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Tangshan Jidong CementLtd

SZSE:000401
Snowflake Description

Very undervalued with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
000401
SZSE
CN¥25B
Market Cap
  1. Home
  2. CN
  3. Materials
Company description

Tangshan Jidong Cement Co.,Ltd. produces and sells in China. The last earnings update was 18 days ago. More info.


Add to Portfolio Compare Print
  • Tangshan Jidong CementLtd has significant price volatility in the past 3 months.
000401 Share Price and Events
7 Day Returns
-5.6%
SZSE:000401
-2.1%
CN Basic Materials
-0.1%
CN Market
1 Year Returns
-6.3%
SZSE:000401
-2.8%
CN Basic Materials
-9.3%
CN Market
000401 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tangshan Jidong CementLtd (000401) -5.6% -6.3% 11.4% -6.3% -7.7% -1.3%
CN Basic Materials -2.1% -7.7% -0.7% -2.8% -5.2% -3.8%
CN Market -0.1% -10.6% -6.3% -9.3% -16.2% -26.5%
1 Year Return vs Industry and Market
  • 000401 underperformed the Basic Materials industry which returned -2.8% over the past year.
  • 000401 outperformed the Market in China which returned -9.3% over the past year.
Price Volatility
000401
Industry
5yr Volatility vs Market

Value

 Is Tangshan Jidong CementLtd 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 Tangshan Jidong CementLtd 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 Tangshan Jidong CementLtd.

SZSE:000401 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.6%
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 SZSE:000401
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CN Govt Bond Rate 3.2%
Equity Risk Premium S&P Global 6.3%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.806 (1 + (1- 25%) (73.99%))
1.17
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.17
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.2% + (1.17 * 6.33%)
10.6%

Discounted Cash Flow Calculation for SZSE:000401 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tangshan Jidong CementLtd 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.

SZSE:000401 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.6%)
2020 7,567.08 Est @ 4.16% 6,841.56
2021 7,860.24 Est @ 3.87% 6,425.26
2022 8,148.87 Est @ 3.67% 6,022.54
2023 8,436.56 Est @ 3.53% 5,637.35
2024 8,726.04 Est @ 3.43% 5,271.74
2025 9,019.40 Est @ 3.36% 4,926.54
2026 9,318.24 Est @ 3.31% 4,601.78
2027 9,623.81 Est @ 3.28% 4,297.01
2028 9,937.12 Est @ 3.26% 4,011.50
2029 10,258.97 Est @ 3.24% 3,744.36
Present value of next 10 years cash flows CN¥51,779.00
SZSE:000401 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥10,258.97 × (1 + 3.2%) ÷ (10.6% – 3.2%)
CN¥142,984.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥142,984.91 ÷ (1 + 10.6%)10
CN¥52,187.19
SZSE:000401 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥51,779.00 + CN¥52,187.19
CN¥103,966.19
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥103,966.19 / 1,347.52
CN¥77.15
SZSE:000401 Discount to Share Price
Calculation Result
Value per share (CNY) From above. CN¥77.15
Current discount Discount to share price of CN¥18.90
= -1 x (CN¥18.90 - CN¥77.15) / CN¥77.15
75.5%

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

Current Discount
Amount off the current price Tangshan Jidong CementLtd is available for.
Intrinsic value
>50%
Share price is CN¥18.9 vs Future cash flow value of CN¥77.15
Current Discount Checks
For Tangshan Jidong CementLtd to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tangshan Jidong CementLtd's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tangshan Jidong CementLtd'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 Tangshan Jidong CementLtd's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tangshan Jidong CementLtd's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SZSE:000401 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥1.85
SZSE:000401 Share Price ** SZSE (2020-04-03) in CNY CN¥18.9
China Basic Materials Industry PE Ratio Median Figure of 31 Publicly-Listed Basic Materials Companies 14.83x
China Market PE Ratio Median Figure of 3,197 Publicly-Listed Companies 32.34x

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

** Primary Listing of Tangshan Jidong CementLtd.

SZSE:000401 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SZSE:000401 Share Price ÷ EPS (both in CNY)

= 18.9 ÷ 1.85

10.2x

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

  • Tangshan Jidong CementLtd is good value based on earnings compared to the CN Basic Materials industry average.
  • Tangshan Jidong CementLtd is good value based on earnings compared to the China market.
Price based on expected Growth
Does Tangshan Jidong CementLtd's expected growth come at a high price?
Raw Data
SZSE:000401 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
10.3%per year
China Basic Materials Industry PEG Ratio Median Figure of 16 Publicly-Listed Basic Materials Companies 1.01x
China Market PEG Ratio Median Figure of 1,273 Publicly-Listed Companies 1.27x

*Line of best fit is calculated by linear regression .

