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Bright Smart Securities & Commodities Group

DB:0BX
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0BX
DB
HK$1B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Bright Smart Securities & Commodities Group Limited, an investment holding company, provides financial services in Hong Kong. The last earnings update was 99 days ago. More info.


Add to Portfolio Compare Print
  • Bright Smart Securities & Commodities Group has significant price volatility in the past 3 months.
0BX Share Price and Events
7 Day Returns
-1.6%
DB:0BX
12.3%
DE Capital Markets
7.2%
DE Market
1 Year Returns
-56.6%
DB:0BX
-8.8%
DE Capital Markets
-17.5%
DE Market
0BX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bright Smart Securities & Commodities Group (0BX) -1.6% -25% -40.2% -56.6% -69.1% -47.7%
DE Capital Markets 12.3% -26.5% -16.8% -8.8% -29% -56.3%
DE Market 7.2% -22.3% -26.1% -17.5% -25.7% -29.1%
1 Year Return vs Industry and Market
  • 0BX underperformed the Capital Markets industry which returned -8.8% over the past year.
  • 0BX underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
0BX
Industry
5yr Volatility vs Market

Value

 Is Bright Smart Securities & Commodities Group 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 Bright Smart Securities & Commodities Group 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 Bright Smart Securities & Commodities Group.

DB:0BX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= HK$1.55 * 16.2%
HK$0.25
Book Value of Equity per Share Median Book Value from the past 5 years. HK$1.55
Discount Rate (Cost of Equity) See below 10%
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 DB:0BX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 25%) (232.78%))
1.718
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.72
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.718 * 6.07%)
10.04%

Discounted Cash Flow Calculation for DB:0BX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Bright Smart Securities & Commodities Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:0BX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (16.2% – 10.04%) * HK$1.55)
HK$0.10
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$0.10 / (10.04% - -0.39%)
HK$0.91
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$1.55 + HK$0.91
HK$2.47
DB:0BX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:0BX represents 0.10517x of SEHK:1428
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10517x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 2.47 x 0.10517
€0.26
Value per share (EUR) From above. €0.26
Current discount Discount to share price of €0.09
= -1 x (€0.09 - €0.26) / €0.26
64.7%

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

Current Discount
Amount off the current price Bright Smart Securities & Commodities Group is available for.
Intrinsic value
>50%
Share price is €0.0915 vs Future cash flow value of €0.25944
Current Discount Checks
For Bright Smart Securities & Commodities Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bright Smart Securities & Commodities Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bright Smart Securities & Commodities Group'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 Bright Smart Securities & Commodities Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bright Smart Securities & Commodities Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:0BX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in HKD HK$0.24
SEHK:1428 Share Price ** SEHK (2020-03-27) in HKD HK$0.87
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.49x

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

** Primary Listing of Bright Smart Securities & Commodities Group.

DB:0BX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1428 Share Price ÷ EPS (both in HKD)

= 0.87 ÷ 0.24

3.59x

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

  • Bright Smart Securities & Commodities Group is good value based on earnings compared to the DE Capital Markets industry average.
  • Bright Smart Securities & Commodities Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Bright Smart Securities & Commodities Group's expected growth come at a high price?
Raw Data
DB:0BX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.49x
Germany Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.22x

*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 Bright Smart Securities & Commodities Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bright Smart Securities & Commodities Group's assets?
Raw Data
DB:0BX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in HKD HK$1.77
SEHK:1428 Share Price * SEHK (2020-03-27) in HKD HK$0.87
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.61x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.42x
DB:0BX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1428 Share Price ÷ Book Value per Share (both in HKD)

= 0.87 ÷ 1.77

0.49x

* Primary Listing of Bright Smart Securities & Commodities Group.

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

  • Bright Smart Securities & Commodities Group is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Bright Smart Securities & Commodities Group'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Bright Smart Securities & Commodities Group 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.

Future Performance

 How is Bright Smart Securities & Commodities Group 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 Bright Smart Securities & Commodities Group 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
41.2%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bright Smart Securities & Commodities Group expected to grow at an attractive rate?
  • Unable to compare Bright Smart Securities & Commodities Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Bright Smart Securities & Commodities Group's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Bright Smart Securities & Commodities Group's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:0BX Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 41.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*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:0BX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:0BX Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-09-30 869 711 412
2019-06-30 881 2,625 426
2019-03-31 893 4,538 441
2018-12-31 960 4,217 492
2018-09-30 1,027 3,896 543
2018-06-30 991 474 529
2018-03-31 955 -2,948 516
2017-12-31 844 -3,807 433
2017-09-30 733 -4,666 350
2017-06-30 689 -3,599 311
2017-03-31 645 -2,533 272
2016-12-31 621 -1,609 259

