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Laobaixing Pharmacy Chain

SHSE:603883
Snowflake Description

High growth potential with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
603883
SHSE
CN¥24B
Market Cap
  1. Home
  2. CN
  3. Consumer Retailing
Company description

Laobaixing Pharmacy Chain Joint Stock Company operates pharmacy store chain in China. The last earnings update was 161 days ago. More info.


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603883 Share Price and Events
7 Day Returns
5.7%
SHSE:603883
3.6%
CN Consumer Retailing
4.3%
CN Market
1 Year Returns
39.9%
SHSE:603883
16%
CN Consumer Retailing
-7%
CN Market
603883 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Laobaixing Pharmacy Chain (603883) 5.7% 10.6% 23% 39.9% 95% -
CN Consumer Retailing 3.6% 6% 15.2% 16% 15.5% -2.4%
CN Market 4.3% -4.8% -5.1% -7% -13.6% -24.6%
1 Year Return vs Industry and Market
  • 603883 outperformed the Consumer Retailing industry which returned 16% over the past year.
  • 603883 outperformed the Market in China which returned -7% over the past year.
Price Volatility
603883
Industry
5yr Volatility vs Market

603883 Value

 Is Laobaixing Pharmacy Chain 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 Laobaixing Pharmacy Chain 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 Laobaixing Pharmacy Chain.

SHSE:603883 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year CN Government Bond Rate 3.2%

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

Calculation of Discount Rate/ Cost of Equity for SHSE:603883
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.39
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.393 (1 + (1- 25%) (5.42%))
0.604
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (0.8 * 6.33%)
8.26%

Discounted Cash Flow Calculation for SHSE:603883 using 2 Stage Free Cash Flow to Equity Model

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

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

SHSE:603883 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.26%)
2020 518.14 Est @ 32.91% 478.59
2021 642.49 Est @ 24% 548.14
2022 756.58 Est @ 17.76% 596.22
2023 857.90 Est @ 13.39% 624.45
2024 946.55 Est @ 10.33% 636.39
2025 1,024.10 Est @ 8.19% 635.97
2026 1,092.67 Est @ 6.7% 626.76
2027 1,154.37 Est @ 5.65% 611.61
2028 1,211.09 Est @ 4.91% 592.68
2029 1,264.36 Est @ 4.4% 571.52
Present value of next 10 years cash flows CN¥5,922.00
SHSE:603883 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥1,264.36 × (1 + 3.2%) ÷ (8.26% – 3.2%)
CN¥25,766.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥25,766.62 ÷ (1 + 8.26%)10
CN¥11,647.07
SHSE:603883 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥5,922.00 + CN¥11,647.07
CN¥17,569.07
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥17,569.07 / 284.98
CN¥61.65
SHSE:603883 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥61.65
Current discount Discount to share price of CN¥83.16
= -1 x (CN¥83.16 - CN¥61.65) / CN¥61.65
-34.9%

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

  • The current share price of Laobaixing Pharmacy Chain 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 Laobaixing Pharmacy Chain's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Laobaixing Pharmacy Chain's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SHSE:603883 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥1.77
SHSE:603883 Share Price ** SHSE (2020-04-09) in CNY CN¥83.16
China Consumer Retailing Industry PE Ratio Median Figure of 20 Publicly-Listed Consumer Retailing Companies 43.51x
China Market PE Ratio Median Figure of 3,204 Publicly-Listed Companies 33.67x

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

** Primary Listing of Laobaixing Pharmacy Chain.

SHSE:603883 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SHSE:603883 Share Price ÷ EPS (both in CNY)

= 83.16 ÷ 1.77

47.07x

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

  • Laobaixing Pharmacy Chain is overvalued based on earnings compared to the CN Consumer Retailing industry average.
  • Laobaixing Pharmacy Chain is overvalued based on earnings compared to the China market.
Price based on expected Growth
Does Laobaixing Pharmacy Chain's expected growth come at a high price?
Raw Data
SHSE:603883 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 47.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
23.1%per year
China Consumer Retailing Industry PEG Ratio Median Figure of 14 Publicly-Listed Consumer Retailing Companies 2.17x
China Market PEG Ratio Median Figure of 1,266 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

SHSE:603883 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 47.07x ÷ 23.1%

2.04x

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

  • Laobaixing Pharmacy Chain is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Laobaixing Pharmacy Chain's assets?
Raw Data
SHSE:603883 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥11.81
SHSE:603883 Share Price * SHSE (2020-04-09) in CNY CN¥83.16
China Consumer Retailing Industry PB Ratio Median Figure of 21 Publicly-Listed Consumer Retailing Companies 2.95x
China Market PB Ratio Median Figure of 3,693 Publicly-Listed Companies 2.35x
SHSE:603883 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SHSE:603883 Share Price ÷ Book Value per Share (both in CNY)

= 83.16 ÷ 11.81

7.04x

* Primary Listing of Laobaixing Pharmacy Chain.

