Announcement • Jul 23
Lee & Man Paper Manufacturing Limited to Report First Half, 2026 Results on Aug 03, 2026 Lee & Man Paper Manufacturing Limited announced that they will report first half, 2026 results on Aug 03, 2026 Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$3.96, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Forestry industry in Asia. Total returns to shareholders of 75% over the past three years. Announcement • Jul 20
Lee & Man Paper Manufacturing Limited Provides Preliminary Unaudited Group Earnings Guidance for the Six Months Ended 30 June 2026 Lee & Man Paper Manufacturing Limited provided preliminary unaudited group earnings guidance for the six months ended 30 June 2026. For the period, the group expects to record the profit to be ranging from approximately HKD 1.33 billion to HKD 1.39 billion, an increase ranging from 64% to 71%, as compared to HKD 811 million for the six months ended 30 June 2025 (the Corresponding Period). The increase in profit is mainly contributed by the increase in profit margin of the Group. Upcoming Dividend • Apr 27
Upcoming dividend of HK$0.093 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (2.2%). Declared Dividend • Mar 12
Final dividend increased to HK$0.093 Dividend of HK$0.093 is 107% higher than last year. Ex-date: 4th May 2026 Payment date: 22nd May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (23% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 11
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: HK$0.45 (up from HK$0.31 in FY 2024). Revenue: HK$26.6b (up 2.5% from FY 2024). Net income: HK$1.94b (up 48% from FY 2024). Profit margin: 7.3% (up from 5.1% in FY 2024). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Mar 10
Lee & Man Paper Manufacturing Limited, Annual General Meeting, Apr 29, 2026 Lee & Man Paper Manufacturing Limited, Annual General Meeting, Apr 29, 2026. Announcement • Feb 26
Lee & Man Paper Manufacturing Limited to Report Fiscal Year 2025 Final Results on Mar 10, 2026 Lee & Man Paper Manufacturing Limited announced that they will report fiscal year 2025 final results on Mar 10, 2026 Reported Earnings • Aug 12
First half 2025 earnings released: EPS: HK$0.19 (vs HK$0.18 in 1H 2024) First half 2025 results: EPS: HK$0.19 (up from HK$0.18 in 1H 2024). Revenue: HK$12.2b (down 2.2% from 1H 2024). Net income: HK$811.1m (up 6.7% from 1H 2024). Profit margin: 6.6% (up from 6.1% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Forestry industry in Asia. 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 2% per year. Declared Dividend • Aug 09
First half dividend of HK$0.066 announced Shareholders will receive a dividend of HK$0.066. Ex-date: 19th August 2025 Payment date: 9th September 2025 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (14% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Aug 08
Price target increased by 13% to HK$2.67 Up from HK$2.37, the current price target is an average from 3 analysts. New target price is 9.0% below last closing price of HK$2.93. Stock is up 24% over the past year. The company is forecast to post earnings per share of HK$0.37 for next year compared to HK$0.31 last year. Announcement • Jul 28
Lee & Man Paper Manufacturing Limited to Report First Half, 2025 Results on Aug 07, 2025 Lee & Man Paper Manufacturing Limited announced that they will report first half, 2025 results on Aug 07, 2025 Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$2.85, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Forestry industry in Asia. Total returns to shareholders of 6.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.92 per share. Buy Or Sell Opportunity • Jun 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.3% to HK$2.29. The fair value is estimated to be HK$1.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 28%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Buy Or Sell Opportunity • Jun 09
Now 20% overvalued Over the last 90 days, the stock has fallen 3.0% to HK$2.26. The fair value is estimated to be HK$1.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 28%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Upcoming Dividend • May 06
Upcoming dividend of HK$0.045 per share Eligible shareholders must have bought the stock before 12 May 2025. Payment date: 03 June 2025. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (2.2%). Declared Dividend • Mar 08
Final dividend of HK$0.045 announced Shareholders will receive a dividend of HK$0.045. Ex-date: 12th May 2025 Payment date: 3rd June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (28% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 35% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 07
