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Shanghai Waigaoqiao Free Trade Zone Group

SHSE:900912
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
900912
SHSE
$3B
Market Cap
  1. Home
  2. CN
  3. Capital Goods
Company description

Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd., through its subsidiaries, engages in the trade and logistic, and real estate development business in China. The last earnings update was 91 days ago. More info.


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900912 Share Price and Events
7 Day Returns
-4%
SHSE:900912
-4.1%
CN Trade Distributors
-4%
CN Market
1 Year Returns
-5.3%
SHSE:900912
16.2%
CN Trade Distributors
26%
CN Market
900912 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shanghai Waigaoqiao Free Trade Zone Group (900912) -4% -3% -15.4% -5.3% -29.4% -42.2%
CN Trade Distributors -4.1% 3.1% 2.8% 16.2% -34.6% -30.7%
CN Market -4% 2% 4.7% 26% -7.5% 9%
1 Year Return vs Industry and Market
  • 900912 underperformed the Trade Distributors industry which returned 16.2% over the past year.
  • 900912 underperformed the Market in China which returned 26% over the past year.
Price Volatility
900912
Industry
5yr Volatility vs Market

Value

 Is Shanghai Waigaoqiao Free Trade Zone Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shanghai Waigaoqiao Free Trade Zone Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shanghai Waigaoqiao Free Trade Zone Group.

SHSE:900912 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SHSE:900912
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.936 (1 + (1- 25%) (67.4%))
1.274
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.274 * 6.33%)
11.27%

Discounted Cash Flow Calculation for SHSE:900912 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Shanghai Waigaoqiao Free Trade Zone Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SHSE:900912 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 11.27%)
2020 836.89 Est @ -24.34% 752.14
2021 702.31 Est @ -16.08% 567.28
2022 630.00 Est @ -10.3% 457.34
2023 590.64 Est @ -6.25% 385.35
2024 570.48 Est @ -3.41% 334.50
2025 562.33 Est @ -1.43% 296.33
2026 562.10 Est @ -0.04% 266.22
2027 567.34 Est @ 0.93% 241.49
2028 576.48 Est @ 1.61% 220.53
2029 588.52 Est @ 2.09% 202.34
Present value of next 10 years cash flows CN¥3,723.00
SHSE:900912 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥588.52 × (1 + 3.2%) ÷ (11.27% – 3.2%)
CN¥7,528.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥7,528.53 ÷ (1 + 11.27%)10
CN¥2,588.40
SHSE:900912 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥3,723.00 + CN¥2,588.40
CN¥6,311.40
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥6,311.40 / 1,135.35
CN¥5.56
SHSE:900912 Discount to Share Price
Calculation Result
Exchange Rate CNY/USD
(Reporting currency to currency of SHSE:900912)
0.144
Value per Share
(USD)
= Value per Share in CNY x Exchange Rate (CNY/USD)
= CN¥5.56 x 0.144
$0.8
Value per share (USD) From above. $0.80
Current discount Discount to share price of $1.17
= -1 x ($1.17 - $0.80) / $0.80
-45.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Shanghai Waigaoqiao Free Trade Zone Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Shanghai Waigaoqiao Free Trade Zone Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shanghai Waigaoqiao Free Trade Zone Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SHSE:900912 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥0.80
SHSE:900912 Share Price ** SHSE (2020-01-23) in USD $1.17
SHSE:900912 Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.937 CN¥8.11
China Trade Distributors Industry PE Ratio Median Figure of 33 Publicly-Listed Trade Distributors Companies 29.54x
China Market PE Ratio Median Figure of 3,033 Publicly-Listed Companies 32.38x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Shanghai Waigaoqiao Free Trade Zone Group.

SHSE:900912 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:900912 Share Price ÷ EPS (both in CNY)

= 8.11 ÷ 0.80

10.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shanghai Waigaoqiao Free Trade Zone Group is good value based on earnings compared to the CN Trade Distributors industry average.
  • Shanghai Waigaoqiao Free Trade Zone Group is good value based on earnings compared to the China market.
Price based on expected Growth
Does Shanghai Waigaoqiao Free Trade Zone Group's expected growth come at a high price?
Raw Data
SHSE:900912 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
China Trade Distributors Industry PEG Ratio Median Figure of 9 Publicly-Listed Trade Distributors Companies 1.23x
China Market PEG Ratio Median Figure of 1,281 Publicly-Listed Companies 1.3x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Shanghai Waigaoqiao Free Trade Zone Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Shanghai Waigaoqiao Free Trade Zone Group's assets?
Raw Data
SHSE:900912 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥9.41
SHSE:900912 Share Price * SHSE (2020-01-23) in USD $1.17
SHSE:900912 Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.937 CN¥8.11
China Trade Distributors Industry PB Ratio Median Figure of 41 Publicly-Listed Trade Distributors Companies 1.66x
China Market PB Ratio Median Figure of 3,638 Publicly-Listed Companies 2.37x
SHSE:900912 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:900912 Share Price ÷ Book Value per Share (both in CNY)

