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China SpacesatLtd

XSSC:600118
Snowflake Description

Excellent balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
600118
XSSC
CN¥39B
Market Cap
  1. Home
  2. CN
  3. Capital Goods
Company description

China Spacesat Co.,Ltd. engages in the aerospace manufacturing and aerospace technology applications businesses in China. The last earnings update was 166 days ago. More info.


Add to Portfolio Compare Print
  • China SpacesatLtd has significant price volatility in the past 3 months.
600118 Share Price and Events
7 Day Returns
12%
XSSC:600118
0.1%
CN Aerospace & Defense
1.6%
CN Market
1 Year Returns
26%
XSSC:600118
-13%
CN Aerospace & Defense
-8.9%
CN Market
600118 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China SpacesatLtd (600118) 12% -9.8% 42% 26% -2.7% -5.3%
CN Aerospace & Defense 0.1% -12.9% -6% -13% -29.6% -33.1%
CN Market 1.6% -10.6% -7.3% -8.9% -15.5% -28%
1 Year Return vs Industry and Market
  • 600118 outperformed the Aerospace & Defense industry which returned -13% over the past year.
  • 600118 outperformed the Market in China which returned -8.9% over the past year.
Price Volatility
600118
Industry
5yr Volatility vs Market

600118 Value

 Is China SpacesatLtd 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 China SpacesatLtd 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 China SpacesatLtd.

XSSC:600118 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
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:600118
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.846 (1 + (1- 25%) (2.2%))
0.906
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (0.906 * 6.33%)
8.94%

Discounted Cash Flow Calculation for XSSC:600118 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China SpacesatLtd 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:600118 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.94%)
2020 1,881.10 Est @ 67.47% 1,726.81
2021 2,787.63 Est @ 48.19% 2,349.08
2022 3,754.78 Est @ 34.69% 2,904.54
2023 4,702.70 Est @ 25.25% 3,339.43
2024 5,578.91 Est @ 18.63% 3,636.69
2025 6,360.10 Est @ 14% 3,805.85
2026 7,044.56 Est @ 10.76% 3,869.66
2027 7,642.86 Est @ 8.49% 3,853.95
2028 8,170.62 Est @ 6.91% 3,782.13
2029 8,644.00 Est @ 5.79% 3,673.06
Present value of next 10 years cash flows CN¥32,941.00
XSSC:600118 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥8,644.00 × (1 + 3.2%) ÷ (8.94% – 3.2%)
CN¥155,537.94
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥155,537.94 ÷ (1 + 8.94%)10
CN¥66,092.00
XSSC:600118 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥32,941.00 + CN¥66,092.00
CN¥99,033.00
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥99,033.00 / 1,182.49
CN¥83.75
XSSC:600118 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥83.75
Current discount Discount to share price of CN¥32.74
= -1 x (CN¥32.74 - CN¥83.75) / CN¥83.75
60.9%

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

Current Discount
Amount off the current price China SpacesatLtd is available for.
Intrinsic value
>50%
Share price is CN¥32.74 vs Future cash flow value of CN¥83.75
Current Discount Checks
For China SpacesatLtd to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China SpacesatLtd's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China SpacesatLtd'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 China SpacesatLtd's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China SpacesatLtd's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XSSC:600118 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥0.34
SHSE:600118 Share Price ** SHSE (2020-04-07) in CNY CN¥32.74
China Aerospace & Defense Industry PE Ratio Median Figure of 33 Publicly-Listed Aerospace & Defense Companies 49.05x
China Market PE Ratio Median Figure of 3,200 Publicly-Listed Companies 32.36x

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

** Primary Listing of China SpacesatLtd.

XSSC:600118 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:600118 Share Price ÷ EPS (both in CNY)

= 32.74 ÷ 0.34

96.52x

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

  • China SpacesatLtd is overvalued based on earnings compared to the CN Aerospace & Defense industry average.
  • China SpacesatLtd is overvalued based on earnings compared to the China market.
Price based on expected Growth
Does China SpacesatLtd's expected growth come at a high price?
Raw Data
XSSC:600118 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 96.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
14.5%per year
China Aerospace & Defense Industry PEG Ratio Median Figure of 14 Publicly-Listed Aerospace & Defense Companies 2.34x
China Market PEG Ratio Median Figure of 1,274 Publicly-Listed Companies 1.27x

*Line of best fit is calculated by linear regression .

