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Lao Feng Xiang

XSSC:600612
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
600612
XSSC
CN¥21B
Market Cap
  1. Home
  2. CN
  3. Consumer Durables
Company description

Lao Feng Xiang Co., Ltd. operates in the jewelry industry in the People's Republic of China and internationally. The last earnings update was 42 days ago. More info.


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600612 Share Price and Events
7 Day Returns
2.8%
XSSC:600612
2.1%
CN Luxury
2%
CN Market
1 Year Returns
23.5%
XSSC:600612
-7.4%
CN Luxury
17.6%
CN Market
600612 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Lao Feng Xiang (600612) 2.8% -0.3% -5.4% 23.5% 26.8% 40.9%
CN Luxury 2.1% -3.5% -6.2% -7.4% -50.7% -24.5%
CN Market 2% -1.7% -2.7% 17.6% -16.9% 7.3%
1 Year Return vs Industry and Market
  • 600612 outperformed the Luxury industry which returned -7.4% over the past year.
  • 600612 outperformed the Market in China which returned 17.6% over the past year.
Price Volatility
600612
Industry
5yr Volatility vs Market

600612 Value

 Is Lao Feng Xiang 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 Lao Feng Xiang 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 Lao Feng Xiang.

XSSC:600612 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
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:600612
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.838 (1 + (1- 25%) (39.11%))
1.056
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.056 * 6.33%)
9.88%

Discounted Cash Flow Calculation for XSSC:600612 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Lao Feng Xiang 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:600612 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.88%)
2020 1,210.00 Analyst x1 1,101.17
2021 1,270.58 Est @ 5.01% 1,052.30
2022 1,327.31 Est @ 4.46% 1,000.41
2023 1,381.54 Est @ 4.09% 947.62
2024 1,434.31 Est @ 3.82% 895.33
2025 1,486.43 Est @ 3.63% 844.40
2026 1,538.51 Est @ 3.5% 795.38
2027 1,591.02 Est @ 3.41% 748.54
2028 1,644.30 Est @ 3.35% 704.02
2029 1,698.63 Est @ 3.3% 661.87
Present value of next 10 years cash flows CN¥8,751.00
XSSC:600612 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,698.63 × (1 + 3.2%) ÷ (9.88% – 3.2%)
CN¥26,228.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥26,228.40 ÷ (1 + 9.88%)10
CN¥10,219.88
XSSC:600612 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥8,751.00 + CN¥10,219.88
CN¥18,970.88
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥18,970.88 / 523.12
CN¥36.27
XSSC:600612 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥36.27
Current discount Discount to share price of CN¥49.23
= -1 x (CN¥49.23 - CN¥36.27) / CN¥36.27
-35.8%

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

  • The current share price of Lao Feng Xiang 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 Lao Feng Xiang's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Lao Feng Xiang's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XSSC:600612 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥2.64
SHSE:600612 Share Price ** SHSE (2019-12-05) in CNY CN¥49.23
China Luxury Industry PE Ratio Median Figure of 81 Publicly-Listed Luxury Companies 22.97x
China Market PE Ratio Median Figure of 2,996 Publicly-Listed Companies 30.32x

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

** Primary Listing of Lao Feng Xiang.

XSSC:600612 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:600612 Share Price ÷ EPS (both in CNY)

= 49.23 ÷ 2.64

18.63x

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

  • Lao Feng Xiang is good value based on earnings compared to the CN Luxury industry average.
  • Lao Feng Xiang is good value based on earnings compared to the China market.
Price based on expected Growth
Does Lao Feng Xiang's expected growth come at a high price?
Raw Data
XSSC:600612 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
14.6%per year
China Luxury Industry PEG Ratio Median Figure of 41 Publicly-Listed Luxury Companies 1.08x
China Market PEG Ratio Median Figure of 1,261 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

XSSC:600612 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.63x ÷ 14.6%

1.28x

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

  • Lao Feng Xiang is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Lao Feng Xiang's assets?
Raw Data
XSSC:600612 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥12.96
SHSE:600612 Share Price * SHSE (2019-12-05) in CNY CN¥49.23
China Luxury Industry PB Ratio Median Figure of 96 Publicly-Listed Luxury Companies 1.72x
China Market PB Ratio Median Figure of 3,603 Publicly-Listed Companies 2.22x
XSSC:600612 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:600612 Share Price ÷ Book Value per Share (both in CNY)

= 49.23 ÷ 12.96

3.8x

* Primary Listing of Lao Feng Xiang.

