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Highpower International

DB:HKN
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HKN
DB
€75M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Highpower International, Inc., together with its subsidiaries, produces and sells nickel-metal hydride (Ni-MH) rechargeable batteries. The last earnings update was 83 days ago. More info.


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HKN Share Price and Events
7 Day Returns
-0.9%
DB:HKN
6%
DE Electrical
0.6%
DE Market
1 Year Returns
120.9%
DB:HKN
38%
DE Electrical
5.4%
DE Market
HKN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Highpower International (HKN) -0.9% 0% 8.9% 120.9% 82.8% -21.9%
DE Electrical 6% 7% 23.2% 38% -24.7% -0.7%
DE Market 0.6% 6.7% 10% 5.4% 14.9% 21.1%
1 Year Return vs Industry and Market
  • HKN outperformed the Electrical industry which returned 38% over the past year.
  • HKN outperformed the Market in Germany which returned 5.4% over the past year.
Price Volatility
HKN
Industry
5yr Volatility vs Market

HKN Value

 Is Highpower International 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 Highpower International 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 Highpower International.

DB:HKN 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%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:HKN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.19
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.191 (1 + (1- 25%) (113.69%))
1.808
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.808 * 5.96%)
11.01%

Discounted Cash Flow Calculation for DB:HKN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Highpower International 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.

DB:HKN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.01%)
2020 18.14 Est @ 45.21% 16.34
2021 23.89 Est @ 31.71% 19.39
2022 29.22 Est @ 22.27% 21.36
2023 33.79 Est @ 15.66% 22.25
2024 37.52 Est @ 11.03% 22.26
2025 40.44 Est @ 7.79% 21.61
2026 42.67 Est @ 5.52% 20.55
2027 44.35 Est @ 3.93% 19.24
2028 45.60 Est @ 2.82% 17.82
2029 46.53 Est @ 2.04% 16.38
Present value of next 10 years cash flows $197.00
DB:HKN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $46.53 × (1 + 0.23%) ÷ (11.01% – 0.23%)
$432.72
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $432.72 ÷ (1 + 11.01%)10
$152.33
DB:HKN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $197.00 + $152.33
$349.33
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $349.33 / 15.69
$22.26
DB:HKN Discount to Share Price
Calculation Result
Exchange Rate USD/EUR
(Reporting currency to currency of DB:HKN)
0.898
Value per Share
(EUR)
= Value per Share in USD x Exchange Rate (USD/EUR)
= $22.26 x 0.898
€19.98
Value per share (EUR) From above. €19.98
Current discount Discount to share price of €4.22
= -1 x (€4.22 - €19.98) / €19.98
78.9%

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

Current Discount
Amount off the current price Highpower International is available for.
Intrinsic value
>50%
Share price is €4.22 vs Future cash flow value of €19.98
Current Discount Checks
For Highpower International to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Highpower International's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Highpower International'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 Highpower International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Highpower International's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HKN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.06
DB:HKN Share Price ** DB (2019-10-31) in EUR €4.22
DB:HKN Share Price converted to USD reporting currency Exchange rate (EUR/ USD) 1.114 $4.7
Germany Electrical Industry PE Ratio Median Figure of 11 Publicly-Listed Electrical Companies 57.31x
Germany Market PE Ratio Median Figure of 405 Publicly-Listed Companies 19.33x

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

** Primary Listing of Highpower International.

DB:HKN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= DB:HKN Share Price ÷ EPS (both in USD)

= 4.7 ÷ 1.06

4.42x

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

  • Highpower International is good value based on earnings compared to the DE Electrical industry average.
  • Highpower International is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Highpower International's expected growth come at a high price?
Raw Data
DB:HKN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.42x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-2.4%per year
Germany Electrical Industry PEG Ratio Median Figure of 8 Publicly-Listed Electrical Companies 2.19x
Germany Market PEG Ratio Median Figure of 260 Publicly-Listed Companies 1.32x

*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 Highpower International, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Highpower International's assets?
Raw Data
DB:HKN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $5.28
DB:HKN Share Price * DB (2019-10-31) in EUR €4.22
DB:HKN Share Price converted to USD reporting currency Exchange rate (EUR/ USD) 1.114 $4.7
Germany Electrical Industry PB Ratio Median Figure of 16 Publicly-Listed Electrical Companies 1.95x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.78x
DB:HKN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:HKN Share Price ÷ Book Value per Share (both in USD)

= 4.7 ÷ 5.28

0.89x

* Primary Listing of Highpower International.

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

  • Highpower International is good value based on assets compared to the DE Electrical industry average.
X
Value checks
We assess Highpower International'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. Highpower International has a total score of 5/6, 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.

