CHICMAX

The stock declined approximately 4.23% to close at HK$26.7, primarily due to recent management transitions that have sparked concerns about corporate governance, specifically the resignation of Executive Director Zhou Wei and the nomination of Vice President Wang Tao as his successor. The sell-off was evident as the price fell from the intraday high of HK$28.38 in the morning session, with sustained pressure throughout the afternoon. Despite the continued robust financial performance in the latest quarters—EPS grew 59.08% and 50.09% year-over-year in Q4 and Q3 respectively, with operating revenue up 61.07% and 51.97%—investors appear to prioritize concerns about organizational stability over earnings momentum. From a valuation standpoint, the stock trades at an extremely low PE multiple of 8.71 and PB of 3.47, yet the share price has declined 61.53% year-to-date and plunged 74.52% from the 52-week high of HK$104.8, currently hovering just 5.45% above the 52-week low of HK$25.32, underscoring risk-averse sentiment in the market.

Shares closed flat at HKD 27.88 versus HKD 27.96 prior close, after a morning rally to HKD 28.66 (+3%) was entirely unwound by afternoon profit-taking. The weakness masks strong fundamentals: Q4 2025 delivered revenue growth of 61% YoY, net profit growth of 59% YoY and EPS growth of 59%, while Q3 showed revenue growth of 52% YoY and net profit growth of 50%. From a valuation perspective, however, shares remain deeply challenged—down 59.83% year-to-date and still 73.4% below the 52-week high of HKD 104.8, having rebounded just 10.11% from the 52-week low of HKD 25.32. The PE multiple of 9.1x appears cheap, but investors remain defensive on this volatile name, trimming positions on any bounces. Recent market rotations in Hong Kong have favored yield and restructuring plays over consumer-tech, adding to headwinds. The latest quarterly ROE of 44%+ does suggest underlying competitive strength persists despite the sharp drawdown.

The stock surged to 29.48 HKD intraday but closed down roughly 0.99% at 27.96 HKD following afternoon profit-taking, on turnover of 40.3 million HKD. The modest daily decline masks a deeper structural weakness: the share price has plunged 73% from its September 2025 peak of 104.8 HKD and now trades near the 52-week low of 25.32 HKD set on July 13th. This historic drawdown starkly contrasts with strong recent earnings—Q4 EPS surged 59.08% year-over-year, Q3 EPS grew 50.09%, both quarters posted revenue growth exceeding 50% with Q4 up 61.07%, and ROE remained above 41%. The disconnect between depressed valuations and robust fundamentals largely stems from market concerns triggered by the June resignation of executive director Zhou Wei; the subsequent nomination of Vice President Wang Tao as executive director has only partially restored confidence. At a PE of just 9.12, valuations sit in a deep trough, and analyst Phillip Securities maintained a buy rating, yet the stock trades well below the 60-day moving average of 35.13 HKD, signaling the market requires further evidence of management stability before re-engaging at higher levels.

Shanghai Chicmax Cosmetics (2145) rose modestly 1.79% to close at HK$28.50 today, extending a rebound of over 12% from its 52-week low of HK$25.32 set on July 13, as short-term technical recovery attempts to take hold. The upside is primarily driven by strong earnings and extreme valuation cheapness: Q4 2025 EPS of HK$0.8079 surged 59.08% year-over-year, revenue reached HK$28.19 billion (+61.07% YoY), and net profit HK$3.22 billion (+59.11% YoY), with net margin steady at 11.41% and ROE at 41.79% demonstrating robust profitability. At a PE ratio of just 9.3x, the stock sits at extreme discount levels. Yet despite such earnings strength, the stock has plummeted 58.93% year-to-date and 72.81% from its 52-week high of HK$104.8 recorded in September, reflecting deep market skepticism about forward growth prospects. The price finds temporary support above the 20-day moving average (HK$27.18), though the 60-day average (HK$35.48) sits well above current levels, indicating a persistent downtrend. Thin turnover of 0.76% signals limited market participation and liquidity constraints. Recent management transitions include former executive director Zhou Wei's departure and vice president Wang Tao's nomination as executive director candidate, alongside ongoing restricted share unit grants to employees, but market response to these personnel moves has remained subdued.

Shanghai Chicmax closed at HK$28.00 today, down 1.1% from the prior close of HK$28.32, after touching an intraday high of HK$28.40 in morning trading before retreating in the afternoon, reflecting investor caution. Despite robust Q4 2025 results showing revenue growth of 61.1% year-over-year to HK$2.82 billion and net profit growth of 59.1% year-over-year to HK$321.6 million with a stable net margin of 11.4%, the stock has crashed 73.28% from its 52-week high of HK$104.80 set in September 2025, marking a year-to-date loss of 59.65%. Trading at HK$28.00, the stock sits merely 10.58% above its July mid-month low of HK$25.32, suggesting an early-stage rebound effort. The valuation metric P/E of 9.14x underscores deep market skepticism, though the company delivered a robust ROE of 41.79%. Subdued trading activity—turnover of 0.75%—indicates weak investor engagement. Recent management actions, including the sixth round of equity incentive grants and adjustments to board composition, signal internal conviction, yet concerns about sector headwinds and the sustainability of growth in a competitive market remain unresolved.