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

  • Lao Feng Xiang is overvalued based on assets compared to the CN Luxury industry average.
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Value checks
We assess Lao Feng Xiang'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 Luxury 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 Luxury industry average (and greater than 0)? (1 check)
  5. Lao Feng Xiang 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.

600612 Future Performance

 How is Lao Feng Xiang expected to perform in the next 1 to 3 years based on estimates from 4 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
14.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Lao Feng Xiang expected to grow at an attractive rate?
  • Lao Feng Xiang's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • Lao Feng Xiang's earnings growth is positive but not above the China market average.
  • Lao Feng Xiang's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
XSSC:600612 Future Growth Rates Data Sources
Data Point Source Value (per year)
XSSC:600612 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 14.6%
XSSC:600612 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 10.1%
China Luxury Industry Earnings Growth Rate Market Cap Weighted Average 21.6%
China Luxury Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
China Market Earnings Growth Rate Market Cap Weighted Average 20.8%
China Market Revenue Growth Rate Market Cap Weighted Average 15.4%

*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:600612 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XSSC:600612 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 61,780 1,996 1,901 2
2020-12-31 54,694 1,722 1,644 4
2019-12-31 50,440 3,449 1,426 2
2019-12-08
XSSC:600612 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 49,408 -1,677 1,382
2019-06-30 46,640 821 1,294
2019-03-31 44,665 -1,018 1,244
2018-12-31 43,784 -371 1,205
2018-09-30 43,348 1,294 1,227
2018-06-30 42,167 1,475 1,203
2018-03-31 40,972 401 1,159
2017-12-31 39,810 1,248 1,136
2017-09-30 39,369 1,152 1,151
2017-06-30 37,631 833 1,117
2017-03-31 36,572 1,500 1,127
2016-12-31 34,964 -979 1,057

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Lao Feng Xiang's earnings are expected to grow by 14.6% yearly, however this is not considered high growth (20% yearly).
  • Lao Feng Xiang's revenue is expected to grow by 10.1% 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:600612 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Lao Feng Xiang Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600612 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.64 3.81 3.46 2.00
2020-12-31 3.14 3.33 3.04 4.00
2019-12-31 2.73 2.78 2.70 4.00
2019-12-08
XSSC:600612 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 2.64
2019-06-30 2.47
2019-03-31 2.38
2018-12-31 2.30
2018-09-30 2.35
2018-06-30 2.30
2018-03-31 2.22
2017-12-31 2.17
2017-09-30 2.20
2017-06-30 2.14
2017-03-31 2.15
2016-12-31 2.02

*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.
  • Lao Feng Xiang is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
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Future performance checks
We assess Lao Feng Xiang'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.
Lao Feng Xiang has a total score of 2/6, 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.

600612 Past Performance

  How has Lao Feng Xiang 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 Lao Feng Xiang's growth in the last year to its industry (Luxury).
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.
  • Lao Feng Xiang's year on year earnings growth rate has been positive over the past 5 years.
  • Lao Feng Xiang's 1-year earnings growth exceeds its 5-year average (12.7% vs 5.8%)
  • Lao Feng Xiang's earnings growth has exceeded the CN Luxury industry average in the past year (12.7% vs -1.5%).
Earnings and Revenue History
Lao Feng Xiang'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 Lao Feng Xiang Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XSSC:600612 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 49,408.42 1,382.49 1,317.63 22.20
2019-06-30 46,640.35 1,293.77 1,239.34 23.48
2019-03-31 44,664.67 1,244.41 1,194.14 20.06
2018-12-31 43,784.47 1,204.54 1,168.73 20.35
2018-09-30 43,348.06 1,227.12 1,172.59 13.94
2018-06-30 42,167.22 1,203.49 1,167.59 19.46
2018-03-31 40,972.50 1,159.26 1,119.97 16.23
2017-12-31 39,809.98 1,136.20 1,121.10 12.62
2017-09-30 39,368.50 1,151.09 1,117.88 12.77
2017-06-30 37,631.46 1,117.18 1,138.64
2017-03-31 36,571.67 1,127.00 1,122.32
2016-12-31 34,963.78 1,057.49 1,088.41
2016-09-30 34,850.67 1,119.94 1,088.26
2016-06-30 34,936.66 1,104.61 1,035.28
2016-03-31 35,024.94 1,068.10 1,065.42
2015-12-31 35,712.37 1,117.35 981.93
2015-09-30 35,516.60 1,015.15 964.30
2015-06-30 35,477.92 1,053.84 922.49
2015-03-31 34,767.11 993.46 894.71
2014-12-31 32,835.02 939.90 973.35
2014-09-30 32,523.65 982.63 994.16
2014-06-30 33,166.61 920.31 1,049.98
2014-03-31 34,004.60 913.99 1,012.30
2013-12-31 32,984.66 889.85 932.48
2013-09-30 31,916.79 730.66 862.24
2013-06-30 30,275.56 689.08 841.41
2013-03-31 27,447.30 655.98 803.56
2012-12-31 25,553.40 611.31 740.54

