VSTECS Holdings Limited Appoints Zhang Dongjie as Non-Executive Director The board of directors Of VSTECS Holdings Limited announced that Mr. Zhang Dongjie (‘Mr. Zhang’) has been appointed as a non-executive director of the Company with effect from 19 January 2023. Mr. Zhang, aged 49, graduated from Xiamen University in the People 's Republic of China (the ‘PRC’) with a Master degree in Economics in 2005. Mr. Zhang joined (Shenzhen Eternal Asia Supply Chain Management Ltd.) (‘Shenzhen Eternal Asia’) as the deputy general manager from January 2020. Shenzhen Eternal Asia, a joint stock company established in the PRC with limited liability whose shares are listed on the Main Board of the Shenzhen Stock Exchange, is a substantial shareholder of the Company holding approximately 17.38% of the issued share capital of the Company as at the date of this announcement. Mr. Zhang has extensive management experience and had previously served as senior management in several enterprises in the PRC, such as (Kingway Beer Group), (Shenzhen Urban Construction and Development (Group)), (Shenzhen Tongchan Group Co., Ltd) and (Shenzhen Tongchan Star Co., Ltd). Tillkännagivande • Jan 05
VSTECS Holdings Limited Announces Resignation of Xia Bin as Non-Executive Director The board of directors of VSTECS Holdings Limited announced that Mr. Xia Bin (Mr. Xia) has tendered his resignation as a non-executive director of the Company with effect from 4 January 2023 as he intended to devote more time to his other personal commitments. Mr. Xia confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. Board Change • Nov 16
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. 7 non-independent directors. Independent Non-Executive Director Yi Li was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$3.75, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Electronic industry in Hong Kong. Total returns to shareholders of 7.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$4.36 per share. Buying Opportunity • Aug 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be HK$6.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 12% in a year. Earnings is forecast to grow by 21% in the next year. Reported Earnings • Aug 26
First half 2022 earnings released: EPS: HK$0.35 (vs HK$0.46 in 1H 2021) First half 2022 results: EPS: HK$0.35 (down from HK$0.46 in 1H 2021). Revenue: HK$38.1b (up 9.2% from 1H 2021). Net income: HK$502.6m (down 22% from 1H 2021). Profit margin: 1.3% (down from 1.8% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 12%, compared to a 7.5% growth forecast for the Electronic industry in Hong Kong. Upcoming Dividend • May 25
Upcoming dividend of HK$0.27 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 07 July 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (5.2%). Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: HK$0.93 (vs HK$0.76 in FY 2020) Full year 2021 results: EPS: HK$0.93 (up from HK$0.76 in FY 2020). Revenue: HK$78.3b (up 12% from FY 2020). Net income: HK$1.31b (up 23% from FY 2020). Profit margin: 1.7% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 12% growth forecast for the industry in Hong Kong. Board Change • Apr 27
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, 1 was an independent director. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Non-Executive Director Yi Li was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • Dec 24
Chairman & CEO recently bought HK$15m worth of stock On the 22nd of December, Jialin Li bought around 2m shares on-market at roughly HK$6.85 per share. This was the largest purchase by an insider in the last 3 months. This was Jialin's only on-market trade for the last 12 months. Recent Insider Transactions • Dec 24
Chairman & CEO recently bought HK$15m worth of stock On the 22nd of December, Jialin Li bought around 2m shares on-market at roughly HK$6.85 per share. This was the largest purchase by an insider in the last 3 months. This was Jialin's only on-market trade for the last 12 months. Reported Earnings • Aug 29
First half 2021 earnings released: EPS HK$0.46 (vs HK$0.30 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$34.9b (up 21% from 1H 2020). Net income: HK$645.0m (up 53% from 1H 2020). Profit margin: 1.8% (up from 1.5% in 1H 2020). The increase in margin was driven by higher revenue. Executive Departure • May 27
Independent Non-Executive Director has left the company On the 25th of May, Wai Man Hung's tenure as Independent Non-Executive Director ended after 5.0 years in the role. We don't have any record of a personal shareholding under Wai Man's name. Wai Man is the only executive to leave the company over the last 12 months. Upcoming Dividend • May 24
Upcoming dividend of HK$0.22 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 07 July 2021. Trailing yield: 3.0%. Lower than top quartile of Hong Kong dividend payers (6.0%). Lower than average of industry peers (4.1%). Reported Earnings • Apr 18