XSSC:600118 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 96.52x ÷ 14.5%

6.67x

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

  • China SpacesatLtd is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on China SpacesatLtd's assets?
Raw Data
XSSC:600118 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥4.44
SHSE:600118 Share Price * SHSE (2020-04-07) in CNY CN¥32.74
China Aerospace & Defense Industry PB Ratio Median Figure of 36 Publicly-Listed Aerospace & Defense Companies 3.07x
China Market PB Ratio Median Figure of 3,691 Publicly-Listed Companies 2.26x
XSSC:600118 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:600118 Share Price ÷ Book Value per Share (both in CNY)

= 32.74 ÷ 4.44

7.37x

* Primary Listing of China SpacesatLtd.

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

  • China SpacesatLtd is overvalued based on assets compared to the CN Aerospace & Defense industry average.
X
Value checks
We assess China SpacesatLtd'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 Aerospace & Defense 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 Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. China SpacesatLtd has a total score of 2/6, 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.

600118 Future Performance

 How is China SpacesatLtd expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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
14.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China SpacesatLtd expected to grow at an attractive rate?
  • China SpacesatLtd's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • China SpacesatLtd's earnings growth is positive but not above the China market average.
  • China SpacesatLtd's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
XSSC:600118 Future Growth Rates Data Sources
Data Point Source Value (per year)
XSSC:600118 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 14.5%
XSSC:600118 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 12.4%
China Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 19.2%
China Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 12%
China Market Earnings Growth Rate Market Cap Weighted Average 20.8%
China Market Revenue Growth Rate Market Cap Weighted Average 15.8%

*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:600118 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XSSC:600118 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 10,071 840 587 2
2020-12-31 8,833 316 506 2
2020-04-07
2019-12-31 8,039 999 451 2
XSSC:600118 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 7,442 1,334 414
2019-06-30 7,511 1,121 427
2019-03-31 7,640 671 423
2018-12-31 7,583 868 418
2018-09-30 7,921 137 423
2018-06-30 7,917 -291 413
2018-03-31 7,538 -177 412
2017-12-31 7,385 -371 410
2017-09-30 7,067 419 420
2017-06-30 6,818 423 412
2017-03-31 6,467 495 399
2016-12-31 6,337 631 398

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China SpacesatLtd's earnings are expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
  • China SpacesatLtd's revenue is expected to grow by 12.4% yearly, however this is not considered high growth (20% yearly).
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:600118 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from China SpacesatLtd Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600118 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.50 0.56 0.44 2.00
2020-12-31 0.43 0.46 0.40 2.00
2020-04-07
2019-12-31 0.39 0.40 0.37 2.00
XSSC:600118 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 0.34
2019-06-30 0.36
2019-03-31 0.36
2018-12-31 0.35
2018-09-30 0.36
2018-06-30 0.35
2018-03-31 0.35
2017-12-31 0.35
2017-09-30 0.36
2017-06-30 0.35
2017-03-31 0.34
2016-12-31 0.34

*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.
  • China SpacesatLtd is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China SpacesatLtd'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.
China SpacesatLtd has a total score of 1/6, 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.