= 8.11 ÷ 9.41

0.86x

* Primary Listing of Shanghai Waigaoqiao Free Trade Zone Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shanghai Waigaoqiao Free Trade Zone Group is good value based on assets compared to the CN Trade Distributors industry average.
X
Value checks
We assess Shanghai Waigaoqiao Free Trade Zone Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Trade Distributors industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Trade Distributors industry average (and greater than 0)? (1 check)
  5. Shanghai Waigaoqiao Free Trade Zone Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Shanghai Waigaoqiao Free Trade Zone Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Shanghai Waigaoqiao Free Trade Zone Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.1%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shanghai Waigaoqiao Free Trade Zone Group expected to grow at an attractive rate?
  • Unable to compare Shanghai Waigaoqiao Free Trade Zone Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Shanghai Waigaoqiao Free Trade Zone Group's earnings growth to the China market average as no estimate data is available.
  • Unable to compare Shanghai Waigaoqiao Free Trade Zone Group's revenue growth to the China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SHSE:900912 Future Growth Rates Data Sources
Data Point Source Value (per year)
China Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 24.1%
China Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 15.2%
China Market Earnings Growth Rate Market Cap Weighted Average 21.5%
China Market Revenue Growth Rate Market Cap Weighted Average 15.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SHSE:900912 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SHSE:900912 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SHSE:900912 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 8,846 1,413 907
2019-06-30 8,758 1,680 988
2019-03-31 8,793 1,012 1,047
2018-12-31 7,776 716 830
2018-09-30 9,127 1,963 1,071
2018-06-30 9,743 1,086 1,012
2018-03-31 9,823 2,295 1,036
2017-12-31 9,012 1,948 759
2017-09-30 7,723 -234 451
2017-06-30 7,959 179 635
2017-03-31 8,655 -761 789
2016-12-31 8,657 -536 723

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Shanghai Waigaoqiao Free Trade Zone Group is high growth as no earnings estimate data is available.
  • Unable to determine if Shanghai Waigaoqiao Free Trade Zone Group is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SHSE:900912 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Shanghai Waigaoqiao Free Trade Zone Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:900912 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SHSE:900912 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 0.80
2019-06-30 0.87
2019-03-31 0.92
2018-12-31 0.73
2018-09-30 0.94
2018-06-30 0.88
2018-03-31 0.92
2017-12-31 0.67
2017-09-30 0.40
2017-06-30 0.57
2017-03-31 0.72
2016-12-31 0.64

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Shanghai Waigaoqiao Free Trade Zone Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Shanghai Waigaoqiao Free Trade Zone Group is trading at Shanghai Waigaoqiao Free Trade Zone Group'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Shanghai Waigaoqiao Free Trade Zone Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
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Future performance checks
We assess Shanghai Waigaoqiao Free Trade Zone Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the China market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Shanghai Waigaoqiao Free Trade Zone Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Shanghai Waigaoqiao Free Trade Zone Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shanghai Waigaoqiao Free Trade Zone Group's growth in the last year to its industry (Trade Distributors).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Shanghai Waigaoqiao Free Trade Zone Group's year on year earnings growth rate has been positive over the past 5 years.
  • Shanghai Waigaoqiao Free Trade Zone Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Shanghai Waigaoqiao Free Trade Zone Group's 1-year earnings growth is negative, it can't be compared to the CN Trade Distributors industry average.
Earnings and Revenue History
Shanghai Waigaoqiao Free Trade Zone Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Shanghai Waigaoqiao Free Trade Zone Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:900912 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 8,846.25 907.47 837.20 6.43
2019-06-30 8,758.00 988.03 825.59 6.21
2019-03-31 8,792.91 1,046.55 807.55 6.48
2018-12-31 7,775.53 830.41 799.35 6.36
2018-09-30 9,126.98 1,071.40 625.83 17.72
2018-06-30 9,743.05 1,011.86 614.38 16.47
2018-03-31 9,823.18 1,035.95 639.52 14.40
2017-12-31 9,012.43 758.80 645.72 12.99
2017-09-30 7,723.04 450.54 718.48
2017-06-30 7,959.29 635.11 703.59
2017-03-31 8,654.54 788.54 634.25
2016-12-31 8,657.11 722.55 653.58
2016-09-30 9,462.37 754.33 638.37
2016-06-30 8,374.12 594.15 629.87
2016-03-31 7,500.42 324.95 682.31
2015-12-31 7,971.38 539.18 639.20
2015-09-30 7,328.41 560.57 584.47
2015-06-30 8,781.50 877.64 574.17
2015-03-31 8,613.39 904.84 543.81
2014-12-31 7,761.13 697.98 537.78
2014-09-30 7,299.65 580.34 518.26
2014-06-30 5,991.95 201.57 502.77
2014-03-31 7,021.50 544.90 510.68
2013-12-31 7,060.62 544.51 503.09
2013-09-30 8,007.00 810.80 499.73
2013-06-30 8,007.00 810.80 498.98
2013-03-31 7,103.14 391.24 503.19

