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Minmetals Development

XSSC:600058
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
600058
XSSC
CN¥8B
Market Cap
  1. Home
  2. CN
  3. Capital Goods
Company description

Minmetals Development Co., Ltd. operates as a steel distribution service provider in China and internationally. The last earnings update was 114 days ago. More info.


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600058 Share Price and Events
7 Day Returns
4.1%
XSSC:600058
5.5%
CN Trade Distributors
2.8%
CN Market
1 Year Returns
-1.3%
XSSC:600058
13.2%
CN Trade Distributors
19.4%
CN Market
600058 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Minmetals Development (600058) 4.1% -9.6% -3.8% -1.3% -55% -53.4%
CN Trade Distributors 5.5% 2.1% 14.9% 13.2% -34.4% -31.5%
CN Market 2.8% -0.8% 9.5% 19.4% -8.5% 5.6%
1 Year Return vs Industry and Market
  • 600058 underperformed the Trade Distributors industry which returned 13.2% over the past year.
  • 600058 underperformed the Market in China which returned 19.4% over the past year.
Price Volatility
600058
Industry
5yr Volatility vs Market

Value

 Is Minmetals Development 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 Minmetals Development 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 Minmetals Development.

XSSC:600058 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 10.8%
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 XSSC:600058
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 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.957 (1 + (1- 25%) (46.53%))
1.195
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.195 * 6.33%)
10.76%

Discounted Cash Flow Calculation for XSSC:600058 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Minmetals Development 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.

XSSC:600058 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.76%)
2020 8,117.81 Est @ 85.31% 7,329.07
2021 13,043.65 Est @ 60.68% 10,632.12
2022 18,709.25 Est @ 43.44% 13,768.52
2023 24,577.39 Est @ 31.36% 16,329.65
2024 30,209.41 Est @ 22.92% 18,121.48
2025 35,345.26 Est @ 17% 19,142.25
2026 39,890.87 Est @ 12.86% 19,504.98
2027 43,864.96 Est @ 9.96% 19,364.22
2028 47,345.06 Est @ 7.93% 18,869.80
2029 50,428.92 Est @ 6.51% 18,146.07
Present value of next 10 years cash flows CN¥161,208.00
XSSC:600058 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥50,428.92 × (1 + 3.2%) ÷ (10.76% – 3.2%)
CN¥688,237.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥688,237.90 ÷ (1 + 10.76%)10
CN¥247,651.83
XSSC:600058 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥161,208.00 + CN¥247,651.83
CN¥408,859.83
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥408,859.83 / 1,071.91
CN¥381.43
XSSC:600058 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in XSSC:600058 represents 0.98063x of SHSE:600058
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98063x
Value per Share
(Listing Adjusted, CNY)
= Value per Share (CNY) x Listing Adjustment Factor
= CN¥ 381.43 x 0.98063
CN¥374.04
Value per share (CNY) From above. CN¥374.04
Current discount Discount to share price of CN¥7.09
= -1 x (CN¥7.09 - CN¥374.04) / CN¥374.04
98.1%

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

Current Discount
Amount off the current price Minmetals Development is available for.
Intrinsic value
>50%
Share price is CN¥7.09 vs Future cash flow value of CN¥374.04
Current Discount Checks
For Minmetals Development to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Minmetals Development's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Minmetals Development's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Minmetals Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Minmetals Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XSSC:600058 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥-0.29
SHSE:600058 Share Price ** SHSE (2020-02-19) in CNY CN¥7.23
China Trade Distributors Industry PE Ratio Median Figure of 32 Publicly-Listed Trade Distributors Companies 31.57x
China Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 33.35x

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

** Primary Listing of Minmetals Development.

XSSC:600058 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:600058 Share Price ÷ EPS (both in CNY)

= 7.23 ÷ -0.29

-24.54x

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

  • Minmetals Development is loss making, we can't compare its value to the CN Trade Distributors industry average.
  • Minmetals Development is loss making, we can't compare the value of its earnings to the China market.
Price based on expected Growth
Does Minmetals Development's expected growth come at a high price?
Raw Data
XSSC:600058 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -24.54x
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 1.7x
China Market PEG Ratio Median Figure of 1,290 Publicly-Listed Companies 1.37x

*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 Minmetals Development, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Minmetals Development's assets?
Raw Data
XSSC:600058 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥6.20
SHSE:600058 Share Price * SHSE (2020-02-19) in CNY CN¥7.23
China Trade Distributors Industry PB Ratio Median Figure of 40 Publicly-Listed Trade Distributors Companies 1.72x
China Market PB Ratio Median Figure of 3,649 Publicly-Listed Companies 2.4x
XSSC:600058 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:600058 Share Price ÷ Book Value per Share (both in CNY)

= 7.23 ÷ 6.20

1.17x

* Primary Listing of Minmetals Development.