Full year 2020 earnings released: EPS HK$0.76 (vs HK$0.57 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$70.0b (up 5.7% from FY 2019). Net income: HK$1.07b (up 32% from FY 2019). Profit margin: 1.5% (up from 1.2% in FY 2019). The increase in margin was driven by higher revenue. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS HK$0.76 (vs HK$0.57 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$70.0b (up 5.7% from FY 2019). Net income: HK$1.07b (up 32% from FY 2019). Profit margin: 1.5% (up from 1.2% in FY 2019). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$6.96, the stock is trading at a trailing P/E ratio of 11.7x, down from the previous P/E ratio of 14.3x. This compares to an average P/E of 15x in the Electronic industry in Hong Kong. Total returns to shareholders over the past year are 98%. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 17% share price gain to HK$8.13, the stock is trading at a trailing P/E ratio of 12.6x, up from the previous P/E ratio of 10.7x. This compares to an average P/E of 14x in the Electronic industry in Hong Kong. Total returns to shareholders over the past year are 131%. Is New 90 Day High Low • Feb 09
New 90-day high: HK$8.13 The company is up 46% from its price of HK$5.55 on 11 November 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$5.72 per share. Is New 90 Day High Low • Jan 21
New 90-day high: HK$7.72 The company is up 52% from its price of HK$5.09 on 23 October 2020. The Hong Kong market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.79 per share. Is New 90 Day High Low • Jan 04
New 90-day high: HK$6.85 The company is up 32% from its price of HK$5.19 on 07 October 2020. The Hong Kong market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.78 per share. Valuation Update With 7 Day Price Move • Nov 28
Market bids up stock over the past week After last week's 19% share price gain to HK$6.80, the stock is trading at a trailing P/E ratio of 11.5x, up from the previous P/E ratio of 9.6x. This compares to an average P/E of 12x in the Electronic industry in Hong Kong. Total returns to shareholders over the past year are 78%. Valuation Update With 7 Day Price Move • Nov 25
Market bids up stock over the past week After last week's 16% share price gain to HK$6.42, the stock is trading at a trailing P/E ratio of 10.8x, up from the previous P/E ratio of 9.4x. This compares to an average P/E of 12x in the Electronic industry in Hong Kong. Total returns to shareholders over the past year are 68%. Is New 90 Day High Low • Nov 24
New 90-day high: HK$6.26 The company is up 41% from its price of HK$4.44 on 26 August 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$2.17 per share. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 16% share price gain to HK$5.55, the stock is trading at a trailing P/E ratio of 9.4x, up from the previous P/E ratio of 8.1x. This compares to an average P/E of 12x in the Electronic industry in Hong Kong. Total returns to shareholders over the past year are 49%. Tillkännagivande • Oct 11
VSTECS Holdings Limited Appoints Xia Bin as Non-Executive Director The board of directors of VSTECS Holdings Limited announced that Mr. Xia Bin has been appointed as a non-executive director of the Company with effect from 9 October 2020. Mr. Xia, aged 43, has extensive legal in-house experience in corporations and enterprises. Mr. Xia is currently a deputy general manager and secretary of the board of directors of (Shenzhen Eternal Asia Supply Chain Management Ltd.) ("Shenzhen Eternal Asia"), a joint stock company established in the People's Republic of China with limited liability whose shares are listed on the Small and Medium Enterprise Board of the Shenzhen Stock Exchange (stock code: 002183). Shenzhen Eternal Asia is a substantial shareholder of the Company holding approximately 17.37% of the issued share capital of the Company as at the date of this announcement. Mr. Xia is also a director of (Yunnan Ben Yuan Payment Management Co. Ltd.), a company principally engaged in internet payment and financial services, since January 2019. Mr. Xia has been appointed as a non-executive Director of Trigiant Group Limited, a company incorporated in the Cayman Islands with limited liability whose shares are listed on The Stock Exchange of Hong Kong Limited ("Stock Exchange") (stock code: 1300), with effect from 1 July 2019. Mr. Xia obtained his qualification as a lawyer in the People's Republic of China in 2001. Mr. Xia obtained a Bachelor of Law from Luoyang Institute of Technology (now known as Henan University of Science and Technology) in 1999 and a degree of Master of Law from China University of Political Science and Law in 2008. Tillkännagivande • Aug 07
VSTECS Holdings Limited to Report First Half, 2020 Results on Aug 25, 2020 VSTECS Holdings Limited announced that they will report first half, 2020 results on Aug 25, 2020 