HKN Future Performance

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

  • No analysts cover Highpower International, future earnings growth has been estimated based on fundamentals.
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
-2.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Highpower International expected to grow at an attractive rate?
  • Highpower International's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Highpower International's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare Highpower International's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:HKN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HKN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -2.4%
Germany Electrical Industry Earnings Growth Rate Market Cap Weighted Average 76.5%
Germany Electrical Industry Revenue Growth Rate Market Cap Weighted Average 15%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:HKN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HKN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 313 29 17
2019-03-31 302 24 15
2018-12-31 294 8 13
2018-09-30 284 -8 13
2018-06-30 265 -12 11
2018-03-31 252 -11 13
2017-12-31 244 -4 17
2017-09-30 219 -8 14
2017-06-30 202 4 11
2017-03-31 187 2 9
2016-12-31 174 5 6
2016-09-30 158 14 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Highpower International's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Highpower International 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
DB:HKN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Highpower International Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HKN Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.06
2019-03-31 0.94
2018-12-31 0.85
2018-09-30 0.81
2018-06-30 0.74
2018-03-31 0.85
2017-12-31 1.09
2017-09-30 0.90
2017-06-30 0.75
2017-03-31 0.60
2016-12-31 0.41
2016-09-30 0.30

*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 Highpower International will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Highpower International'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.
Highpower International 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.

HKN Past Performance

  How has Highpower International 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 Highpower International'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.
  • Highpower International has delivered over 20% year on year earnings growth in the past 5 years.
  • Highpower International's 1-year earnings growth exceeds its 5-year average (44.4% vs 36.6%)
  • Highpower International's earnings growth has exceeded the DE Electrical industry average in the past year (44.4% vs -10.5%).
Earnings and Revenue History
Highpower International'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 Highpower International Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HKN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 313.15 16.56 32.62 14.70
2019-03-31 302.26 14.58 30.35 13.92
2018-12-31 293.93 13.15 28.82 13.49
2018-09-30 284.46 12.55 28.18 12.82
2018-06-30 265.31 11.46 25.58 11.72
2018-03-31 252.08 13.12 24.29 10.26
2017-12-31 244.17 16.77 22.89 9.51
2017-09-30 218.85 13.69 22.64 8.94
2017-06-30 201.59 11.32 22.94 9.54
2017-03-31 186.62 9.00 22.98 9.43
2016-12-31 173.85 6.12 22.89 9.24
2016-09-30 157.82 4.53 20.28 8.68
2016-06-30 141.24 3.82 19.17 7.62
2016-03-31 143.14 3.63 19.41 7.58
2015-12-31 146.18 3.85 19.62 7.63
2015-09-30 143.65 5.69 19.30 7.50
2015-06-30 150.57 4.62 19.28 7.59
2015-03-31 150.07 3.57 19.16 7.57
2014-12-31 147.09 2.75 19.45 7.71
2014-09-30 150.19 1.96 20.52 7.57
2014-06-30 144.57 1.83 20.08 7.05
2014-03-31 137.61 1.12 19.19 6.42
2013-12-31 132.85 1.45 18.28 5.71
2013-09-30 125.23 0.81 17.37 5.33
2013-06-30 118.25 0.71 18.27 4.95
2013-03-31 116.45 1.10 17.81 4.83
2012-12-31 112.65 1.72 16.83 4.61

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Highpower International has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Highpower International used its assets more efficiently than the DE Electrical industry average last year based on Return on Assets.
  • Highpower International has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Highpower International'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.
Highpower International has a total score of 5/6, 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.

HKN Health

 How is Highpower International'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 Highpower International's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Highpower International is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Highpower International's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Highpower International'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 Highpower International Company Filings, last reported 4 months ago.

DB:HKN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 82.19 84.83 18.09
2019-03-31 79.47 101.71 24.17
2018-12-31 77.26 112.93 24.92
2018-09-30 71.15 93.73 7.98
2018-06-30 68.18 85.86 7.28
2018-03-31 69.17 94.75 18.86
2017-12-31 67.21 75.74 14.50
2017-09-30 60.99 67.26 11.90
2017-06-30 54.52 72.51 19.33
2017-03-31 48.07 68.91 20.04
2016-12-31 45.30 53.18 9.32
2016-09-30 45.52 57.42 13.48
2016-06-30 42.75 49.38 6.80
2016-03-31 42.74 41.98 6.75
2015-12-31 42.86 46.17 5.85
2015-09-30 43.76 51.96 7.91
2015-06-30 43.81 45.35 3.74
2015-03-31 41.51 53.05 9.92
2014-12-31 41.75 49.02 14.61
2014-09-30 39.37 47.21 11.80
2014-06-30 38.39 57.71 12.82
2014-03-31 33.98 49.93 5.14
2013-12-31 34.69 67.32 7.97
2013-09-30 32.96 68.72 6.43
2013-06-30 31.80 54.51 2.67
2013-03-31 31.16 49.80 4.71
2012-12-31 31.97 54.58 6.63
  • Highpower International's level of debt (103.2%) 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 (150% vs 103.2% today).
  • Debt is well covered by operating cash flow (33.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.6x coverage).
X
Financial health checks
We assess Highpower International'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. Highpower International has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

HKN Dividends

 What is Highpower International'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 Highpower International dividends.
If you bought €2,000 of Highpower International 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 Highpower International's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Highpower International'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
DB:HKN 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 6 Stocks 2.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as Highpower International has not reported any payouts.
  • Unable to verify if Highpower International's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Highpower International's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Highpower International 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 Highpower International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Highpower International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Highpower International 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.