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

  • Minmetals Development is good value based on assets compared to the CN Trade Distributors industry average.
X
Value checks
We assess Minmetals Development'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. Minmetals Development 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 Minmetals Development 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 Minmetals Development 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
25%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Minmetals Development expected to grow at an attractive rate?
  • Unable to compare Minmetals Development's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Minmetals Development's earnings growth to the China market average as no estimate data is available.
  • Unable to compare Minmetals Development's revenue growth to the China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
XSSC:600058 Future Growth Rates Data Sources
Data Point Source Value (per year)
China Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 25%
China Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 16.7%
China Market Earnings Growth Rate Market Cap Weighted Average 22%
China Market Revenue Growth Rate Market Cap Weighted Average 16.2%

*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
XSSC:600058 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 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.
XSSC:600058 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
XSSC:600058 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 61,061 4,497 -267
2019-06-30 58,199 3,596 -563
2019-03-31 57,756 2,065 -801
2018-12-31 56,530 -231 -804
2018-09-30 55,946 -1,004 -399
2018-06-30 56,784 -1,492 -134
2018-03-31 58,328 -663 48
2017-12-31 59,020 384 35
2017-09-30 55,752 -36 37
2017-06-30 51,674 1,381 -65
2017-03-31 45,283 10,631 -123
2016-12-31 40,727 10,992 29

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Minmetals Development is high growth as no earnings estimate data is available.
  • Unable to determine if Minmetals Development 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
XSSC:600058 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Minmetals Development Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600058 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
XSSC:600058 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 -0.29
2019-06-30 -0.53
2019-03-31 -0.88
2018-12-31 -0.89
2018-09-30 -0.37
2018-06-30 -0.12
2018-03-31 0.04
2017-12-31 0.03
2017-09-30 0.03
2017-06-30 -0.06
2017-03-31 -0.11
2016-12-31 0.03

*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 Minmetals Development will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Minmetals Development is trading at Minmetals Development'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. Minmetals Development'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
X
Future performance checks
We assess Minmetals Development'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.
Minmetals Development 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 Minmetals Development 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 Minmetals Development'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.
  • Minmetals Development does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Minmetals Development's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Minmetals Development's 1-year growth to the CN Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Minmetals Development'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 Minmetals Development Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600058 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 61,061.34 -267.32 1,969.50 -0.06
2019-06-30 58,198.87 -562.89 1,807.43
2019-03-31 57,756.38 -801.31 1,992.87
2018-12-31 56,530.04 -803.92 1,992.42
2018-09-30 55,946.01 -399.44 1,723.37 0.28
2018-06-30 56,783.98 -133.74 1,650.67
2018-03-31 58,328.10 47.91 1,766.26
2017-12-31 59,020.16 34.51 1,754.19
2017-09-30 55,752.13 37.34 1,556.30
2017-06-30 51,674.17 -64.66 1,793.75
2017-03-31 45,282.98 -123.38 1,504.69
2016-12-31 40,726.68 28.95 1,513.49
2016-09-30 36,532.31 -3,002.33 3,351.27
2016-06-30 43,284.75 -3,547.01 3,542.53
2016-03-31 52,223.37 -3,694.31 3,744.11
2015-12-31 61,985.52 -3,953.00 3,943.41
2015-09-30 78,024.91 -887.42 1,976.85
2015-06-30 100,388.22 -109.30 2,015.25
2015-03-31 114,588.62 68.72 1,980.37
2014-12-31 134,559.38 210.05 1,926.89
2014-09-30 182,120.81 224.55 1,796.65
2014-06-30 196,019.82 114.70 2,025.70
2014-03-31 207,859.68 216.36 1,795.64
2013-12-31 203,259.15 279.78 1,817.22
2013-09-30 172,684.27 352.71 1,691.50
2013-06-30 155,032.79 75.80 1,488.08
2013-03-31 150,443.57 -404.00 1,543.17

*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.
  • It is difficult to establish if Minmetals Development has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Minmetals Development has efficiently used its assets last year compared to the CN Trade Distributors industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Minmetals Development improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Minmetals Development'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.
Minmetals Development has a total score of 0/6, 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 Minmetals Development'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 Minmetals Development's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Minmetals Development is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Minmetals Development's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Minmetals Development'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 6x 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 Minmetals Development Company Filings, last reported 4 months ago.