600118 Past Performance

  How has China SpacesatLtd 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 China SpacesatLtd's growth in the last year to its industry (Aerospace & Defense).
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.
  • China SpacesatLtd's year on year earnings growth rate has been positive over the past 5 years.
  • China SpacesatLtd's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China SpacesatLtd's 1-year earnings growth is negative, it can't be compared to the CN Aerospace & Defense industry average.
Earnings and Revenue History
China SpacesatLtd'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 China SpacesatLtd Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600118 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 7,441.89 413.58 457.16 108.13
2019-06-30 7,511.24 426.76 417.81 111.09
2019-03-31 7,639.72 422.65 434.11 110.30
2018-12-31 7,583.02 417.64 412.37 108.00
2018-09-30 7,920.87 422.80 404.83 74.69
2018-06-30 7,917.19 413.48 375.02 94.23
2018-03-31 7,537.82 411.51 370.22 78.64
2017-12-31 7,385.04 409.60 368.05 59.60
2017-09-30 7,067.42 420.16 353.61 36.72
2017-06-30 6,817.63 411.73 403.32
2017-03-31 6,467.19 399.27 383.49
2016-12-31 6,337.26 397.66 383.12
2016-09-30 5,844.31 376.86 409.51
2016-06-30 5,641.86 378.10 395.27
2016-03-31 5,591.17 379.27 388.49
2015-12-31 5,448.38 383.50 376.28
2015-09-30 4,548.29 382.06 365.08
2015-06-30 4,462.51 364.52 367.34
2015-03-31 4,636.79 365.69 362.38
2014-12-31 4,664.10 356.35 347.93
2014-09-30 4,805.60 301.68 330.35
2014-06-30 4,933.52 318.72 304.68
2014-03-31 4,893.69 314.09 308.98
2013-12-31 4,803.53 305.80 303.43
2013-09-30 4,545.11 315.17 312.80
2013-06-30 4,560.66 303.24 323.62

*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.
  • China SpacesatLtd has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China SpacesatLtd used its assets less efficiently than the CN Aerospace & Defense industry average last year based on Return on Assets.
  • China SpacesatLtd's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China SpacesatLtd'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 Aerospace & Defense 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.
China SpacesatLtd has a total score of 1/6, 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.

600118 Health

 How is China SpacesatLtd'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 China SpacesatLtd's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China SpacesatLtd is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China SpacesatLtd's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China SpacesatLtd'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 13x 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 China SpacesatLtd Company Filings, last reported 6 months ago.

XSSC:600118 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 6,761.90 850.67 3,461.32
2019-06-30 6,683.26 357.00 2,660.93
2019-03-31 6,676.34 219.00 2,678.30
2018-12-31 6,634.69 207.00 3,056.96
2018-09-30 6,467.33 559.00 2,153.81
2018-06-30 6,526.44 463.00 2,087.30
2018-03-31 6,394.05 297.00 2,400.47
2017-12-31 6,322.32 282.00 2,601.67
2017-09-30 5,943.14 722.53 2,295.49
2017-06-30 5,850.79 774.00 2,711.56
2017-03-31 5,865.24 655.00 3,147.71
2016-12-31 5,751.29 848.00 3,789.22
2016-09-30 5,548.51 657.77 2,224.91
2016-06-30 5,464.26 621.97 2,592.32
2016-03-31 5,474.84 496.97 2,996.88
2015-12-31 5,409.94 438.80 3,337.85
2015-09-30 5,174.40 412.80 3,097.91
2015-06-30 5,093.12 282.80 3,066.77
2015-03-31 5,083.16 264.80 3,340.76
2014-12-31 4,948.54 295.65 3,644.11
2014-09-30 4,781.56 275.85 3,330.28
2014-06-30 4,682.94 162.35 3,310.21
2014-03-31 4,620.63 226.45 3,374.60
2013-12-31 4,571.30 255.00 3,850.26
2013-09-30 4,449.98 302.20 3,491.30
2013-06-30 2,944.57 272.20 2,080.53
  • China SpacesatLtd's level of debt (12.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.8% vs 12.6% today).
  • Debt is well covered by operating cash flow (156.9%, greater than 20% of total debt).
  • China SpacesatLtd earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess China SpacesatLtd'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. China SpacesatLtd 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.