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Shanghai Waigaoqiao Free Trade Zone Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shanghai Waigaoqiao Free Trade Zone Group used its assets more efficiently than the CN Trade Distributors industry average last year based on Return on Assets.
  • Shanghai Waigaoqiao Free Trade Zone Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Shanghai Waigaoqiao Free Trade Zone Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Trade Distributors industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Shanghai Waigaoqiao Free Trade Zone Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Shanghai Waigaoqiao Free Trade Zone Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Shanghai Waigaoqiao Free Trade Zone Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shanghai Waigaoqiao Free Trade Zone Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Shanghai Waigaoqiao Free Trade Zone Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shanghai Waigaoqiao Free Trade Zone Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Shanghai Waigaoqiao Free Trade Zone Group Company Filings, last reported 3 months ago.

SHSE:900912 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 11,172.09 11,762.19 2,188.77
2019-06-30 11,098.48 11,975.16 3,079.61
2019-03-31 11,322.94 10,463.23 1,752.03
2018-12-31 10,693.34 10,889.40 2,061.05
2018-09-30 11,066.53 13,151.53 2,307.14
2018-06-30 10,503.90 16,104.68 4,425.64
2018-03-31 10,697.96 14,474.28 3,298.72
2017-12-31 10,704.04 12,029.93 2,995.21
2017-09-30 10,593.32 13,963.14 3,444.41
2017-06-30 9,851.32 14,412.95 3,358.20
2017-03-31 9,913.69 14,167.48 2,735.04
2016-12-31 9,798.59 14,444.49 3,145.64
2016-09-30 9,712.87 11,875.37 2,099.06
2016-06-30 9,380.65 13,411.91 2,341.82
2016-03-31 9,428.74 12,233.16 2,268.77
2015-12-31 9,574.38 13,314.13 3,487.35
2015-09-30 9,142.11 14,300.97 5,443.94
2015-06-30 9,325.29 14,065.45 4,623.82
2015-03-31 9,488.93 12,393.09 3,480.80
2014-12-31 9,263.98 11,686.34 3,719.28
2014-09-30 8,731.15 11,570.46 3,665.04
2014-06-30 8,381.77 11,777.25 3,700.84
2014-03-31 5,769.45 14,105.33 3,505.19
2013-12-31 5,766.27 14,304.79 4,125.53
2013-09-30
2013-06-30 5,663.32 15,598.28 5,649.68
2013-03-31 5,396.94 13,658.44 5,431.76
  • Shanghai Waigaoqiao Free Trade Zone Group's level of debt (105.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (132.4% vs 105.3% today).
  • Debt is not well covered by operating cash flow (12%, less than 20% of total debt).
  • Shanghai Waigaoqiao Free Trade Zone Group earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Shanghai Waigaoqiao Free Trade Zone Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Shanghai Waigaoqiao Free Trade Zone Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Shanghai Waigaoqiao Free Trade Zone Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.71%
Current annual income from Shanghai Waigaoqiao Free Trade Zone Group dividends.
If you bought $2,000 of Shanghai Waigaoqiao Free Trade Zone Group shares you are expected to receive $54 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Shanghai Waigaoqiao Free Trade Zone Group's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.45%).
  • Shanghai Waigaoqiao Free Trade Zone Group's dividend is above the markets top 25% of dividend payers in China (1.87%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SHSE:900912 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
China Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 2.3%
China Market Average Dividend Yield Market Cap Weighted Average of 2579 Stocks 1.8%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.4%
China Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SHSE:900912 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
SHSE:900912 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-07-11 0.220 2.371
2018-07-05 0.207 2.324
2017-04-27 0.200 2.042
2016-06-27 0.150 1.288
2015-06-23 0.192 1.558
2015-04-29 0.190 1.045
2014-07-09 0.149 1.251
2014-04-28 0.150 1.472
2013-07-02 0.137 1.204
2013-04-02 0.140 2.056
2012-08-02 0.098 2.107
2012-04-27 0.100 2.286
2011-05-18 0.135 3.077
2011-03-15 0.140 2.289