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

  • Laobaixing Pharmacy Chain is overvalued based on assets compared to the CN Consumer Retailing industry average.
X
Value checks
We assess Laobaixing Pharmacy Chain'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 Consumer Retailing 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 Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Laobaixing Pharmacy Chain has a total score of 0/6, 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.

603883 Future Performance

 How is Laobaixing Pharmacy Chain expected to perform in the next 1 to 3 years based on estimates from 9 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
23.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Laobaixing Pharmacy Chain expected to grow at an attractive rate?
  • Laobaixing Pharmacy Chain's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • Laobaixing Pharmacy Chain's earnings growth is expected to exceed the China market average.
  • Laobaixing Pharmacy Chain's revenue growth is expected to exceed the China market average.
Annual Growth Rates Comparison
Raw Data
SHSE:603883 Future Growth Rates Data Sources
Data Point Source Value (per year)
SHSE:603883 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 23.1%
SHSE:603883 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 22.7%
China Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 22.2%
China Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 17.2%
China Market Earnings Growth Rate Market Cap Weighted Average 20.7%
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
SHSE:603883 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SHSE:603883 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 18,163 1,125 832 8
2020-12-31 14,650 1,052 664 9
2020-04-09
2019-12-31 11,812 884 536 9
SHSE:603883 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 11,069 1,033 505
2019-06-30 10,567 990 484
2019-03-31 9,988 883 464
2018-12-31 9,471 913 435
2018-09-30 9,015 559 421
2018-06-30 8,484 568 401
2018-03-31 7,984 518 388
2017-12-31 7,501 498 371
2017-09-30 7,036 609 363
2017-06-30 6,780 413 343
2017-03-31 6,494 420 331
2016-12-31 6,094 313 297

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Laobaixing Pharmacy Chain's earnings are expected to grow significantly at over 20% yearly.
  • Laobaixing Pharmacy Chain's revenue is expected to grow significantly at over 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
SHSE:603883 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 9 Analyst Estimates (S&P Global) See Below

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

SHSE:603883 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.90 3.12 2.74 8.00
2020-12-31 2.31 2.42 2.24 10.00
2020-04-09
2019-12-31 1.87 1.91 1.82 10.00
SHSE:603883 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 1.77
2019-06-30 1.70
2019-03-31 1.63
2018-12-31 1.53
2018-09-30 1.49
2018-06-30 1.44
2018-03-31 1.43
2017-12-31 1.38
2017-09-30 1.36
2017-06-30 1.29
2017-03-31 1.23
2016-12-31 1.11

*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.
  • Laobaixing Pharmacy Chain is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Laobaixing Pharmacy Chain'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.
Laobaixing Pharmacy Chain has a total score of 5/6, 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.

603883 Past Performance

  How has Laobaixing Pharmacy Chain 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 Laobaixing Pharmacy Chain's growth in the last year to its industry (Consumer Retailing).
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.
  • Laobaixing Pharmacy Chain's year on year earnings growth rate has been positive over the past 5 years.
  • Laobaixing Pharmacy Chain's 1-year earnings growth exceeds its 5-year average (19.8% vs 19.4%)
  • Laobaixing Pharmacy Chain's earnings growth has not exceeded the CN Consumer Retailing industry average in the past year (19.8% vs 24%).
Earnings and Revenue History
Laobaixing Pharmacy Chain'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 Laobaixing Pharmacy Chain Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SHSE:603883 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 11,068.83 504.65 3,005.15 0.46
2019-06-30 10,567.36 483.89 2,901.90 6.23
2019-03-31 9,987.77 463.93 2,764.46 6.23
2018-12-31 9,471.09 435.04 2,663.50 6.23
2018-09-30 9,014.63 421.08 2,526.71 6.77
2018-06-30 8,484.28 400.75 2,391.95 1.00
2018-03-31 7,983.62 388.01 2,258.85 1.00
2017-12-31 7,501.43 370.80 2,115.18 1.00
2017-09-30 7,035.65 363.02 1,979.19
2017-06-30 6,779.61 343.37 1,900.87
2017-03-31 6,494.13 331.16 1,829.37
2016-12-31 6,094.43 296.90 1,747.73
2016-09-30 5,673.26 284.69 1,626.60
2016-06-30 5,249.82 264.97 1,525.53
2016-03-31 4,849.81 253.95 1,415.30
2015-12-31 4,568.48 240.50 1,336.58
2015-09-30 4,331.09 225.60 1,273.81
2015-06-30 4,178.22 217.83 1,222.06
2015-03-31 4,063.25 212.30 1,172.20
2014-12-31 3,942.88 202.38 1,125.74
2013-12-31 3,321.29 160.72 896.36

