Duyuru • Apr 29
Linkage Software Co., LTD, Annual General Meeting, May 22, 2026 Linkage Software Co., LTD, Annual General Meeting, May 22, 2026, at 15:00 China Standard Time. Location: 5F, Building 5, Lane 388, Daduhe Road, Putuo District, Shanghai China Duyuru • Mar 30
Linkage Software Co., LTD to Report Q1, 2026 Results on Apr 29, 2026 Linkage Software Co., LTD announced that they will report Q1, 2026 results on Apr 29, 2026 Duyuru • Dec 26
Linkage Software Co., LTD to Report Fiscal Year 2025 Results on Apr 02, 2026 Linkage Software Co., LTD announced that they will report fiscal year 2025 results on Apr 02, 2026 Duyuru • Sep 30
Linkage Software Co., LTD to Report Q3, 2025 Results on Oct 30, 2025 Linkage Software Co., LTD announced that they will report Q3, 2025 results on Oct 30, 2025 Duyuru • Jun 30
Linkage Software Co., LTD to Report First Half, 2025 Results on Aug 29, 2025 Linkage Software Co., LTD announced that they will report first half, 2025 results on Aug 29, 2025 Duyuru • Apr 18
Linkage Software Co., LTD, Annual General Meeting, May 19, 2025 Linkage Software Co., LTD, Annual General Meeting, May 19, 2025, at 15:00 China Standard Time. Location: 5F, Building 5, Lane 388, Daduhe Road, Putuo District, Shanghai China Duyuru • Mar 28
Linkage Software Co., LTD to Report Q1, 2025 Results on Apr 30, 2025 Linkage Software Co., LTD announced that they will report Q1, 2025 results on Apr 30, 2025 Duyuru • Dec 27
Linkage Software Co., LTD to Report Fiscal Year 2024 Results on Apr 18, 2025 Linkage Software Co., LTD announced that they will report fiscal year 2024 results on Apr 18, 2025 Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥15.45, the stock trades at a trailing P/E ratio of 36.3x. Average trailing P/E is 97x in the Software industry in China. Total returns to shareholders of 31% over the past year. Buy Or Sell Opportunity • Oct 30
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 90% to CN¥12.83. The fair value is estimated to be CN¥10.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 19%. New Risk • Oct 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 12% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Dividend is not well covered by cash flows (203% cash payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.23 (vs CN¥0.011 loss in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.23 (up from CN¥0.011 loss in 3Q 2023). Revenue: CN¥276.1m (up 77% from 3Q 2023). Net income: CN¥113.7m (up CN¥118.0m from 3Q 2023). Profit margin: 41% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (152% payout ratio). Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Duyuru • Sep 30
Linkage Software Co., LTD to Report Q3, 2024 Results on Oct 30, 2024 Linkage Software Co., LTD announced that they will report Q3, 2024 results on Oct 30, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥8.68, the stock trades at a trailing P/E ratio of 70.7x. Average trailing P/E is 63x in the Software industry in China. Total loss to shareholders of 30% over the past year. New Risk • Sep 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (152% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Duyuru • Sep 06
Linkage Software Co., LTD (SHSE:688588) announces an Equity Buyback for CNY 50 million worth of its shares. Linkage Software Co., LTD (SHSE:688588) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 9.6 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives. The program will be funded from company's own funds. The program will be valid for 12 months. Duyuru • Jun 28
Linkage Software Co., LTD to Report First Half, 2024 Results on Aug 30, 2024 Linkage Software Co., LTD announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • May 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (215% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.6% net profit margin). Duyuru • Apr 29
Linkage Software Co., LTD, Annual General Meeting, May 17, 2024 Linkage Software Co., LTD, Annual General Meeting, May 17, 2024, at 10:00 China Standard Time. Location: 5F, Building 5, Lane 388, Daduhe Road, Putuo District, Shanghai China Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.35 in FY 2022) Full year 2023 results: EPS: CN¥0.22 (down from CN¥0.35 in FY 2022). Revenue: CN¥696.4m (up 6.4% from FY 2022). Net income: CN¥86.5m (down 39% from FY 2022). Profit margin: 12% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. Duyuru • Mar 29
Linkage Software Co., LTD to Report Q1, 2024 Results on Apr 30, 2024 Linkage Software Co., LTD announced that they will report Q1, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥9.23, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 77x in the Software industry in China. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: CN¥0.22 (vs CN¥0.35 in FY 2022) Full year 2023 results: EPS: CN¥0.22 (down from CN¥0.35 in FY 2022). Revenue: CN¥696.4m (up 6.4% from FY 2022). Net income: CN¥86.1m (down 39% from FY 2022). Profit margin: 12% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. New Risk • Feb 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.7% 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 (7.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥8.11, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 62x in the Software industry in China. Reported Earnings • Nov 01
Third quarter 2023 earnings released: CN¥0.011 loss per share (vs CN¥0.056 profit in 3Q 2022) Third quarter 2023 results: CN¥0.011 loss per share (down from CN¥0.056 profit in 3Q 2022). Revenue: CN¥156.0m (up 6.0% from 3Q 2022). Net loss: CN¥4.31m (down 120% from profit in 3Q 2022). Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.022 (vs CN¥0.052 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.022 (down from CN¥0.052 in 2Q 2022). Revenue: CN¥168.2m (up 3.1% from 2Q 2022). Net income: CN¥8.99m (down 59% from 2Q 2022). Profit margin: 5.3% (down from 13% in 2Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Software industry in China. Duyuru • Jun 28
Linkage Software Co., LTD to Report First Half, 2023 Results on Aug 30, 2023 Linkage Software Co., LTD announced that they will report first half, 2023 results on Aug 30, 2023 Board Change • Jun 15
Less than half of directors are independent 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. 7 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Shuifa Gui 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. Insufficient board refreshment.