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Fullshare Holdings

BST:WAV
Snowflake Description

Slightly overvalued with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WAV
BST
HK$2B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Fullshare Holdings Limited, an investment holding company, engages in the property development, sale of gear products, and investment activities in the People’s Republic of China, the United States, Europe, Australia, and internationally. The last earnings update was 3 days ago. More info.


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  • Fullshare Holdings has significant price volatility in the past 3 months.
WAV Share Price and Events
7 Day Returns
40%
BST:WAV
-0.9%
DE Electrical
-3%
DE Market
1 Year Returns
-96.6%
BST:WAV
-12%
DE Electrical
-20.6%
DE Market
WAV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fullshare Holdings (WAV) 40% 16.7% -63.2% -96.6% -99.1% -
DE Electrical -0.9% -25.5% -36.9% -12% -42.4% -44.4%
DE Market -3% -19.1% -26.2% -20.6% -25.6% -30.7%
1 Year Return vs Industry and Market
  • WAV underperformed the Electrical industry which returned -12% over the past year.
  • WAV underperformed the Market in Germany which returned -20.6% over the past year.
Price Volatility
WAV
Industry
5yr Volatility vs Market

Value

 Is Fullshare Holdings 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 Fullshare Holdings 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 Fullshare Holdings.

BST:WAV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 BST:WAV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.113 (1 + (1- 25%) (490.43%))
3.82
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 6.07%)
11.75%

Discounted Cash Flow Calculation for BST:WAV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fullshare Holdings 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.

BST:WAV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 11.75%)
2020 305.70 Est @ 8.31% 273.56
2021 323.13 Est @ 5.7% 258.75
2022 335.65 Est @ 3.87% 240.51
2023 344.36 Est @ 2.59% 220.81
2024 350.21 Est @ 1.7% 200.95
2025 353.96 Est @ 1.07% 181.75
2026 356.21 Est @ 0.63% 163.67
2027 357.37 Est @ 0.33% 146.94
2028 357.77 Est @ 0.11% 131.64
2029 357.63 Est @ -0.04% 117.75
Present value of next 10 years cash flows CN¥1,936.00
BST:WAV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥357.63 × (1 + -0.39%) ÷ (11.75% – -0.39%)
CN¥2,934.41
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥2,934.41 ÷ (1 + 11.75%)10
CN¥966.15
BST:WAV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥1,936.00 + CN¥966.15
CN¥2,902.15
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥2,902.15 / 19,687.87
CN¥0.15
BST:WAV Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:607)
1.093
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.15 x 1.093
HK$0.16
Non-primary Listing Adjustment Factor 1 share in BST:WAV represents 0.02917x of SEHK:607
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.02917x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.16 x 0.02917
€0.00
Value per share (EUR) From above. €0.00
Current discount Discount to share price of €0.00
= -1 x (€0.00 - €0.00) / €0.00
25.5%

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

Current Discount
Amount off the current price Fullshare Holdings is available for.
Intrinsic value
26%
Share price is €0.0035 vs Future cash flow value of €0.0047
Current Discount Checks
For Fullshare Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Fullshare Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Fullshare Holdings's share price is below the future cash flow value, but not 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 Fullshare Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fullshare Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:WAV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥-0.15
SEHK:607 Share Price ** SEHK (2020-04-03) in HKD HK$0.12
SEHK:607 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥0.11
Germany Electrical Industry PE Ratio Median Figure of 7 Publicly-Listed Electrical Companies 20.71x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of Fullshare Holdings.

BST:WAV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:607 Share Price ÷ EPS (both in CNY)

= 0.11 ÷ -0.15

-0.75x

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

  • Fullshare Holdings is loss making, we can't compare its value to the DE Electrical industry average.
  • Fullshare Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Fullshare Holdings's expected growth come at a high price?
Raw Data
BST:WAV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.75x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Electrical Industry PEG Ratio Median Figure of 6 Publicly-Listed Electrical Companies 0.99x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Fullshare Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fullshare Holdings's assets?
Raw Data
BST:WAV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥0.90
SEHK:607 Share Price * SEHK (2020-04-03) in HKD HK$0.12
SEHK:607 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥0.11
Germany Electrical Industry PB Ratio Median Figure of 14 Publicly-Listed Electrical Companies 1.87x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
BST:WAV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:607 Share Price ÷ Book Value per Share (both in CNY)

= 0.11 ÷ 0.90

0.12x

* Primary Listing of Fullshare Holdings.

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

  • Fullshare Holdings is good value based on assets compared to the DE Electrical industry average.
X
Value checks
We assess Fullshare Holdings'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 Electrical 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 Electrical industry average (and greater than 0)? (1 check)
  5. Fullshare Holdings 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.

