New Risk • 12h
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 96% Dividend yield: 1.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Dividend is not well covered by cash flows (96% cash payout ratio). Board Change • 12h
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Chairman & President Qiangxiang Wang is the most experienced director on the board, commencing their role in 2021. Independent Director Yao Wang was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Apr 29
CoCreation Grass Co., Ltd, Annual General Meeting, May 20, 2026 CoCreation Grass Co., Ltd, Annual General Meeting, May 20, 2026, at 10:00 China Standard Time. Location: 19F, No. 339, Zhongyang Road, Gulou District, Nanjing, Jiangsu China Duyuru • Mar 30
CoCreation Grass Co., Ltd to Report Q1, 2026 Results on Apr 29, 2026 CoCreation Grass Co., Ltd announced that they will report Q1, 2026 results on Apr 29, 2026 Duyuru • Dec 26
CoCreation Grass Co., Ltd to Report Fiscal Year 2025 Results on Apr 29, 2026 CoCreation Grass Co., Ltd announced that they will report fiscal year 2025 results on Apr 29, 2026 Duyuru • Sep 30
CoCreation Grass Co., Ltd to Report Q3, 2025 Results on Oct 31, 2025 CoCreation Grass Co., Ltd announced that they will report Q3, 2025 results on Oct 31, 2025 Duyuru • Jun 30
CoCreation Grass Co., Ltd to Report First Half, 2025 Results on Aug 29, 2025 CoCreation Grass Co., Ltd announced that they will report first half, 2025 results on Aug 29, 2025 Duyuru • Apr 28
CoCreation Grass Co., Ltd, Annual General Meeting, May 20, 2025 CoCreation Grass Co., Ltd, Annual General Meeting, May 20, 2025, at 10:00 China Standard Time. Location: 20F, No. 56, Huaqiao Road, Nanjing, Jiangsu China Duyuru • Mar 28
CoCreation Grass Co., Ltd to Report Q1, 2025 Results on Apr 30, 2025 CoCreation Grass Co., Ltd announced that they will report Q1, 2025 results on Apr 30, 2025 Duyuru • Dec 27
CoCreation Grass Co., Ltd to Report Fiscal Year 2024 Results on Apr 28, 2025 CoCreation Grass Co., Ltd announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.27 (vs CN¥0.31 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.27 (down from CN¥0.31 in 3Q 2023). Revenue: CN¥749.7m (up 16% from 3Q 2023). Net income: CN¥110.4m (down 12% from 3Q 2023). Profit margin: 15% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Duyuru • Sep 30
CoCreation Grass Co., Ltd to Report Q3, 2024 Results on Oct 31, 2024 CoCreation Grass Co., Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.41 (vs CN¥0.34 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.41 (up from CN¥0.34 in 2Q 2023). Revenue: CN¥821.3m (up 15% from 2Q 2023). Net income: CN¥162.0m (up 22% from 2Q 2023). Profit margin: 20% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Leisure industry in China. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Duyuru • Jun 28
CoCreation Grass Co., Ltd to Report First Half, 2024 Results on Aug 30, 2024 CoCreation Grass Co., Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Duyuru • Apr 30
CoCreation Grass Co., Ltd, Annual General Meeting, May 20, 2024 CoCreation Grass Co., Ltd, Annual General Meeting, May 20, 2024, at 10:30 China Standard Time. Location: 20F, No. 56, Huaqiao Road, Nanjing, Jiangsu China Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: CN¥1.08 (vs CN¥1.12 in FY 2022) Full year 2023 results: EPS: CN¥1.08 (down from CN¥1.12 in FY 2022). Revenue: CN¥2.46b (flat on FY 2022). Net income: CN¥431.2m (down 3.5% from FY 2022). Profit margin: 18% (in line with FY 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Leisure industry in China. Duyuru • Mar 29
CoCreation Grass Co., Ltd to Report Q1, 2024 Results on Apr 29, 2024 CoCreation Grass Co., Ltd announced that they will report Q1, 2024 results on Apr 29, 2024 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥17.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Leisure industry in China. Total loss to shareholders of 25% over the past year. Duyuru • Dec 29
CoCreation Grass Co., Ltd to Report Fiscal Year 2023 Results on Apr 29, 2024 CoCreation Grass Co., Ltd announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.31 (vs CN¥0.36 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.31 (down from CN¥0.36 in 3Q 2022). Revenue: CN¥646.0m (up 1.4% from 3Q 2022). Net income: CN¥125.8m (down 13% from 3Q 2022). Profit margin: 20% (down from 23% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Leisure industry in China. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: CN¥0.34 (vs CN¥0.31 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.34 (up from CN¥0.31 in 2Q 2022). Revenue: CN¥711.4m (up 12% from 2Q 2022). Net income: CN¥132.7m (up 7.5% from 2Q 2022). Profit margin: 19% (in line with 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Leisure industry in China. Duyuru • Jun 28
CoCreation Grass Co., Ltd to Report First Half, 2023 Results on Aug 16, 2023 CoCreation Grass Co., Ltd announced that they will report first half, 2023 results on Aug 16, 2023 Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: CN¥1.12 (vs CN¥0.95 in FY 2021) Full year 2022 results: EPS: CN¥1.12 (up from CN¥0.95 in FY 2021). Revenue: CN¥2.47b (up 7.3% from FY 2021). Net income: CN¥447.0m (up 18% from FY 2021). Profit margin: 18% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Leisure industry in China. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.36 (vs CN¥0.26 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.36 (up from CN¥0.26 in 3Q 2021). Revenue: CN¥636.9m (up 9.1% from 3Q 2021). Net income: CN¥145.2m (up 40% from 3Q 2021). Profit margin: 23% (up from 18% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Leisure industry in China. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: CN¥0.31 (vs CN¥0.29 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.31 (up from CN¥0.29 in 2Q 2021). Revenue: CN¥634.3m (flat on 2Q 2021). Net income: CN¥123.4m (up 5.1% from 2Q 2021). Profit margin: 20% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 31%, compared to a 29% growth forecast for the Leisure industry in China. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CN¥0.21 (vs CN¥0.25 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.21 (down from CN¥0.25 in 1Q 2021). Revenue: CN¥681.2m (up 28% from 1Q 2021). Net income: CN¥85.3m (down 14% from 1Q 2021). Profit margin: 13% (down from 19% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 27%, compared to a 30% growth forecast for the industry in China. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥35.93, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 24x in the Leisure industry in China. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS CN¥0.26 (vs CN¥0.37 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥583.6m (up 8.2% from 3Q 2020). Net income: CN¥104.0m (down 22% from 3Q 2020). Profit margin: 18% (down from 25% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥40.83, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 28x in the Leisure industry in China.