600118 Dividends

 What is China SpacesatLtd'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
0.34%
Current annual income from China SpacesatLtd dividends.
If you bought CN¥2,000 of China SpacesatLtd shares you are expected to receive CN¥7 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?
  • China SpacesatLtd's pays a lower dividend yield than the bottom 25% of dividend payers in China (0.46%).
  • China SpacesatLtd's dividend is below the markets top 25% of dividend payers in China (2.03%).
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:600118 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 2 Analyst Estimates (S&P Global) See Below
China Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 0.6%
China Market Average Dividend Yield Market Cap Weighted Average of 2587 Stocks 1.9%
China Minimum Threshold Dividend Yield 10th Percentile 0.2%
China Bottom 25% Dividend Yield 25th Percentile 0.5%
China Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

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

XSSC:600118 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2020-04-07
2019-12-31
XSSC:600118 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-19 0.110 0.459
2018-07-03 0.110 0.599
2017-06-08 0.110 0.450
2016-05-12 0.100 0.312
2015-04-20 0.080 0.193
2014-06-16 0.080 0.333
2013-04-26 0.100 0.605
2013-02-27 0.100 0.626
2012-05-14 0.039 0.329
2011-06-13 0.039 0.251
2010-02-10 0.019 0.122

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of China SpacesatLtd's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x 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 China SpacesatLtd'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 China SpacesatLtd afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China SpacesatLtd 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.

600118 Management

 What is the CEO of China SpacesatLtd'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
Yu Jun Ge
COMPENSATION CN¥0
AGE 51
TENURE AS CEO 3.3 years
CEO Bio

Mr. Yu Jun Ge has been President of China Spacesat Co., Ltd. since January 17, 2017. Yu Jun Ge served as Vice President at China Spacesat Co., Ltd.

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

Yu Jun Ge

TITLE
President
AGE
51
TENURE
3.3 yrs

Yuan Li

TITLE
Chief Financial Officer
AGE
44

Wen Tao Wang

TITLE
Senior Vice President

Yinjuan Wan

TITLE
Secretary of the Board of Directors
AGE
47

Wang Wenli

TITLE
Vice President
AGE
53
TENURE
9.3 yrs

Hai Tao Wang

TITLE
Vice President
AGE
47
Board of Directors

Xudong Liu

TITLE
Chairman of Supervisory Board
AGE
59

Zhong Wen Yan

TITLE
Director

Li Jing Chen

TITLE
Independent Director
AGE
62

Zhongbao Li

TITLE
Director
AGE
51

Yue Ming Mo

TITLE
Director
AGE
54

Hong Tai Zhang

TITLE
Director
AGE
52

Xiaojin Zhao

TITLE
Director
TENURE
3.7 yrs

Hu Li

TITLE
Director
AGE
44

Jie Li

TITLE
Director
AGE
49

Shi Wen Lei

TITLE
Independent Director
AGE
54
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 China SpacesatLtd'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. China SpacesatLtd 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.

600118 News

Simply Wall St News

600118 Company Info

Description

China Spacesat Co.,Ltd. engages in the aerospace manufacturing and aerospace technology applications businesses in China. The company develops and sells small and micro satellites, such as CAST10, CAST20, CAST2000, CAST3000, CAST4000, and other small/small satellite public platforms. Its satellite products also include optical remote sensing, electromagnetic and microwave remote sensing, and science and technology testing products. In addition, the company is also involved in the integration of satellite ground application systems; trading business; and provision of technology consulting and technical training services. Its products and services are used in the fields of communications, satellite navigation, satellite remote sensing, cloud computing and information security, and smart cities, as well as national defense and economic construction, social development, etc. The company also exports its products. It operates under the Aerospace Dongfanghong, Aerospace Star, and Shenzhen Dongfanghong brand names. The company is based in Beijing, China. China Spacesat Co.,Ltd. is a subsidiary of China Aerospace Science and Technology Corporation.

Details
Name: China Spacesat Co.,Ltd.
600118
Exchange: XSSC
Founded:
CN¥38,714,694,279
1,182,489,135
Website: http://www.spacesat.com.cn
Address: China Spacesat Co.,Ltd.
Shenzhou Building,
12th Floor,
Beijing,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 600118 Domestic Shares Shanghai Stock Exchange CN CNY 01. Dec 1997
XSSC 600118 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 01. Dec 1997
Number of employees
Current staff
Staff numbers
4,493
China SpacesatLtd employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:12
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/03/20
Last earnings filing: 2019/10/24
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.