Future Performance

 How is Fullshare Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fullshare Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
68.3%
Expected Electrical industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fullshare Holdings expected to grow at an attractive rate?
  • Unable to compare Fullshare Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Fullshare Holdings's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Fullshare Holdings's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:WAV Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Electrical Industry Earnings Growth Rate Market Cap Weighted Average 68.3%
Germany Electrical Industry Revenue Growth Rate Market Cap Weighted Average 12%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 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
BST:WAV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:WAV Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
BST:WAV Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 11,163 -2,874
2019-09-30 11,186 -4,520
2019-06-30 11,209 998 -6,191
2019-03-31 10,749 604 -4,610
2018-12-31 10,289 209 -3,030
2018-09-30 10,182 572 151
2018-06-30 10,075 936 3,359
2018-03-31 10,551 1,459 2,813
2017-12-31 11,026 1,982 2,267
2017-09-30 9,389 1,653 1,574
2017-06-30 7,752 1,323 881
2017-03-31 6,032 1,204 1,983

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Fullshare Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Fullshare Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:WAV 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 0 Analyst Estimates (S&P Global) See Below

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

BST:WAV Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
BST:WAV Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 -0.15
2019-09-30 -0.23
2019-06-30 -0.31
2019-03-31 -0.23
2018-12-31 -0.15
2018-09-30 0.01
2018-06-30 0.17
2018-03-31 0.14
2017-12-31 0.11
2017-09-30 0.08
2017-06-30 0.05
2017-03-31 0.12

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Fullshare Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of WAV’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Fullshare Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Fullshare Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Fullshare Holdings'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Fullshare Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has Fullshare Holdings 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 Fullshare Holdings's growth in the last year to its industry (Electrical).
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.
  • Fullshare Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Fullshare Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Fullshare Holdings's 1-year growth to the DE Electrical industry average as it is not currently profitable.
Earnings and Revenue History
Fullshare Holdings'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 Fullshare Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:WAV 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 11,163.10 -2,874.19 1,423.37 404.24
2019-09-30 11,185.87 -4,519.52 1,515.60 337.90
2019-06-30 11,208.63 -6,190.94 1,487.83 391.58
2019-03-31 10,748.64 -4,610.45 1,476.98 369.64
2018-12-31 10,288.65 -3,029.95 1,466.13 347.71
2018-09-30 10,182.07 151.48 1,492.54 457.43
2018-06-30 10,075.48 3,359.02 1,638.95 447.14
2018-03-31 10,550.97 2,813.24 1,733.24 387.14
2017-12-31 11,026.46 2,267.45 1,827.53 327.14
2017-09-30 9,389.40 1,574.16 1,618.61 163.57
2017-06-30 7,752.34 880.86 1,409.69
2017-03-31 6,031.88 1,983.44 1,058.95
2016-12-31 4,311.42 3,086.02 708.21
2016-09-30 3,472.63 2,706.13 553.07
2016-06-30 2,633.84 2,326.24 397.94
2016-03-31 2,864.72 1,772.03 350.73
2015-12-31 3,095.61 1,217.83 303.53
2015-09-30 2,548.41 445.10 204.37
2015-06-30 2,283.14 -351.70 179.89
2015-03-31 1,538.27 -711.34 139.77
2014-12-31 793.40 -1,070.99 99.65
2014-06-30 922.26 -428.90 74.31
2014-03-31 890.83 -319.30 64.99
2013-12-31 859.39 -209.70 55.67

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Fullshare Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Fullshare Holdings has efficiently used its assets last year compared to the DE Electrical industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Fullshare Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Fullshare Holdings'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 Electrical 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.
Fullshare Holdings has a total score of 0/6, see the detailed checks below.

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

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

Health

 How is Fullshare Holdings'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 Fullshare Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fullshare Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fullshare Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fullshare Holdings'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 2.1x 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 Fullshare Holdings Company Filings, last reported 3 months ago.

