New Risk • Aug 22
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 176% Dividend yield: 1.7% 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: Minor Risks Dividend is not well covered by cash flows (176% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin). Reported Earnings • Aug 22
Second quarter 2026 earnings released: EPS: CN¥0.001 (vs CN¥0.21 in 2Q 2025) Second quarter 2026 results: EPS: CN¥0.001 (down from CN¥0.21 in 2Q 2025). Revenue: CN¥3.11b (up 1.5% from 2Q 2025). Net income: CN¥2.32m (down 99% from 2Q 2025). Profit margin: 0.1% (down from 13% in 2Q 2025). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Declared Dividend • Jul 08
Dividend increased to CN¥0.26 Dividend of CN¥0.26 is 18% higher than last year. Ex-date: 10th July 2026 Payment date: 10th July 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (46% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 17% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Jun 11
Price target decreased by 15% to CN¥22.32 Down from CN¥26.16, the current price target is an average from 8 analysts. New target price is 42% above last closing price of CN¥15.68. Stock is down 31% over the past year. The company is forecast to post earnings per share of CN¥0.70 for next year compared to CN¥0.66 last year. Duyuru • Jun 09
Mango Excellent Media Co., Ltd. Approves Cash Dividend for 2025 Mango Excellent Media Co., Ltd. at its Annual General Meeting of 2025 on 05 June 2026 approved the detailed profit distribution plan is as follows: Cash dividend per ten shares (tax included): CNY 2.60000000 for 2025. Major Estimate Revision • May 01
Consensus EPS estimates fall by 30%, revenue upgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from CN¥14.3b to CN¥14.4b. EPS estimate fell from CN¥0.964 to CN¥0.675 per share. Net income forecast to grow 35% next year vs 74% growth forecast for Entertainment industry in China. Consensus price target down from CN¥31.82 to CN¥27.09. Share price fell 5.7% to CN¥19.44 over the past week. Price Target Changed • Apr 28
Price target decreased by 13% to CN¥27.69 Down from CN¥31.82, the current price target is an average from 9 analysts. New target price is 42% above last closing price of CN¥19.54. Stock is down 13% over the past year. The company is forecast to post earnings per share of CN¥0.65 for next year compared to CN¥0.66 last year. Duyuru • Apr 27
Mango Excellent Media Co., Ltd., Annual General Meeting, Jun 05, 2026 Mango Excellent Media Co., Ltd., Annual General Meeting, Jun 05, 2026, at 14:30 China Standard Time. New Risk • Apr 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 76% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥29.65, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 28x in the Entertainment industry in China. Total loss to shareholders of 5.3% over the past three years. Reported Earnings • Oct 25
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: CN¥0.13 (down from CN¥0.20 in 3Q 2024). Revenue: CN¥3.10b (down 6.6% from 3Q 2024). Net income: CN¥252.5m (down 34% from 3Q 2024). Profit margin: 8.1% (down from 11% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 39%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥30.28, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 28x in the Entertainment industry in China. Total returns to shareholders of 24% over the past three years. New Risk • Sep 16
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 6.9% 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 Dividend is not well covered by cash flows (98% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (8.1% net profit margin). Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥30.03, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 29x in the Entertainment industry in China. Total returns to shareholders of 13% over the past three years. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥14.5b to CN¥13.5b. EPS estimate also fell from CN¥0.948 per share to CN¥0.778 per share. Net income forecast to grow 59% next year vs 68% growth forecast for Entertainment industry in China. Consensus price target up from CN¥26.53 to CN¥27.96. Share price rose 2.2% to CN¥26.08 over the past week. Reported Earnings • Aug 24
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: CN¥0.21 (down from CN¥0.32 in 2Q 2024). Revenue: CN¥3.06b (down 16% from 2Q 2024). Net income: CN¥384.6m (down 35% from 2Q 2024). Profit margin: 13% (down from 16% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Entertainment 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 fallen by 3% per year. Buy Or Sell Opportunity • Aug 18
Now 40% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to CN¥26.45. The fair value is estimated to be CN¥18.95, 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 grown by 8.4%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Buy Or Sell Opportunity • Jul 24
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to CN¥22.65. The fair value is estimated to be CN¥18.81, 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 grown by 8.4%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Declared Dividend • Jul 11
Dividend increased to CN¥0.22 Dividend of CN¥0.22 is 22% higher than last year. Ex-date: 16th July 2025 Payment date: 16th July 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 74% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • May 30
Price target decreased by 8.2% to CN¥27.14 Down from CN¥29.56, the current price target is an average from 8 analysts. New target price is 21% above last closing price of CN¥22.36. Stock is down 3.3% over the past year. The company is forecast to post earnings per share of CN¥1.03 for next year compared to CN¥0.73 last year. Major Estimate Revision • May 02