*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.
  • Whilst Lao Feng Xiang has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Lao Feng Xiang used its assets more efficiently than the CN Luxury industry average last year based on Return on Assets.
  • Lao Feng Xiang's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Lao Feng Xiang'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 Luxury 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.
Lao Feng Xiang has a total score of 4/6, 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.

600612 Health

 How is Lao Feng Xiang'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 Lao Feng Xiang's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Lao Feng Xiang is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Lao Feng Xiang's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Lao Feng Xiang'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 2.2x 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 Lao Feng Xiang Company Filings, last reported 2 months ago.

XSSC:600612 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 8,051.77 8,086.68 5,422.69
2019-06-30 8,077.22 6,689.53 8,174.77
2019-03-31 7,881.44 7,886.68 5,727.52
2018-12-31 7,384.67 5,707.70 4,860.02
2018-09-30 7,204.83 5,584.76 5,337.97
2018-06-30 7,330.01 5,025.18 6,373.55
2018-03-31 7,185.99 4,583.02 4,421.80
2017-12-31 6,713.64 3,921.86 4,437.38
2017-09-30 6,461.53 4,570.51 4,037.17
2017-06-30 6,560.64 4,535.89 5,350.00
2017-03-31 6,449.31 4,711.96 5,067.21
2016-12-31 6,023.91 4,810.89 4,941.79
2016-09-30 5,696.37 4,753.93 3,976.66
2016-06-30 5,840.54 3,207.53 4,088.63
2016-03-31 5,720.14 3,716.44 3,399.99
2015-12-31 5,426.65 2,833.31 4,839.72
2015-09-30 5,021.27 2,790.41 3,245.85
2015-06-30 5,162.95 3,016.82 5,380.85
2015-03-31 4,856.60 3,661.94 4,992.24
2014-12-31 4,629.38 2,939.31 4,712.90
2014-09-30 4,236.63 3,304.39 3,190.00
2014-06-30 4,264.55 2,722.00 4,068.25
2014-03-31 4,162.64 3,348.00 3,530.00
2013-12-31 3,868.40 2,779.00 2,835.84
2013-09-30 3,572.13 3,293.00 2,480.85
2013-06-30 3,571.34 3,030.00 3,955.04
2013-03-31 3,446.11 3,241.00 2,304.45
2012-12-31 3,177.07 2,699.00 1,922.73
  • Lao Feng Xiang's level of debt (100.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (77.8% vs 100.4% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 16.9x coverage).
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Financial health checks
We assess Lao Feng Xiang'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. Lao Feng Xiang has a total score of 3/6, 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.

600612 Dividends

 What is Lao Feng Xiang'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
2.23%
Current annual income from Lao Feng Xiang dividends. Estimated to be 2.1% next year.
If you bought CN¥2,000 of Lao Feng Xiang shares you are expected to receive CN¥45 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?
  • Lao Feng Xiang's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.48%).
  • Lao Feng Xiang's dividend is above the markets top 25% of dividend payers in China (1.96%).
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:600612 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 4 Analyst Estimates (S&P Global) See Below
China Luxury Industry Average Dividend Yield Market Cap Weighted Average of 70 Stocks 3.2%
China Market Average Dividend Yield Market Cap Weighted Average of 2577 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:600612 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.84 1.00
2020-12-31 1.11 3.00
2019-12-31 1.02 3.00
2019-12-08
XSSC:600612 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-08-06 1.100 2.178
2018-07-09 1.050 2.667
2017-07-10 1.000 2.433
2016-04-27 0.960 2.316
2015-08-03 0.900 2.101
2014-07-09 0.860 2.397
2013-08-01 0.600 2.530
2012-10-25 0.083 0.406
2012-04-25 0.083 0.395
2011-10-28 0.000 0.000
2011-10-17 0.000 0.000
2011-08-26 0.000 0.000
2011-04-26 0.000 0.000
2011-03-03 0.000 0.000
2010-05-06 0.128 0.677
2010-03-12 0.128 0.560
2010-03-08 0.128 0.568
2009-04-22 0.064 0.436

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Lao Feng Xiang's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x 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 Lao Feng Xiang'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 Lao Feng Xiang afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Lao Feng Xiang has a total score of 4/6, see the detailed checks below.