HKN Management

 What is the CEO of Highpower International'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
George Pan
COMPENSATION $161,884
AGE 52
TENURE AS CEO 12 years
CEO Bio

Mr. Dangyu Pan, also known as George, has been Chairman of the Board and Chief Executive Officer of Highpower International Inc., since November 2007. Mr. Pan is the Founder of Shenzhen Highpower and has been its Chairman and Chief Executive Officer since October 2002. Mr. Pan has been Chairman and Chief Executive Officer of Hong Kong Highpower Technology, Inc. since July 2003. From May 2001 to October 2002, he served as Chairman of the Board and General Manager of Guangzhou HaoPeng Technology Co., Ltd. From January 1997 to July 2000, he served as Vice General Manager of Nanhai Shida Battery Co., Ltd. Additionally, from August 1990 to December 1994, he worked in the sales department of the Guangzhou Aluminum Products Factory. He serves as a Director of Hong Kong Highpower Technology, Inc. and Shenzhen Highpower. He serves as a Director of Highpower International Inc. From January 1995 to December 1996, he also served as a Director of the HuangPu Aluminum Factory. Mr. Pan holds a Bachelor's Degree in Metallurgical Engineering from Central South University in China in 1990.

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

Average tenure and age of the Highpower International management team in years:

3.3
Average Tenure
47
Average Age
  • The tenure for the Highpower International management team is about average.
Management Team

George Pan

TITLE
Chairman & CEO
COMPENSATION
$162K
AGE
52
TENURE
12 yrs

Sunny Pan

TITLE
CFO & Corporate Secretary
COMPENSATION
$158K
AGE
43
TENURE
2.8 yrs

Leo Liao

TITLE
Chief Technology Officer
COMPENSATION
$128K
AGE
40
TENURE
2.4 yrs

Yuanmei Ma

TITLE
Investor Relations Manager
AGE
47
TENURE
3.3 yrs

Bryan Bai

TITLE
Vice President of Sales
TENURE
7.8 yrs

Yang Zhongqui

TITLE
Chief Operation Officer of Lithium-Ion Battery Business Unit and Vice President

Wei Ma Wen

TITLE
Consultant
AGE
50
TENURE
2.4 yrs

Henry Sun

TITLE
COMPENSATION
$130K
AGE
47
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure of the Highpower International board of directors in years:

0.1
Average Tenure
  • The average tenure for the Highpower International board of directors is less than 3 years, this suggests a new board.
Board of Directors

George Pan

TITLE
Chairman & CEO
COMPENSATION
$162K
AGE
52
TENURE
12 yrs

Yi Yang Hao

TITLE
Director
TENURE
0.1 yrs

Chen Ping

TITLE
Director
TENURE
0.1 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 (€)
X
Management checks
We assess Highpower International'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. Highpower International 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.

HKN News

Simply Wall St News

HKN Company Info

Description

Highpower International, Inc., together with its subsidiaries, produces and sells nickel-metal hydride (Ni-MH) rechargeable batteries. The company operates in three segments: Lithium Business, Ni-MH Batteries and Accessories, and New Material. It offers Ni-MH rechargeable batteries in AA, AAA, 9V, C, D, and SC sizes in blister packing, as well as chargers and battery packs. The company also provides lithium-ion cylindrical and polymer rechargeable batteries, and power source solutions. In addition, it is involved in the research, design, production, and sale of battery packs and systems, and lithium batteries. The company’s products are used in various applications, such as electric toys, power tools, portable computers and other electronics, medical devices, and other consumer products. It serves in Mainland China, Asia, Europe, North America, and internationally. The company was formerly known as Hong Kong Highpower Technology, Inc. and changed its name to Highpower International, Inc. in October 2010. Highpower International, Inc. was founded in 2001 and is headquartered in Shenzhen, the People’s Republic of China.

Details
Name: Highpower International, Inc.
HKN
Exchange: DB
Founded: 2001
€75,157,997
15,690,605
Website: http://www.highpowertech.com
Address: Highpower International, Inc.
Building A1,
68 Xinxia Street,
Shenzhen,
Guangdong Province, 518111,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB HKN Common Stock Deutsche Boerse AG DE EUR 19. Jun 2008
Number of employees
Current staff
Staff numbers
4,400
Highpower International employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/04 21:09
End of day share price update: 2019/10/31 00:00
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
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.