BST:WAV Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 20,867.82 10,152.17 7,471.89
2019-09-30 20,867.82 10,152.17 7,471.89
2019-06-30 21,084.62 11,290.41 6,935.88
2019-03-31 21,084.62 11,290.41 6,935.88
2018-12-31 23,900.54 12,998.75 10,482.76
2018-09-30 23,900.54 12,998.75 10,482.76
2018-06-30 27,797.46 14,361.26 14,690.59
2018-03-31 27,797.46 14,361.26 14,690.59
2017-12-31 27,203.70 14,048.99 12,573.74
2017-09-30 27,203.70 14,048.99 12,573.74
2017-06-30 24,986.15 10,763.49 7,286.78
2017-03-31 24,986.15 10,763.49 7,286.78
2016-12-31 26,313.67 9,007.99 10,140.18
2016-09-30 26,313.67 9,007.99 10,140.18
2016-06-30 6,850.79 993.54 4,434.06
2016-03-31 6,850.79 993.54 4,434.06
2015-12-31 5,318.24 985.01 2,838.67
2015-09-30 4,959.64 900.27 2,792.44
2015-06-30 2,895.26 2,259.21 183.20
2015-03-31 2,895.26 2,259.21 183.20
2014-12-31 2,168.85 926.01 355.04
2014-06-30 -313.26 1,042.35 75.96
2014-03-31 -313.26 1,042.35 75.96
2013-12-31 -194.75 953.25 116.36
  • Fullshare Holdings's level of debt (48.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (43.2% vs 48.6% today).
  • Debt is not well covered by operating cash flow (9.8%, less than 20% of total debt).
  • Fullshare Holdings is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Fullshare Holdings'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. Fullshare Holdings has a total score of 2/6, 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 Fullshare Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Fullshare Holdings dividends.
If you bought €2,000 of Fullshare Holdings shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Fullshare Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Fullshare Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:WAV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Electrical Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 318 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.8%

Industry and Market average data is calculated daily.

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

BST:WAV Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
BST:WAV Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-09-27 0.000 0.000
2019-08-30 0.000 0.000
2019-04-26 0.000 0.000
2019-04-01 0.000 0.000
2018-04-18 0.015 0.725
2018-03-29 0.015 0.453
2017-04-18 0.015 0.529
2016-05-20 0.010 0.328

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

  • Unable to perform a dividend volatility check as Fullshare Holdings has not reported any payouts.
  • Unable to verify if Fullshare Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Fullshare Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Fullshare Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Fullshare Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Fullshare Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fullshare Holdings has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of Fullshare Holdings'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
Changqun Ji
COMPENSATION CN¥308,000
AGE 50
CEO Bio

Mr. Changqun Ji has been the Chairman and Chief Executive Officer of Fullshare Holdings Limited since December 12, 2013 and its Executive Director since December 12, 2013. Mr. Ji has over 25 years of management experience in the real estate industry in the PRC. He is a PRC Senior Engineer and Senior Economist.He served as the Project Manager and the Branch Manager of Nanjing Jiasheng Infrastructure Engineering Co., Ltd. from March 1993 to August 1995. Mr. Ji served as the Deputy General Manager and the General Manager of Jiasheng Construction Group Co., Ltd. from September 1995 to November 2011. He serves as The honorary chairman of Nanjing University of Chinese Medicine. He holds a lot of important social positions, including the representative of People's Congress of Nanjing, the Vice Chairman of Jiangsu Federation of Industrial Economics, Jiangsu Enterprise Confederation and Jiangsu Enterprise Directors Association, the chairman of Anhui Chamber of Commerce of Jiangsu, the Vice President and Vice Chairman of Nanjing Federation of Industry and Commerce, the Vice Chairman of Nanjing Yuhuatai District Private and Individual Economy Association and Nanjing Overseas Exchange Association, the member of the council of Nanjing University, the guest professor of Nanjing University of Chinese Medicine, the dean of Fullshare Health Institute. Mr. Ji was awarded with various honors, including Nanjing Model Worker in 2006, Outstanding Contribution Entrepreneur of Jiangsu Construction Industry in 2007, Nanjing Guangcai Programme Star in 2010, National Outstanding Entrepreneur on Staff Caring in Private Sector in 2011, May 1 Labour Medal award winner of Jiangsu Province in 2012, Outstanding Builder of Socialism with Chinese Characteristics of Jiangsu Province in 2012 and Top 10 Integrity Models issued by Jiangsu Province in 2012. He has been the Chairman of Nanjing Fullshare Industrial Holding Co. Limited (Nanjing Fullshare Holding) since November 2002. He obtained a diploma of adult higher education majoring in highway and city road issued by Nanjing Associated Workers' College in February 1999. He studied the courses for postgraduates majoring in management science and engineering in Southeast University from September 2003 to September 2005. Mr. Ji obtained a Master's degree majoring in Business Administration issued by Macau University of Science and Technology in June 2006. He holds a Postgraduates majoring in management science and engineering in Southeast University.