*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.
  • Laobaixing Pharmacy Chain has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Laobaixing Pharmacy Chain used its assets more efficiently than the CN Consumer Retailing industry average last year based on Return on Assets.
  • Laobaixing Pharmacy Chain has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Laobaixing Pharmacy Chain'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 Consumer Retailing 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.
Laobaixing Pharmacy Chain 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.

603883 Health

 How is Laobaixing Pharmacy Chain'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 Laobaixing Pharmacy Chain's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Laobaixing Pharmacy Chain's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Laobaixing Pharmacy Chain's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Laobaixing Pharmacy Chain'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 3.7x 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 Laobaixing Pharmacy Chain Company Filings, last reported 6 months ago.

SHSE:603883 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 3,711.38 1,285.07 1,327.87
2019-06-30 3,722.68 2,071.28 1,570.65
2019-03-31 3,583.86 1,711.75 1,187.60
2018-12-31 3,369.33 1,706.52 1,135.93
2018-09-30 3,199.68 1,541.10 1,069.59
2018-06-30 3,076.89 1,259.86 1,166.75
2018-03-31 3,242.12 1,067.32 1,258.15
2017-12-31 3,101.11 1,073.79 1,364.08
2017-09-30 2,168.11 1,482.95 1,100.47
2017-06-30 2,079.36 1,382.53 960.64
2017-03-31 2,068.30 1,264.52 842.73
2016-12-31 1,945.33 1,272.41 846.64
2016-09-30 2,270.08 807.49 699.53
2016-06-30 2,406.93 427.70 781.43
2016-03-31 2,380.36 240.00 855.62
2015-12-31 2,292.00 100.00 796.40
2015-09-30 2,205.11 0.00 914.84
2015-06-30 2,213.06 0.00 1,172.87
2015-03-31 1,161.19 313.04 452.36
2014-12-31 1,085.64 346.31 476.44
2013-12-31 916.46 311.62 391.00
  • Laobaixing Pharmacy Chain's level of debt (34.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (32.4% vs 34.6% today).
  • Debt is well covered by operating cash flow (80.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.4x coverage).
X
Financial health checks
We assess Laobaixing Pharmacy Chain'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. Laobaixing Pharmacy Chain has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

603883 Dividends

 What is Laobaixing Pharmacy Chain'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
0.6%
Current annual income from Laobaixing Pharmacy Chain dividends. Estimated to be 0.83% next year.
If you bought CN¥2,000 of Laobaixing Pharmacy Chain shares you are expected to receive CN¥12 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?
  • Laobaixing Pharmacy Chain's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.44%).
  • Laobaixing Pharmacy Chain's dividend is below 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
SHSE:603883 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 9 Analyst Estimates (S&P Global) See Below
China Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 0.9%
China Market Average Dividend Yield Market Cap Weighted Average of 2584 Stocks 1.9%
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 2%

Industry and Market average data is calculated daily.

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

SHSE:603883 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.74 4.00
2020-12-31 0.66 5.00
2020-04-09
2019-12-31 0.62 2.00
SHSE:603883 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-29 0.500 0.748
2018-05-10 1.000 1.653
2017-06-12 0.300 0.539
2016-05-10 0.300 0.639

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

  • Laobaixing Pharmacy Chain has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Laobaixing Pharmacy Chain only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Laobaixing Pharmacy Chain's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
X
Income/ dividend checks
We assess Laobaixing Pharmacy Chain'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 Laobaixing Pharmacy Chain afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Laobaixing Pharmacy Chain 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.