SZSE:000401 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.2x ÷ 10.3%

0.99x

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

  • Tangshan Jidong CementLtd is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Tangshan Jidong CementLtd's assets?
Raw Data
SZSE:000401 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥11.39
SZSE:000401 Share Price * SZSE (2020-04-03) in CNY CN¥18.9
China Basic Materials Industry PB Ratio Median Figure of 35 Publicly-Listed Basic Materials Companies 1.88x
China Market PB Ratio Median Figure of 3,691 Publicly-Listed Companies 2.26x
SZSE:000401 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SZSE:000401 Share Price ÷ Book Value per Share (both in CNY)

= 18.9 ÷ 11.39

1.66x

* Primary Listing of Tangshan Jidong CementLtd.

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

  • Tangshan Jidong CementLtd is good value based on assets compared to the CN Basic Materials industry average.
X
Value checks
We assess Tangshan Jidong CementLtd'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 Basic Materials 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 Basic Materials industry average (and greater than 0)? (1 check)
  5. Tangshan Jidong CementLtd has a total score of 6/6, see the detailed checks below.

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

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

Future Performance

 How is Tangshan Jidong CementLtd expected to perform in the next 1 to 3 years based on estimates from 6 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
10.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tangshan Jidong CementLtd expected to grow at an attractive rate?
  • Tangshan Jidong CementLtd's earnings growth is expected to exceed the low risk savings rate of 3.2%.
Growth vs Market Checks
  • Tangshan Jidong CementLtd's earnings growth is positive but not above the China market average.
  • Tangshan Jidong CementLtd's revenue growth is positive but not above the China market average.
Annual Growth Rates Comparison
Raw Data
SZSE:000401 Future Growth Rates Data Sources
Data Point Source Value (per year)
SZSE:000401 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 10.3%
SZSE:000401 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 4.7%
China Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 14%
China Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 11%
China Market Earnings Growth Rate Market Cap Weighted Average 20.9%
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
SZSE:000401 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SZSE:000401 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 39,387 9,038 3,699 3
2021-12-31 38,711 9,229 3,620 6
2020-12-31 36,703 7,689 3,391 5
2020-04-06
SZSE:000401 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 34,507 8,219 2,701
2019-09-30 34,469 8,439 2,137
2019-06-30 34,083 7,671 2,043
2019-03-31 32,467 5,924 2,110
2018-12-31 31,448 7,782 1,904
2018-09-30 28,573 3,639 1,653
2018-06-30 26,708 5,300 1,340
2018-03-31 26,799 4,586 291
2017-12-31 25,168 3,527 504
2017-09-30 22,487 4,098 1,173
2017-06-30 18,379 1,993 1,065
2017-03-31 12,654 2,941 489

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tangshan Jidong CementLtd's earnings are expected to grow by 10.3% yearly, however this is not considered high growth (20% yearly).
  • Tangshan Jidong CementLtd's revenue is expected to grow by 4.7% 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
SZSE:000401 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Tangshan Jidong CementLtd Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SZSE:000401 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 2.75 3.10 2.16 3.00
2021-12-31 2.69 2.97 2.16 6.00
2020-12-31 2.52 2.77 2.06 6.00
2020-04-06
SZSE:000401 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 1.85
2019-09-30 1.51
2019-06-30 1.46
2019-03-31 1.56
2018-12-31 1.41
2018-09-30 1.23
2018-06-30 0.99
2018-03-31 0.22
2017-12-31 0.37
2017-09-30 0.89
2017-06-30 0.81
2017-03-31 0.37

*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.
  • Tangshan Jidong CementLtd is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Tangshan Jidong CementLtd'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.
Tangshan Jidong CementLtd 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.