XSSC:600058 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 6,775.02 3,606.07 3,617.93
2019-06-30 6,724.66 5,997.62 3,588.92
2019-03-31 6,734.92 4,857.10 2,314.95
2018-12-31 6,713.05 6,852.82 2,850.95
2018-09-30 7,207.13 5,648.37 1,663.09
2018-06-30 7,466.74 6,463.71 2,104.18
2018-03-31 7,701.20 6,098.37 1,985.64
2017-12-31 7,686.77 5,023.66 2,676.34
2017-09-30 5,192.17 7,729.51 2,230.68
2017-06-30 5,172.27 9,337.40 3,177.51
2017-03-31 5,158.61 7,791.87 2,212.56
2016-12-31 5,183.49 9,139.22 3,378.25
2016-09-30 5,175.28 7,744.68 2,785.45
2016-06-30 5,262.25 9,222.12 3,255.87
2016-03-31 5,316.58 17,737.38 2,081.15
2015-12-31 5,158.80 17,619.40 3,055.92
2015-09-30 9,017.37 20,128.38 2,135.16
2015-06-30 9,788.91 20,787.79 2,940.42
2015-03-31 10,287.40 20,365.61 2,866.77
2014-12-31 10,511.40 19,279.04 1,933.92
2014-09-30 10,644.24 20,864.18 1,945.12
2014-06-30 10,473.01 22,464.67 3,029.04
2014-03-31 10,646.45 19,337.59 2,267.49
2013-12-31 10,809.96 15,233.08 1,759.84
2013-09-30 10,788.33 17,872.99 2,089.15
2013-06-30 10,854.72 14,740.41 2,430.46
2013-03-31 10,826.83 12,842.22 1,806.68
  • Minmetals Development's level of debt (53.2%) 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 (195.9% vs 53.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Minmetals Development has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Minmetals Development has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -29.9% per year.
X
Financial health checks
We assess Minmetals Development'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. Minmetals Development has a total score of 5/6, 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 Minmetals Development'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
0%
Current annual income from Minmetals Development dividends.
If you bought CN¥2,000 of Minmetals Development shares you are expected to receive CN¥0 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?
  • Unable to evaluate Minmetals Development's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Minmetals Development's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
XSSC:600058 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 23 Stocks 2.2%
China Market Average Dividend Yield Market Cap Weighted Average of 2578 Stocks 1.7%
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.

XSSC:600058 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
XSSC:600058 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2016-10-28 0.000 0.000
2016-08-29 0.000 0.000
2016-04-29 0.000 0.000
2016-03-30 0.000 0.000
2015-04-30 0.080 0.363
2014-06-16 0.105 0.752
2014-01-06 0.000 0.000
2013-05-02 0.000 0.000
2013-04-01 0.000 0.000
2012-03-30 0.210 1.147
2011-06-02 0.150 0.577
2010-03-29 0.100 0.439
2009-03-30 0.320 1.697

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

  • Unable to perform a dividend volatility check as Minmetals Development has not reported any payouts.
  • Unable to verify if Minmetals Development's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Minmetals Development's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Minmetals Development has not reported any payouts.
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 Minmetals Development'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 Minmetals Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Minmetals Development has a total score of 0/6, 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 Minmetals Development'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
Qingchun Liu
COMPENSATION CN¥1,220,300
AGE 53
TENURE AS CEO 4.4 years
CEO Bio

Mr. Qingchun Liu has been General Manager of Minmetals Development Co., Ltd. since September 2015. Mr. Liu serves as the Managing Director of Minmetals Cheerglory Limited. He has more than ten years of experience in international trading and business management in the iron and steel industry. He has held a number of senior management positions in China Minmetals Group since 1997. He serves as the Business Director of Ferrous Trading and Logistics Centre of China Minmetals Corp. He serves as Deputy General Manager of China Minmetals H.K. (Holding) Ltd and Managing Director of Cheerglory Traders Ltd. He served as General Manager of the Coke Division and a Supervisor at Minmetals Development Co. Ltd. He serves as a Director at Minmetals Development Co., Ltd. He serves as a Director of China Minmetals H.K. (Holding) and Beijing Newglory International Ltd. He served as Non Executive Director of IRC Limited from April 12, 2013 to June 28, 2016. He served as a Non Executive Director of Winsway Enterprises Holdings Limited (formerly, Winsway Coking Coal Holdings Limited) from June 18, 2010 to August 31, 2015. Mr. Liu has an MBA from Saint Mary's University in 1999 and a Bachelor's Degree in International Economics Law from Shanghai institute of foreign trade in 1989.