603883 Management

 What is the CEO of Laobaixing Pharmacy Chain'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
Feng Hicks
AGE 58
CEO Bio

Mr. Feng Hicks serves as the Chief Executive Officer of Laobaixing Pharmacy Chain Joint Stock Company (alternate name: Hunan Laobaixing Medicine Retailer Chain Co. Ltd.).

CEO Compensation
  • Insufficient data for Feng to compare compensation growth.
  • Insufficient data for Feng to establish whether their remuneration is reasonable compared to companies of similar size in China.
Management Team

Jingyu Zhu

TITLE
Financial Manager
COMPENSATION
CN¥258K
AGE
44

Yu Zhang

TITLE
Secretary of the Board
COMPENSATION
CN¥502K
AGE
45
TENURE
5.9 yrs

Yong Yu

TITLE
Vice President
COMPENSATION
CN¥844K
AGE
41

Liu Wu

TITLE
Vice President
COMPENSATION
CN¥1M
AGE
49
TENURE
4.1 yrs

Li Wang

TITLE
General Manager of the Strategic Investment Center & Executive Director
COMPENSATION
CN¥943K
AGE
37

Jianhui Hu

TITLE
Vice President
COMPENSATION
CN¥630K
AGE
44

Feng Hicks

TITLE
Chief Executive Officer
AGE
58

Xia Guang Zhou

TITLE
Head of the Human Resource Department & Employee Representative of the Supervisory Board
AGE
41
Board of Directors Tenure

Average tenure and age of the Laobaixing Pharmacy Chain board of directors in years:

7.5
Average Tenure
51.5
Average Age
  • The tenure for the Laobaixing Pharmacy Chain board of directors is about average.
Board of Directors

Zi Long Xie

TITLE
Chairman
COMPENSATION
CN¥2M
AGE
53
TENURE
6 yrs

Li Wang

TITLE
General Manager of the Strategic Investment Center & Executive Director
COMPENSATION
CN¥943K
AGE
37

Xia Guang Zhou

TITLE
Head of the Human Resource Department & Employee Representative of the Supervisory Board
AGE
41

Hao Wen Zhang

TITLE
Chairman of the Supervisory Board
AGE
38

Yang Haiyu

TITLE
Independent Director
AGE
57
TENURE
6 yrs

Kun Mo

TITLE
Director
AGE
45
TENURE
9 yrs

Bjarne Mumm

TITLE
Director
COMPENSATION
CN¥119K
AGE
68
TENURE
9 yrs

Zhang Yang

TITLE
Independent Director
COMPENSATION
CN¥119K
AGE
59
TENURE
6 yrs

Jia Yao Xu

TITLE
Independent Director
COMPENSATION
CN¥119K
AGE
50
TENURE
9 yrs

Amit Kakar

TITLE
Director
COMPENSATION
CN¥119K
AGE
55
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 Laobaixing Pharmacy Chain'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. Laobaixing Pharmacy Chain 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.

603883 News

Simply Wall St News

603883 Company Info

Description

Laobaixing Pharmacy Chain Joint Stock Company operates pharmacy store chain in China. The company operates stores in 21 provincial markets, including Hunan, Jiangsu, Gansu, Shaanxi, Guangxi, Anhui, Zhejiang, Inner Mongolia, Hubei, Tianjin, Henan, Shanghai, Shandong, Guangdong, Hebei, Beijing, Jiangxi, Ningxia, Sichuan, Fujian, and Guizhou. Laobaixing Pharmacy Chain Joint Stock Company was founded in 2001 and is based in Changsha, China.

Details
Name: Laobaixing Pharmacy Chain Joint Stock Company
603883
Exchange: SHSE
Founded: 2001
CN¥23,699,220,625
284,983,413
Website: http://www.lbxdrugs.com
Address: Laobaixing Pharmacy Chain Joint Stock Company
No. 1 (Xingsha) Kaiyuanxi Road,
Economic & Technological Development Zone,
Changsha,
Hunan Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SHSE 603883 Domestic Shares Shanghai Stock Exchange CN CNY 23. Apr 2015
XSSC 603883 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 23. Apr 2015
Number of employees
Current staff
Staff numbers
0
Laobaixing Pharmacy Chain employees.
Industry
Drug Retail
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 18:24
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2020/02/27
Last earnings filing: 2019/10/31
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.