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥16.4b to CN¥14.5b. EPS estimate fell from CN¥1.15 to CN¥0.95 per share. Net income forecast to grow 48% next year vs 47% growth forecast for Entertainment industry in China. Consensus price target down from CN¥31.14 to CN¥29.56. Share price fell 11% to CN¥22.73 over the past week. Duyuru • Apr 29
Mango Excellent Media Co., Ltd., Annual General Meeting, Jun 06, 2025 Mango Excellent Media Co., Ltd., Annual General Meeting, Jun 06, 2025, at 14:30 China Standard Time. Reported Earnings • Apr 26
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: CN¥0.20 (down from CN¥0.25 in 1Q 2024). Revenue: CN¥2.90b (down 13% from 1Q 2024). Net income: CN¥378.8m (down 20% from 1Q 2024). Profit margin: 13% (down from 14% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 35%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment 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 11% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 28
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at CN¥27.79. The fair value is estimated to be CN¥22.91, 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 grown by 20%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to decline by 28% in the next 2 years. Buy Or Sell Opportunity • Mar 06
Now 22% overvalued Over the last 90 days, the stock has fallen 4.8% to CN¥27.88. The fair value is estimated to be CN¥22.93, 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 grown by 20%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to decline by 28% in the next 2 years. Major Estimate Revision • Jan 20
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from CN¥0.978 to CN¥0.865 per share. Revenue forecast steady at CN¥15.0b. Net income forecast to shrink 39% next year vs 58% growth forecast for Entertainment industry in China . Consensus price target of CN¥29.98 unchanged from last update. Share price rose 5.7% to CN¥26.62 over the past week. Buy Or Sell Opportunity • Dec 24
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 42% to CN¥28.50. The fair value is estimated to be CN¥23.75, 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 grown by 20%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to decline by 29% in the next 2 years. Buy Or Sell Opportunity • Dec 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 55% to CN¥29.03. The fair value is estimated to be CN¥24.04, 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 grown by 20%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to decline by 30% in the next 2 years. Price Target Changed • Oct 29
Price target increased by 7.1% to CN¥27.04 Up from CN¥25.26, the current price target is an average from 11 analysts. New target price is 7.0% above last closing price of CN¥25.28. Stock is down 0.04% over the past year. The company is forecast to post earnings per share of CN¥0.94 for next year compared to CN¥1.90 last year. Reported Earnings • Oct 26
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CN¥0.20 (down from CN¥0.27 in 3Q 2023). Revenue: CN¥3.32b (down 5.4% from 3Q 2023). Net income: CN¥379.5m (down 26% from 3Q 2023). Profit margin: 11% (down from 15% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CN¥23.44, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 23x in the Entertainment industry in China. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥22.95, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Entertainment industry in China. Total loss to shareholders of 46% over the past three years. Price Target Changed • Aug 27
Price target decreased by 7.4% to CN¥25.92 Down from CN¥28.01, the current price target is an average from 11 analysts. New target price is 42% above last closing price of CN¥18.31. Stock is down 38% over the past year. The company is forecast to post earnings per share of CN¥1.02 for next year compared to CN¥1.90 last year. Reported Earnings • Aug 22
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: CN¥0.32 (down from CN¥0.38 in 2Q 2023). Revenue: CN¥3.64b (flat on 2Q 2023). Net income: CN¥592.5m (down 16% from 2Q 2023). Profit margin: 16% (down from 19% in 2Q 2023). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 5.1%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 05
Dividend increased to CN¥0.18 Dividend of CN¥0.18 is 38% higher than last year. Ex-date: 10th July 2024 Payment date: 10th July 2024 Dividend yield will be 0.9%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 16% per year over the past 4 years and payments have been stable during that time. EPS is expected to decline by 29% over the next 3 years. However, it would need to fall by 89% to increase the payout ratio to a potentially unsustainable range. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥26.22, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 23x in the Entertainment industry in China. Total loss to shareholders of 62% over the past three years. Price Target Changed • Apr 30
Price target decreased by 9.1% to CN¥28.91 Down from CN¥31.79, the current price target is an average from 11 analysts. New target price is 23% above last closing price of CN¥23.44. Stock is down 35% over the past year. The company is forecast to post earnings per share of CN¥1.07 for next year compared to CN¥1.90 last year. Reported Earnings • Apr 22
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CN¥0.25 (down from CN¥0.29 in 1Q 2023). Revenue: CN¥3.32b (up 8.8% from 1Q 2023). Net income: CN¥472.3m (down 13% from 1Q 2023). Profit margin: 14% (down from 18% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in China. 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 30% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 29