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: HK$0.31 (up from HK$0.24 in FY 2023). Revenue: HK$26.0b (up 4.2% from FY 2023). Net income: HK$1.36b (up 29% from FY 2023). Profit margin: 5.2% (up from 4.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 6.0%. Revenue is forecast to grow 1.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 29% 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. Announcement • Mar 06
Lee & Man Paper Manufacturing Limited, Annual General Meeting, May 08, 2025 Lee & Man Paper Manufacturing Limited, Annual General Meeting, May 08, 2025. Announcement • Feb 24
Lee & Man Paper Manufacturing Limited to Report Fiscal Year 2024 Final Results on Mar 06, 2025 Lee & Man Paper Manufacturing Limited announced that they will report fiscal year 2024 final results on Mar 06, 2025 Buy Or Sell Opportunity • Feb 05
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to HK$2.22. The fair value is estimated to be HK$1.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.7% over the last 3 years. Earnings per share has declined by 51%. Revenue is forecast to grow by 6.4% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Price Target Changed • Oct 29
Price target decreased by 11% to HK$2.44 Down from HK$2.74, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of HK$2.52. Stock is up 11% over the past year. The company is forecast to post earnings per share of HK$0.34 for next year compared to HK$0.24 last year. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$2.54, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Forestry industry in Asia. Total loss to shareholders of 52% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.71 per share. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.38, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Forestry industry in Asia. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$1.71 per share. Buy Or Sell Opportunity • Sep 19
Now 21% overvalued Over the last 90 days, the stock has fallen 17% to HK$2.06. The fair value is estimated to be HK$1.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.7% over the last 3 years. Earnings per share has declined by 51%. Revenue is forecast to grow by 7.2% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Recent Insider Transactions • Aug 09
Deputy GM & Executive Director recently bought HK$1.1m worth of stock On the 5th of August, Ho Chung Lee bought around 483k shares on-market at roughly HK$2.27 per share. This transaction increased Ho Chung's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$2.0m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 04
First half 2024 earnings: EPS and revenues exceed analyst expectations First half 2024 results: EPS: HK$0.18 (up from HK$0.071 in 1H 2023). Revenue: HK$12.5b (up 2.4% from 1H 2023). Net income: HK$760.2m (up 147% from 1H 2023). Profit margin: 6.1% (up from 2.5% in 1H 2023). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 77%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 03
First half dividend increased to HK$0.062 Dividend of HK$0.062 is 148% higher than last year. Ex-date: 14th August 2024 Payment date: 5th September 2024 Dividend yield will be 5.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (17% 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 decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Aug 02
Price target decreased by 11% to HK$2.76 Down from HK$3.09, the current price target is an average from 7 analysts. New target price is 19% above last closing price of HK$2.32. Stock is down 8.3% over the past year. The company is forecast to post earnings per share of HK$0.35 for next year compared to HK$0.24 last year. Announcement • Aug 01
Lee & Man Paper Manufacturing Limited declares Interim Dividend Declared for the Six Months Ended 30 June 2024 Lee & Man Paper Manufacturing Limited declared interim dividend of HKD 0.062 per share for Six Months Ended 30 June 2024. Ex-dividend date is 14 August 2024. Record date is 21 August 2024. Payment date is 05 September 2024. Announcement • Jul 13
Lee & Man Paper Manufacturing Limited to Report First Half, 2024 Results on Aug 01, 2024 Lee & Man Paper Manufacturing Limited announced that they will report first half, 2024 results on Aug 01, 2024 Recent Insider Transactions • Jul 05
Deputy GM & Executive Director recently bought HK$219k worth of stock On the 28th of June, Ho Chung Lee bought around 95k shares on-market at roughly HK$2.30 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$687k. Insiders have collectively bought HK$905k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 13
Deputy GM & Executive Director recently bought HK$687k worth of stock On the 6th of June, Ho Chung Lee bought around 300k shares on-market at roughly HK$2.29 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Price Target Changed • May 28