Past Performance

  How has Tangshan Jidong CementLtd 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 Tangshan Jidong CementLtd's growth in the last year to its industry (Basic Materials).
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.
  • Tangshan Jidong CementLtd has delivered over 20% year on year earnings growth in the past 5 years.
  • Tangshan Jidong CementLtd's 1-year earnings growth is less than its 5-year average (41.9% vs 58.3%)
  • Tangshan Jidong CementLtd's earnings growth has exceeded the CN Basic Materials industry average in the past year (41.9% vs 28.5%).
Earnings and Revenue History
Tangshan Jidong CementLtd'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 Tangshan Jidong CementLtd Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SZSE:000401 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 34,507.03 2,700.59 5,498.08 71.88
2019-09-30 34,468.96 2,136.56 4,809.04 79.20
2019-06-30 34,082.74 2,042.83 4,799.52 88.97
2019-03-31 32,466.87 2,110.11 4,705.91 71.03
2018-12-31 31,448.13 1,903.68 5,415.35 65.52
2018-09-30 28,573.36 1,652.78 5,115.84 50.70
2018-06-30 26,708.36 1,339.61 4,793.37 11.49
2018-03-31 26,799.33 291.30 4,831.99 5.10
2017-12-31 25,167.94 504.35 4,130.30
2017-09-30 22,486.98 1,173.43 3,401.74 15.30
2017-06-30 18,379.23 1,065.35 3,185.82 8.73
2017-03-31 12,653.76 489.02 2,324.60
2016-12-31 12,335.15 52.89 2,264.83
2016-09-30 11,662.81 -1,563.69 2,341.14
2016-06-30 11,255.51 -2,840.48 2,714.02
2016-03-31 11,039.16 -1,920.75 2,764.27
2015-12-31 11,108.25 -1,715.22 2,807.13
2015-09-30 12,196.33 -589.90 2,731.24
2015-06-30 13,706.20 407.43 2,616.17
2015-03-31 15,033.44 -138.30 2,521.31
2014-12-31 15,664.74 34.71 2,479.74
2014-09-30 16,160.81 189.50 2,404.02
2014-06-30 16,230.49 335.74 2,318.42
2014-03-31 16,237.98 319.15 2,336.85
2013-12-31 15,710.73 344.45 2,295.03
2013-09-30 15,053.85 115.23 2,366.01
2013-06-30 14,784.25 -98.09 2,418.66

*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.
  • Tangshan Jidong CementLtd has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tangshan Jidong CementLtd used its assets less efficiently than the CN Basic Materials industry average last year based on Return on Assets.
  • Tangshan Jidong CementLtd has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tangshan Jidong CementLtd'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 Basic Materials 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.
Tangshan Jidong CementLtd has a total score of 3/6, see the detailed checks below.

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

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

Health

 How is Tangshan Jidong CementLtd'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 Tangshan Jidong CementLtd's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tangshan Jidong CementLtd's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Tangshan Jidong CementLtd's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tangshan Jidong CementLtd's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x 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 Tangshan Jidong CementLtd Company Filings, last reported 3 months ago.

SZSE:000401 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 28,837.96 16,547.27 5,979.05
2019-09-30 30,161.64 15,148.74 7,572.93
2019-06-30 28,475.64 16,984.43 6,157.64
2019-03-31 27,794.56 19,775.11 7,561.79
2018-12-31 29,277.19 20,685.19 10,431.51
2018-09-30 21,186.92 20,336.33 6,909.20
2018-06-30 11,489.94 19,841.27 4,061.38
2018-03-31 10,512.58 19,818.60 2,766.72
2017-12-31 19,617.55 20,543.66 5,796.18
2017-09-30 11,549.96 20,224.89 4,277.96
2017-06-30 11,038.38 21,287.53 3,824.20
2017-03-31 10,792.16 21,499.23 3,968.19
2016-12-31 11,167.87 20,020.71 3,754.70
2016-09-30 10,657.21 20,309.65 2,483.97
2016-06-30 10,142.28 20,828.80 3,002.90
2016-03-31 10,312.52 24,794.92 2,623.97
2015-12-31 11,333.04 23,655.49 2,741.13
2015-09-30 12,528.08 25,130.18 4,161.82
2015-06-30 13,873.39 24,377.97 4,500.94
2015-03-31 12,707.30 25,591.63 3,842.71
2014-12-31 13,437.12 24,968.90 3,218.40
2014-09-30 13,520.28 25,380.47 3,912.17
2014-06-30 13,395.01 24,487.97 3,135.21
2014-03-31 13,362.78 24,226.85 2,457.96
2013-12-31 13,899.80 24,168.79 2,704.72
2013-09-30 13,774.02 22,661.50 3,518.67
2013-06-30 13,366.27 23,850.75 3,517.71
  • Tangshan Jidong CementLtd's level of debt (57.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (185.9% vs 57.4% today).
  • Debt is well covered by operating cash flow (49.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.8x coverage).
X
Financial health checks
We assess Tangshan Jidong CementLtd'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. Tangshan Jidong CementLtd has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Tangshan Jidong CementLtd'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
2.65%
Current annual income from Tangshan Jidong CementLtd dividends. Estimated to be 3.76% next year.
If you bought CN¥2,000 of Tangshan Jidong CementLtd shares you are expected to receive CN¥53 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?
  • Tangshan Jidong CementLtd's pays a higher dividend yield than the bottom 25% of dividend payers in China (0.46%).
  • Tangshan Jidong CementLtd's dividend is above 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
SZSE:000401 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 6 Analyst Estimates (S&P Global) See Below
China Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 2.3%
China Market Average Dividend Yield Market Cap Weighted Average of 2588 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.