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shanghai Waigaoqiao Free Trade Zone Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Shanghai Waigaoqiao Free Trade Zone Group only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Shanghai Waigaoqiao Free Trade Zone Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Shanghai Waigaoqiao Free Trade Zone Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shanghai Waigaoqiao Free Trade Zone Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shanghai Waigaoqiao Free Trade Zone Group has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Shanghai Waigaoqiao Free Trade Zone Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ying Liu
COMPENSATION CN¥782,200
AGE 46
CEO Bio

Ms. Liu Ying serves as General Manager at Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. Ms. Liu served as President at Suzhou Harmony Development Group Company. She served as President at Suzhou Sungent Holding Group Co., Ltd. She served as Party Secretary, Chairman of Board of Directors and President at Suzhou Industrial Park Trirun Investment Holding Group Co., Ltd. She serves as Chairman of Board of Directors in Hong Kong Shengao Trade Company Limited; Shanghai Waigaoqiao Xinshi Town Development and Management Company Limited; and Shanghai Xingaoqiao Development Company Limited. She serves as Vice Chairman of Board of Directors in Shanghai Qiaofu Waigaoqiao Properties Company Limited. She serves as Director at Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. Ms. Liu holds EMBA Degree.

CEO Compensation
  • Ying's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Ying's remuneration is lower than average for companies of similar size in China.
Management Team

Hong Liu

TITLE
Chairman of Board of Directors and Deputy General Manager
COMPENSATION
CN¥573K
AGE
57

Ying Liu

TITLE
General Manager and Director
COMPENSATION
CN¥782K
AGE
46

Ji Lu

TITLE
Deputy General Manager
COMPENSATION
CN¥483K

Wei Li

TITLE
Deputy General Manager
COMPENSATION
CN¥476K

Zhong Yao

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥480K
AGE
51

Yun Zhang Li

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥491K
AGE
62

Lin Huang

TITLE
Manager of Office of Board of Directors and Secretary of Board of Directors
COMPENSATION
CN¥684K
AGE
40
Board of Directors

Ying Liu

TITLE
General Manager and Director
COMPENSATION
CN¥782K
AGE
46

Zhong Yao

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥480K
AGE
51

Yun Zhang Li

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥491K
AGE
62

Min Liang Ma

TITLE
Chairman of Supervisory Board
AGE
63

Hong Liu

TITLE
Chairman of Board of Directors and Deputy General Manager
COMPENSATION
CN¥573K
AGE
57

Tianle Gao

TITLE
Independent Director
COMPENSATION
CN¥40K

Zhiqiang Li

TITLE
Independent Director
AGE
52

Zheng Quan Feng

TITLE
Independent Director
COMPENSATION
CN¥100K
AGE
76

Wangjue Peng

TITLE
Non-Independent Director
AGE
61

Cheng Qu

TITLE
Director
AGE
62
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Shanghai Waigaoqiao Free Trade Zone Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Shanghai Waigaoqiao Free Trade Zone Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd., through its subsidiaries, engages in the trade and logistic, and real estate development business in China. It is also involved in the investment, operation, and management of logistics parks and urbanized living areas; and development of bonded warehousing. The company was formerly known as Shanghai Waigaoqiao Free Trade Zone Development Co., Ltd. and changed its name to Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd. in September 2015. The company was founded in 1992 and is based in Shanghai, China.

Details
Name: Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd.
900912
Exchange: SHSE
Founded: 1992
$2,515,883,598
1,135,349,124
Website: http://www.china-ftz.com
Address: Shanghai Waigaoqiao Free Trade Zone Group Co., Ltd.
Senlan International,
Block B, 15-16 Floors,
Shanghai,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 900912 Foreign Shares-Domestically Listed Shanghai Stock Exchange CN USD 21. Sep 1993
SHSE 600648 Domestic Shares Shanghai Stock Exchange CN CNY 25. Oct 1993
XSSC 600648 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 25. Oct 1993
Number of employees
Current staff
Staff numbers
3,306
Shanghai Waigaoqiao Free Trade Zone Group employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/28 14:58
End of day share price update: 2020/01/23 00:00
Last estimates confirmation: 2018/04/26
Last earnings filing: 2019/10/29
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.