Price target increased by 9.7% to HK$3.09 Up from HK$2.82, the current price target is an average from 7 analysts. New target price is 23% above last closing price of HK$2.52. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of HK$0.33 for next year compared to HK$0.24 last year. Reported Earnings • Apr 12
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: HK$0.24 (down from HK$0.28 in FY 2022). Revenue: HK$24.9b (down 14% from FY 2022). Net income: HK$1.05b (down 11% from FY 2022). Profit margin: 4.2% (up from 4.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 09
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: HK$0.24 (down from HK$0.28 in FY 2022). Revenue: HK$24.9b (down 14% from FY 2022). Net income: HK$1.15b (down 2.8% from FY 2022). Profit margin: 4.6% (up from 4.1% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
Lee & Man Paper Manufacturing Limited, Annual General Meeting, May 09, 2024 Lee & Man Paper Manufacturing Limited, Annual General Meeting, May 09, 2024. Price Target Changed • Mar 08
Price target decreased by 7.7% to HK$2.73 Down from HK$2.96, the current price target is an average from 7 analysts. New target price is 14% above last closing price of HK$2.40. Stock is down 28% over the past year. The company is forecast to post earnings per share of HK$0.24 for next year compared to HK$0.27 last year. Announcement • Mar 08
Lee & Man Paper Manufacturing Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 05 June 2024 Lee & Man Paper Manufacturing Limited proposed Final dividend of HKD 0.061 per share for the year ended 31 December 2023, payable on 05 June 2024. Record date is on 21 May 2024. Ex-dividend date is on 13 May 2024. Date of shareholders' approval: 09 May 2024. Announcement • Feb 27
Lee & Man Paper Manufacturing Limited to Report Fiscal Year 2023 Final Results on Mar 08, 2024 Lee & Man Paper Manufacturing Limited announced that they will report fiscal year 2023 final results on Mar 08, 2024 Reported Earnings • Aug 05
First half 2023 earnings released: EPS: HK$0.071 (vs HK$0.18 in 1H 2022) First half 2023 results: EPS: HK$0.071 (down from HK$0.18 in 1H 2022). Revenue: HK$12.2b (down 20% from 1H 2022). Net income: HK$307.9m (down 61% from 1H 2022). Profit margin: 2.5% (down from 5.2% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 04
Upcoming dividend of HK$0.025 per share at 3.9% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 05 September 2023. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (1.9%). Announcement • Aug 03
Lee & Man Paper Manufacturing Limited Announces Executive Changes Lee & Man Paper Manufacturing Limited announced that with effect from 2 August 2023, Mr. Wong Kai Tung Tony has resigned as an independent non-executive director of the Company and a member of each of the audit committee, remuneration committee and nomination committee of the Board. Mr. Peter A. Davies has resigned as an independent non-executive director of the Company and a member of each of the audit committee, remuneration committee and nomination committee of the Board. Ms. Lo Wing Sze BBS, JP has been appointed as an independent non-executive director of the Company and a member of each of the audit committee, remuneration committee and nomination committee of the Board. Mr. Chan Wai Yan Ronald has been appointed as an independent non-executive director of the Company and a member of each of the audit committee, remuneration committee and nomination committee of the Board. Ms. Lo Wing Sze BBS, JP, aged 51, holds a Bachelor of Economics Degree from the University of Sydney and a Master of Commerce in Finance Degree from the University of New South Wales in Australia. She is a member of the Hong Kong Institute of Certified Public Accountants and a fellow member of CPA Australia. She is the general manager and financial director of Million Tour Limited and the founder and financial director of M1 Hotel Group. Ms. Lo has been appointed as a member of the Chief Executive's Policy Unit Social Development Expert Group from 30 May 2023. Ms. Lo was appointed as a Justice of the Peace in 2017 and awarded the Bronze Bauhinia Star in 2020 by the Hong Kong Special Administrative Region ("HKSAR") Government. She is a member of the Election Committee 2021 (The Fourth Sector) of the HKSAR and was a member of the Election Committee for the Fifth Government of the HKSAR (Tourism Subsector). Ms. Lo is a member of the Social Workers Registration Board, the Advisory Committee on Post-office Employment for Former Chief Executives and Politically Appointed Officials, the Advisory Committee on Admission of Quality Migrants and Professionals and the District Fire Safety Committee (Wan Chai District). She is also an Honorary Court Member of the Lingnan University. Mr. Chan Wai Yan Ronald, aged 43, obtained a Bachelor of Science degree in finance and accounting from the Leonard N. Stern