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥1.90 (up from CN¥0.98 in FY 2022). Revenue: CN¥14.6b (up 6.8% from FY 2022). Net income: CN¥3.56b (up 95% from FY 2022). Profit margin: 24% (up from 13% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 2.5%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥23.52, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Entertainment industry in China. Total loss to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥15.89 per share. Major Estimate Revision • Jan 29
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from CN¥1.18 to CN¥1.31. Revenue forecast steady at CN¥14.3b. Net income forecast to grow 29% next year vs 60% growth forecast for Entertainment industry in China. Consensus price target down from CN¥34.06 to CN¥32.59. Share price rose 6.0% to CN¥22.40 over the past week. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥29.76, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Entertainment industry in China. Total loss to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥17.80 per share. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥29.25, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Entertainment industry in China. Total loss to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥21.64 per share. Price Target Changed • Nov 03
Price target decreased by 8.4% to CN¥34.58 Down from CN¥37.75, the current price target is an average from 11 analysts. New target price is 34% above last closing price of CN¥25.74. Stock is up 6.0% over the past year. The company is forecast to post earnings per share of CN¥1.18 for next year compared to CN¥0.98 last year. Reported Earnings • Oct 25
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: CN¥0.27 (up from CN¥0.26 in 3Q 2022). Revenue: CN¥3.51b (flat on 3Q 2022). Net income: CN¥514.9m (up 5.6% from 3Q 2022). Profit margin: 15% (in line with 3Q 2022). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 18
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: CN¥0.38 (up from CN¥0.37 in 2Q 2022). Revenue: CN¥3.63b (up 1.2% from 2Q 2022). Net income: CN¥705.8m (up 3.3% from 2Q 2022). Profit margin: 19% (in line with 2Q 2022). Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 4.7%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Duyuru • Jul 06
Mango Excellent Media Co., Ltd. Announces Final Cash Dividend on A Shares for the Year 2022, Payable on July 11, 2023 Mango Excellent Media Co., Ltd. announced final cash dividend of CNY 1.30 per 10 shares on A shares for the year 2022. Record date is July 10, 2023, Ex-Date is July 11, 2023 and Payment Date is July 11, 2023. New Risk • Jun 25
New major 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 9.0% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to CN¥38.06, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 27x in the Entertainment industry in China. Total loss to shareholders of 36% over the past three years. Duyuru • May 13
Mango Excellent Media Co., Ltd., Annual General Meeting, May 31, 2023 Mango Excellent Media Co., Ltd., Annual General Meeting, May 31, 2023, at 14:30 China Standard Time. Agenda: To consider the 2022 work report of the board of directors; to consider the 2022 work report of the supervisory committee; to consider the 2022 profit distribution plan; to consider the 2022 annual report and its summary; to consider the shareholder return plan for the next three years from 2023 to 2025; to consider the 2023 estimated continuing connected transactions; to consider the application for credit line to banks; to consider the reappointment of audit firm; and to consider the connected transaction regarding wholly-owned subsidiaries' financial aid to its controlled subsidiaries. Board Change • Apr 30
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Hong Ming Zhong is the most experienced director on the board, commencing their role in 2017. Non-Independent Director Xin Liu was the last independent director to join the board, commencing their role in 2019. 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. Board Change • Apr 28
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Non-Independent Director Weixiong Luo was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 23
First quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2023 results: EPS: CN¥0.29 (up from CN¥0.27 in 1Q 2022). Revenue: CN¥3.06b (down 2.2% from 1Q 2022). Net income: CN¥545.0m (up 7.4% from 1Q 2022). Profit margin: 18% (up from 16% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates by 1.2%. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥34.10, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 25x in the Entertainment industry in China. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥22.57 per share. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥31.21, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 15x in the Entertainment industry in China. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥23.32 per share. Price Target Changed • Nov 16
Price target decreased to CN¥32.21 Down from CN¥36.33, the current price target is an average from 12 analysts. New target price is 23% above last closing price of CN¥26.13. Stock is down 45% over the past year. The company is forecast to post earnings per share of CN¥1.12 for next year compared to CN¥1.16 last year. Major Estimate Revision • Oct 31
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥15.0b to CN¥14.0b. EPS estimate also fell from CN¥1.25 per share to CN¥1.11 per share. Net income forecast to grow 38% next year vs 49% growth forecast for Entertainment industry in China. Consensus price target down from CN¥36.33 to CN¥33.06. Share price fell 5.4% to CN¥21.93 over the past week. Price Target Changed • Oct 29
Price target decreased to CN¥33.06 Down from CN¥36.33, the current price target is an average from 12 analysts. New target price is 55% above last closing price of CN¥21.30. Stock is down 46% over the past year. The company is forecast to post earnings per share of CN¥1.20 for next year compared to CN¥1.16 last year. Reported Earnings • Oct 25