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

600612 Management

 What is the CEO of Lao Feng Xiang'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
Yi Ping Tang
COMPENSATION CN¥928,357
AGE 61
CEO Bio

Mr. Yi Ping Tang serves as the Chairman of Shanghai Arts and Crafts Co., Ltd. Mr. Tang serves as Vice Chairman and General Manager at Lao Feng Xiang Co., Ltd.

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

Yi Ping Tang

TITLE
Vice Chairman of the Board of Directors and General Manager
COMPENSATION
CN¥928K
AGE
61

Hua Huang

TITLE
Chief Financial Officer
COMPENSATION
CN¥926K
AGE
48

Gang Chang Li

TITLE
Deputy General Manager
COMPENSATION
CN¥2M
AGE
59

Yong Zhong Wang

TITLE
Deputy General Manager
COMPENSATION
CN¥888K
AGE
46

Xin Yi Zhang

TITLE
Chief Technician and Director of the Technology Innovation Management Center
COMPENSATION
CN¥2M
AGE
59

Fu Liang Zhou

TITLE
Director of the Office of Directors and Secretary of the Board of Directors
COMPENSATION
CN¥478K
AGE
58

Zhi Hong Xin

TITLE
Market Director
COMPENSATION
CN¥2M
AGE
63
Board of Directors

Li Hua Shi

TITLE
Chairman of the Board of Directors
COMPENSATION
CN¥928K
AGE
61

Yi Ping Tang

TITLE
Vice Chairman of the Board of Directors and General Manager
COMPENSATION
CN¥928K
AGE
61

Hui Ling Zang

TITLE
Vice Chairman of the Board of Directors
COMPENSATION
CN¥716K
AGE
54

Hua Huang

TITLE
Chief Financial Officer
COMPENSATION
CN¥926K
AGE
48

Wei Min Wang

TITLE
Chairman of the Supervisory Board
AGE
62

Liang Shi

TITLE
Vice Chairman of the Supervisory Board
COMPENSATION
CN¥1M
AGE
56

Hua Zu Tao

TITLE
Independent Director
COMPENSATION
CN¥60K
AGE
65

Wei Mao Zheng

TITLE
Independent Director
COMPENSATION
CN¥60K
AGE
54

Wei Zhu

TITLE
Member of the Supervisory Board
COMPENSATION
CN¥160K
AGE
46

Dong Ming Cao

TITLE
Employee Representative Member of the Supervisory Board
COMPENSATION
CN¥263K
AGE
51
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 Lao Feng Xiang'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. Lao Feng Xiang 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.

600612 News

Simply Wall St News

600612 Company Info

Description

Lao Feng Xiang Co., Ltd. operates in the jewelry industry in the People's Republic of China and internationally. It researches, develops, designs, produces, and sells gold, silver, platinum, diamonds, jade, pearls, gold inlays, colored gemstones, enamel, red coral, and other jewelry, as well as dental carvings, K gold glasses, and travel craft souvenirs. The company was formerly known as China First Pencil Co., Ltd. and changed its name to Lao Feng Xiang Co., Ltd. in July 2009. Lao Feng Xiang Co., Ltd. was founded in 1848 and is based in Shanghai, the People's Republic of China.

Details
Name: Lao Feng Xiang Co., Ltd.
600612
Exchange: XSSC
Founded: 1848
CN¥20,679,315,627
523,117,764
Website: http://www.laofengxiang.com
Address: Lao Feng Xiang Co., Ltd.
Building 1,
6th Floor,
Shanghai,
200235,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 600612 Domestic Shares Shanghai Stock Exchange CN CNY 22. Feb 1994
XSSC 600612 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 22. Feb 1994
SHSE 900905 Foreign Shares-Domestically Listed Shanghai Stock Exchange CN USD 15. Sep 1992
Number of employees
Current staff
Staff numbers
2,504
Lao Feng Xiang employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/08 15:29
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/10/28
Last earnings filing: 2019/10/27
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.