School of Business at New York University in the United States in May 2002. Mr. Chan founded Chartwell Capital Limited, an investment management company, in October 2007 and is currently the chief investment officer. He has been its responsible officer for Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the SFO since November 2008 and February 2008, respectively. From July 2016 to July 2022, he served as a member of the Listing Committee of the Main Board and GEM of The Stock Exchange of Hong Kong Limited. Mr. Chan is an independent non-executive director of Powerlong Commercial Management Holdings Limited (Hong Kong Stock Code: 9909) since December 2019 and an independent non-executive director of Hong Kong Ferry (Holdings) Company Limited since 20 March 2023. From December 2017 to December 2021, Mr. Chan was an independent non-executive director of Wine's Link International Holdings Limited. Price Target Changed • Aug 03
Price target decreased by 7.7% to HK$3.34 Down from HK$3.62, the current price target is an average from 11 analysts. New target price is 31% above last closing price of HK$2.55. Stock is down 11% over the past year. The company is forecast to post earnings per share of HK$0.32 for next year compared to HK$0.27 last year. Announcement • Aug 02
Lee & Man Paper Manufacturing Limited Declares Interim Dividend for the Six Months Ended 30 June 2023, Payable on September 5, 2023 Lee & Man Paper Manufacturing Limited declared interim dividend of HKD 0.025 per share for Six Months Ended 30 June 2023. Ex-dividend date is 11 August 2023. Record date is 18 August 2023. Payment date is 05 September 2023. New Risk • Aug 02
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.6% net profit margin). Announcement • Jul 15
Lee & Man Paper Manufacturing Limited Provides Earnings Guidance for the Six Months Ended 30 June 2023 Lee & Man Paper Manufacturing Limited provided earnings guidance for the six months ended 30 June 2023. Based on the preliminary review of the management accounts of the Group, the profit for the period of the Company for the six months ended 30 June 2023 is expected to decrease by approximately 58% as compared to the six months ended 30 June 2022 (the "Corresponding Period") due to a decrease in profit margin of the Group. Upcoming Dividend • May 04
Upcoming dividend of HK$0.033 per share at 3.1% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (2.3%). Reported Earnings • Apr 07
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: HK$0.28 (down from HK$0.72 in FY 2021). Revenue: HK$29.2b (down 10% from FY 2021). Net income: HK$1.19b (down 62% from FY 2021). Profit margin: 4.1% (down from 9.6% in FY 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: HK$0.28 (vs HK$0.72 in FY 2021) Full year 2022 results: EPS: HK$0.28 (down from HK$0.72 in FY 2021). Revenue: HK$29.2b (down 10% from FY 2021). Net income: HK$1.32b (down 58% from FY 2021). Profit margin: 4.5% (down from 9.6% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Forestry industry in Asia. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 17% per year. Announcement • Feb 18
Lee & Man Paper Manufacturing Limited to Report Fiscal Year 2022 Final Results on Mar 01, 2023 Lee & Man Paper Manufacturing Limited announced that they will report fiscal year 2022 final results on Mar 01, 2023 Announcement • Feb 14
Lee & Man Paper Manufacturing Limited Provides Earnings Guidance for the Year Ended 31 December 2022 Lee & Man Paper Manufacturing Limited provided earnings guidance for the year ended 31 December 2022. For the year, the profit is expected to decrease by approximately 60% as compared to the year ended 31 December 2021 due to a decrease in profit margin of the Group. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$3.90, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Forestry industry in Asia. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$4.37 per share. Buying Opportunity • Feb 07
Now 22% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be HK$4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 6.1%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Buying Opportunity • Jan 17
Now 21% undervalued Over the last 90 days, the stock is up 39%. The fair value is estimated to be HK$4.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has declined by 6.1%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 22% share price gain to HK$3.69, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Forestry industry in Asia. Total loss to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$4.81 per share. Board Change • Nov 16
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 David Chau was the last independent director to join the board, commencing their role in 2008. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