CEO Compensation
  • Qingchun's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Qingchun's remuneration is higher than average for companies of similar size in China.
Management Team

Qingchun Liu

TITLE
General Manager and Director
COMPENSATION
CN¥1M
AGE
53
TENURE
4.4 yrs

Hui Chen

TITLE
Chief Financial Officer and Deputy General Manager
COMPENSATION
CN¥1M
AGE
47

Engang Yu

TITLE
Chief Information Officer and Deputy General Manager
COMPENSATION
CN¥688K
AGE
50

Shao Rong Chen

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥1M
AGE
55

Jia You Yan

TITLE
Deputy General Manager
COMPENSATION
CN¥461K
AGE
54

Yu Long

TITLE
Deputy General Manager
COMPENSATION
CN¥979K
AGE
46

Xiaoguang Jin

TITLE
Deputy General Manager
COMPENSATION
CN¥499K
AGE
52

Zhenzhong Wang

TITLE
Deputy General Manager
COMPENSATION
CN¥1M

Jiang Zhu

TITLE
Deputy General Manager
COMPENSATION
CN¥421K

Qingyu Wu

TITLE
Deputy General Manager
COMPENSATION
CN¥353K
Board of Directors Tenure

Average tenure and age of the Minmetals Development board of directors in years:

5.9
Average Tenure
53
Average Age
  • The tenure for the Minmetals Development board of directors is about average.
Board of Directors

Ziping Yao

TITLE
Chairman
AGE
45
TENURE
5.9 yrs

Qingchun Liu

TITLE
General Manager and Director
COMPENSATION
CN¥1M
AGE
53

Shao Rong Chen

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥1M
AGE
55

Bo Xing

TITLE
Deputy General Manager and Non-Independent Director
COMPENSATION
CN¥498K
AGE
54

Gang Han

TITLE
Deputy General Manager and Director
COMPENSATION
CN¥1M
AGE
47

Su Qing Zhang

TITLE
Chairman of the Supervisory Board
AGE
60
TENURE
7.8 yrs

Min Tang

TITLE
Independent Director
COMPENSATION
CN¥200K
AGE
64
TENURE
5.8 yrs

Shou Wen Zhang

TITLE
Independent Director
COMPENSATION
CN¥58K
AGE
51
TENURE
5.7 yrs

Xiu Li Wang

TITLE
Independent Director
COMPENSATION
CN¥200K
AGE
52

Shuqiang Zhang

TITLE
Director
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 (CN¥) Value (CN¥)
X
Management checks
We assess Minmetals Development'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. Minmetals Development 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

Minmetals Development Co., Ltd. operates as a steel distribution service provider in China and internationally. It offers iron ore, coal, coke, pig iron, steel billets, scrap steel, waste ships, refractory materials, barite, fluorspar, talc, silicon carbide, and metallurgical industry raw materials; and ferrochrome, silicomanganese, ferromanganese, electrolytic manganese, ferrosilicon, molybdenum iron, molybdenum oxide, nickel iron, tungsten iron, ferrovanadium, ferrotitanium, boron iron, iron alloys, and alloy raw materials, such as chrome ore and manganese ore. The company also provides rebars, high wires, coiled screws, hot rolled coils, strips, plates, cold rolled coils, galvanized sheets, color coated sheets and various industrial materials, steel and stainless steel, special steel, steel pipes, cast pipe castings, auto parts, hardware and electrical equipment, complete sets of equipment, etc. It addition, it is involved in the provision of logistics, transportation, freight forwarding, ship generation, warehousing, and processing and distribution, as well as insurance and supply chain finance services; tendering business; industrial investment business; and operation of an e-commerce platform to sell its products. Further, the company engages in the short, medium, and long-term time charter operations and escrow business, as well as offers shipping for dry bulk and groceries, containers shipping services, and engineering logistics projects; and consulting services, such as transportation design, market forecasting, and analysis. The company is based in Beijing, China.

Details
Name: Minmetals Development Co., Ltd.
600058
Exchange: XSSC
Founded:
CN¥7,749,914,440
1,071,910,711
Website: http://www.minlist.com.cn
Address: Minmetals Development Co., Ltd.
No. 5 Sanlihe Road,
Block B,
Beijing,
100044,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 600058 Domestic Shares Shanghai Stock Exchange CN CNY 20. Aug 1998
XSSC 600058 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 20. Aug 1998
Number of employees
Current staff
Staff numbers
4,025
Minmetals Development employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 16:00
End of day share price update: 2020/02/19 00:00
Last estimates confirmation: 2018/02/13
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.