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CN¥0.26 (down from CN¥0.29 in 3Q 2021). Revenue: CN¥3.52b (down 6.7% from 3Q 2021). Net income: CN¥487.5m (down 7.8% from 3Q 2021). Profit margin: 14% (in line with 3Q 2021). Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 25
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be CN¥28.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 33% in 2 years. Earnings is forecast to grow by 59% in the next 2 years. Buying Opportunity • Sep 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be CN¥31.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 34% in 2 years. Earnings is forecast to grow by 60% in the next 2 years. Major Estimate Revision • Aug 24
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥17.2b to CN¥15.2b. EPS estimate fell from CN¥1.32 to CN¥1.25 per share. Net income forecast to grow 37% next year vs 36% growth forecast for Entertainment industry in China. Consensus price target down from CN¥40.86 to CN¥37.38. Share price fell 8.8% to CN¥27.90 over the past week. Price Target Changed • Aug 19
Price target decreased to CN¥37.78 Down from CN¥40.86, the current price target is an average from 15 analysts. New target price is 28% above last closing price of CN¥29.54. Stock is down 45% over the past year. The company is forecast to post earnings per share of CN¥1.27 for next year compared to CN¥1.16 last year. Reported Earnings • Aug 18
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: CN¥0.37. Revenue: CN¥3.59b (down 6.6% from 2Q 2021). Net income: CN¥683.3m (flat on 2Q 2021). Profit margin: 19% (up from 18% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 32%, compared to a 22% growth forecast for the Entertainment industry in China. Duyuru • Jun 30
Mango Excellent Media Co., Ltd. Announces Implementation of Final Dividend for Year 2021, Payable on July 6, 2022 Mango Excellent Media Co., Ltd. announced 2021 final profit distribution plan to be implemented (A shares) as cash dividend (tax included) of CNY 1.30000000 per ten shares. The record date is 05 July 2022, ex-date is 06 July 2022 and payment date is 06 July 2022. Price Target Changed • May 30
Price target decreased to CN¥40.87 Down from CN¥46.01, the current price target is an average from 16 analysts. New target price is 12% above last closing price of CN¥36.34. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥1.31 for next year compared to CN¥1.16 last year. Duyuru • May 21
Mango Approves Cash Dividend for the Year of 2021 Mango held its Annual General Meeting of 2021 on 19 May 2022, during which it approved cash dividend of CNY 1.30000000 per ten shares (tax included) for the year 2021. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥35.80, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the Entertainment industry in China. Total returns to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥29.19 per share. Reported Earnings • Apr 27
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: CN¥0.27 (down from CN¥0.43 in 1Q 2021). Revenue: CN¥3.12b (down 22% from 1Q 2021). Net income: CN¥507.5m (down 34% from 1Q 2021). Profit margin: 16% (down from 19% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 25%. Over the next year, revenue is forecast to grow 25%, compared to a 26% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 26
Mango Excellent Media Co., Ltd. Proposes Final Cash Dividend for the Year 2021 Mango Excellent Media Co., Ltd. proposed final cash dividend/10 shares (tax included) of CNY 1.30000000 for the year 2021. Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥20.1b to CN¥18.3b. EPS estimate also fell from CN¥1.53 per share to CN¥1.36 per share. Net income forecast to grow 5.5% next year vs 28% growth forecast for Entertainment industry in China. Consensus price target down from CN¥60.96 to CN¥53.11. Share price fell 6.3% to CN¥29.44 over the past week. Price Target Changed • Mar 05
Price target decreased to CN¥56.24 Down from CN¥62.48, the current price target is an average from 16 analysts. New target price is 66% above last closing price of CN¥33.82. Stock is down 49% over the past year. The company is forecast to post earnings per share of CN¥1.25 for next year compared to CN¥1.11 last year. Buying Opportunity • Jan 13
Now 23% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be CN¥59.53, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% per annum over the last 3 years. Earnings per share has grown by 33% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥58.61, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 22x in the Entertainment industry in China. Total returns to shareholders of 165% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥58.24 per share. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥53.51, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 21x in the Entertainment industry in China. Total returns to shareholders of 142% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥58.43 per share. Price Target Changed • Nov 02
Price target decreased to CN¥68.87 Down from CN¥75.74, the current price target is an average from 15 analysts. New target price is 73% above last closing price of CN¥39.76. Stock is down 50% over the past year. The company is forecast to post earnings per share of CN¥1.30 for next year compared to CN¥1.11 last year. Price Target Changed • Oct 29
Price target decreased to CN¥68.03 Down from CN¥75.74, the current price target is an average from 15 analysts. New target price is 73% above last closing price of CN¥39.29. Stock is down 47% over the past year. The company is forecast to post earnings per share of CN¥1.34 for next year compared to CN¥1.11 last year.