SZSE:000401 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.82 2.00
2021-12-31 0.70 3.00
2020-12-31 0.65 3.00
2020-04-06
SZSE:000401 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-03-19 0.500 2.540
2019-03-21 0.400 2.426
2016-10-24 0.000 0.000
2016-08-26 0.000 0.000
2016-07-14 0.000 0.000
2015-06-17 0.050 0.485
2014-08-05 0.100 0.871
2013-07-05 0.100 1.233
2010-10-21 0.000 0.000
2010-08-20 0.000 0.000
2010-04-26 0.000 0.000
2010-03-29 0.000 0.000
2009-04-09 0.100 0.645

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 Tangshan Jidong CementLtd's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x 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 Tangshan Jidong CementLtd'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 Tangshan Jidong CementLtd afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tangshan Jidong CementLtd 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.

Management

 What is the CEO of Tangshan Jidong CementLtd'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
Qing Kong
COMPENSATION CN¥1,332,300
AGE 48
CEO Bio

Mr. Qing Hui Kong has been Non-Independent Director of Tangshan Jidong Cement Co. Ltd since May 25, 2018 and serves as its General Manager.

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

Qing Kong

TITLE
GM & Non-Independent Director
COMPENSATION
CN¥1M
AGE
48

Qian Ren

TITLE
CFO & Non-Independent Director
COMPENSATION
CN¥1M
AGE
52
TENURE
10.4 yrs

Yu Liu

TITLE
Board Secretary & General Counsel
COMPENSATION
CN¥872K
AGE
37

Chen Liu

TITLE
Deputy General Manager
COMPENSATION
CN¥751K
AGE
56
TENURE
14.8 yrs

Su Liu

TITLE
Deputy GM & Non-Independent Director
COMPENSATION
CN¥983K
AGE
50

Yan Li

TITLE
Deputy GM & Non-Independent Director
COMPENSATION
CN¥1M
AGE
50

Xiang Wang

TITLE
Deputy General Manager
COMPENSATION
CN¥1M
AGE
48
Board of Directors Tenure

Average tenure and age of the Tangshan Jidong CementLtd board of directors in years:

2.6
Average Tenure
51
Average Age
  • The average tenure for the Tangshan Jidong CementLtd board of directors is less than 3 years, this suggests a new board.
Board of Directors

Chang Jiang

TITLE
Chairman
AGE
54

Qing Kong

TITLE
GM & Non-Independent Director
COMPENSATION
CN¥1M
AGE
48
TENURE
1.9 yrs

Qian Ren

TITLE
CFO & Non-Independent Director
COMPENSATION
CN¥1M
AGE
52
TENURE
2.6 yrs

Su Liu

TITLE
Deputy GM & Non-Independent Director
COMPENSATION
CN¥983K
AGE
50
TENURE
2.6 yrs

Yan Li

TITLE
Deputy GM & Non-Independent Director
COMPENSATION
CN¥1M
AGE
50
TENURE
1.9 yrs

Zong Liu

TITLE
Chairman of the Supervisory Board
AGE
58

Bao Yu

TITLE
Non-Independent Director
AGE
59
TENURE
2.6 yrs

Chao Chai

TITLE
Independent Director
COMPENSATION
CN¥120K
AGE
50

Xiang Kong

TITLE
Independent Director
AGE
65
TENURE
2.6 yrs

Yi Yao

TITLE
Independent Director
COMPENSATION
CN¥40K
AGE
47
TENURE
2.6 yrs
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 Tangshan Jidong CementLtd'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. Tangshan Jidong CementLtd has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

News

Simply Wall St News

Company Info

Description

Tangshan Jidong Cement Co.,Ltd. produces and sells in China. It offers special cement for the use in road and nuclear power sectors; anti-sulfate special cement for the use in heat/low heat environment; and Portland cement for the use in various construction projects, such as highways, hydropower dams, nuclear power stations, railways, airports, and high-rise buildings under the Dunshi brand. The company was founded in 1994 and is based in Tangshan, China.

Details
Name: Tangshan Jidong Cement Co.,Ltd.
000401
Exchange: SZSE
Founded: 1994
CN¥25,468,183,074
1,347,522,914
Website: http://www.jdsn.com.cn
Address: Tangshan Jidong Cement Co.,Ltd.
Linyin Road,
Fengrun District,
Tangshan,
Hebei Province, 064000,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SZSE 000401 Domestic Shares Shenzhen Stock Exchange CN CNY 23. Sep 1996
XSEC 000401 Domestic Shares Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect CN CNY 23. Sep 1996
Number of employees
Current staff
Staff numbers
24,153
Tangshan Jidong CementLtd employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 15:35
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/03/19
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.