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

Average tenure and age of the Fullshare Holdings management team in years:

4.3
Average Tenure
43
Average Age
  • The tenure for the Fullshare Holdings management team is about average.
Management Team

Changqun Ji

TITLE
Chairman & CEO
COMPENSATION
CN¥308K
AGE
50

Zhiqiang Shi

TITLE
Chief Investment Officer & Special Assistant to the CEO
COMPENSATION
CN¥3M
AGE
43
TENURE
6.3 yrs

Wei Du

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
38

Ying Seto

TITLE
Company Secretary & Financial Controller
COMPENSATION
CN¥7K
AGE
43

Chi Ping Yuen

TITLE
Chief Operating Officer
AGE
40
TENURE
5.5 yrs

Fei Zhou

TITLE
Chief Risk Officer & Head of Legal Compliance Department
AGE
37

Jack Tsai

TITLE
Chief Portfolio Officer
AGE
38
TENURE
4.2 yrs

Daniel Tao

TITLE
Chief Branding Officer
AGE
52
TENURE
4.3 yrs

Jian Lu

TITLE
President of Property & Tourism Department
AGE
50

Shen Chen

TITLE
Financial Controller & Executive Director
AGE
48
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Fullshare Holdings board of directors in years:

6.3
Average Tenure
52.5
Average Age
  • The tenure for the Fullshare Holdings board of directors is about average.
Board of Directors

Changqun Ji

TITLE
Chairman & CEO
COMPENSATION
CN¥308K
AGE
50
TENURE
6.3 yrs

Wei Du

TITLE
Executive Director
COMPENSATION
CN¥2M
AGE
38
TENURE
1.8 yrs

Shen Chen

TITLE
Financial Controller & Executive Director
AGE
48
TENURE
0.5 yrs

Chi Keung Lau

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥308K
AGE
70
TENURE
6.3 yrs

Siu Lui Chow

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥308K
AGE
59
TENURE
6.3 yrs

Kirk Tsang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥308K
AGE
55
TENURE
6.3 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 (€) Value (€)
02. Jan 20 Sell BOCI - Prudential Asset Management Limited Company 02. Jan 20 02. Jan 20 -12,407,500 €0.02 €-256,372
12. Jul 19 Sell Changqun Ji Individual 09. Jul 19 09. Jul 19 -9,700,000 €0.03 €-311,825
10. Jul 19 Sell Changqun Ji Individual 08. Jul 19 08. Jul 19 -20,000,000 €0.03 €-572,757
09. Jul 19 Sell Changqun Ji Individual 05. Jul 19 05. Jul 19 -15,000,000 €0.03 €-474,094
08. Jul 19 Sell Changqun Ji Individual 04. Jul 19 04. Jul 19 -8,000,000 €0.04 €-296,669
05. Jul 19 Sell Changqun Ji Individual 03. Jul 19 03. Jul 19 -6,600,000 €0.05 €-304,264
04. Jul 19 Sell Changqun Ji Individual 02. Jul 19 02. Jul 19 -4,777,500 €0.05 €-247,705
X
Management checks
We assess Fullshare Holdings'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. Fullshare Holdings 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

Fullshare Holdings Limited, an investment holding company, engages in the property development, sale of gear products, and investment activities in the People’s Republic of China, the United States, Europe, Australia, and internationally. It operates through five segments: Properties; Tourism; Investment and Financial Services; Healthcare, Education, and Others; and New Energy. The company develops and sells properties, including residential, hotels, offices, apartments, and shopping malls. It also holds and trades in various investments and financial products, such as securities, bonds, funds, derivatives, structured, and other treasury products; and provides tourist services. It also engages in the research, development, production, and sale of medical imaging equipment; and manufacture and sale of gear products that are used in wind power and a range of industrial applications. In addition, the company provides healthcare and education products and services. The company was formerly known as Warderly International Holdings Limited and changed its name to Fullshare Holdings Limited in October 2014. The company is based in Admiralty, Hong Kong. Fullshare Holdings Limited is a subsidiary of Magnolia Wealth International Limited.

Details
Name: Fullshare Holdings Limited
WAV
Exchange: BST
Founded:
HK$282,455,351
19,687,870,331
Website: http://www.fullshare.com
Address: Fullshare Holdings Limited
Unit 2805, Admiralty Centre Tower 1,
Level 28,
Admiralty,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 607 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 16. Dec 2013
OTCPK FLLH.F Ordinary Shares Pink Sheets LLC US USD 16. Dec 2013
BST WAV Ordinary Shares Boerse-Stuttgart DE EUR 16. Dec 2013
SHSC 607 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 16. Dec 2013
SZSC 607 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 16. Dec 2013
Number of employees
Current staff
Staff numbers
6,583
Fullshare Holdings employees.
Industry
Heavy Electrical Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 23:54
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2019/03/31
Last earnings filing: 2020/03/31
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.