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Bright Smart Securities & Commodities Group is high growth as no earnings estimate data is available.
  • Unable to determine if Bright Smart Securities & Commodities Group 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:0BX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Bright Smart Securities & Commodities Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:0BX Past Financials Data
Date (Data in HKD Millions) EPS *
2019-09-30 0.24
2019-06-30 0.25
2019-03-31 0.26
2018-12-31 0.29
2018-09-30 0.32
2018-06-30 0.31
2018-03-31 0.30
2017-12-31 0.26
2017-09-30 0.21
2017-06-30 0.18
2017-03-31 0.16
2016-12-31 0.15

*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 Bright Smart Securities & Commodities Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Bright Smart Securities & Commodities Group is trading at Bright Smart Securities & Commodities Group'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Bright Smart Securities & Commodities Group'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 Diversified Financials companies here
  3. Bright Smart Securities & Commodities Group'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 Bright Smart Securities & Commodities Group'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.
Bright Smart Securities & Commodities Group 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 Bright Smart Securities & Commodities Group 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 Bright Smart Securities & Commodities Group's growth in the last year to its industry (Capital Markets).
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.
  • Bright Smart Securities & Commodities Group's year on year earnings growth rate has been positive over the past 5 years.
  • Bright Smart Securities & Commodities Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bright Smart Securities & Commodities Group's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Bright Smart Securities & Commodities Group'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 Bright Smart Securities & Commodities Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:0BX Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 868.69 411.60 180.52
2019-06-30 880.82 426.26 195.02
2019-03-31 892.94 440.93 209.51
2018-12-31 960.18 491.88 214.90
2018-09-30 1,027.43 542.83 220.28
2018-06-30 991.06 529.46 214.24
2018-03-31 954.69 516.10 208.19
2017-12-31 843.69 433.28 197.99
2017-09-30 732.69 350.46 187.79
2017-06-30 689.00 311.18 182.20
2017-03-31 645.30 271.91 176.61
2016-12-31 620.71 259.01 174.79
2016-09-30 596.11 246.10 172.96
2016-06-30 654.69 285.79 177.01
2016-03-31 713.27 325.48 181.06
2015-12-31 724.84 332.40 179.47
2015-09-30 736.42 339.32 177.87
2015-06-30 637.12 278.85 169.90
2015-03-31 537.83 218.38 161.94
2014-12-31 504.40 203.36 156.30
2014-09-30 470.97 188.35 150.66
2014-06-30 455.22 177.55 147.82
2014-03-31 439.46 166.75 144.98
2013-12-31 413.04 150.01 141.02
2013-09-30 386.63 133.26 137.07
2013-06-30 350.41 112.75 131.49
2013-03-31 314.20 92.23 125.92

*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.
  • Bright Smart Securities & Commodities Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bright Smart Securities & Commodities Group used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Bright Smart Securities & Commodities Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Bright Smart Securities & Commodities Group'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 Capital Markets 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.
Bright Smart Securities & Commodities Group has a total score of 2/6, 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 Bright Smart Securities & Commodities Group'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 Bright Smart Securities & Commodities Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bright Smart Securities & Commodities Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bright Smart Securities & Commodities Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bright Smart Securities & Commodities Group'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bright Smart Securities & Commodities Group Company Filings, last reported 5 months ago.

DB:0BX Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 3,001.49 3,281.04 408.89
2019-06-30 3,001.49 3,281.04 408.89
2019-03-31 2,923.29 3,645.59 410.00
2018-12-31 2,923.29 3,645.59 410.00
2018-09-30 2,723.29 4,079.96 593.27
2018-06-30 2,723.29 4,079.96 593.27
2018-03-31 2,636.96 8,166.31 511.89
2017-12-31 2,636.96 8,166.31 511.89
2017-09-30 2,333.62 7,534.22 414.37
2017-06-30 2,333.62 7,534.22 414.37
2017-03-31 2,199.69 5,096.00 596.90
2016-12-31 2,199.69 5,096.00 596.90
2016-09-30 2,071.52 3,028.35 621.81
2016-06-30 2,071.52 3,028.35 621.81
2016-03-31 2,037.34 2,554.00 503.44
2015-12-31 2,037.34 2,554.00 503.44
2015-09-30 1,911.51 2,073.00 518.89
2015-06-30 1,911.51 2,073.00 518.89
2015-03-31 1,740.65 14,010.26 521.78
2014-12-31 1,740.65 14,010.26 521.78
2014-09-30 1,049.22 3,100.62 817.64
2014-06-30 1,049.22 3,100.62 817.64
2014-03-31 1,004.37 2,776.00 370.37
2013-12-31 1,004.37 2,776.00 370.37
2013-09-30 812.16 4,455.00 455.88
2013-06-30 812.16 4,455.00 455.88
2013-03-31 757.48 1,790.00 381.48
  • Bright Smart Securities & Commodities Group's level of debt (109.3%) 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 (304.6% vs 109.3% today).
  • Debt is well covered by operating cash flow (21.7%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Bright Smart Securities & Commodities Group's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Bright Smart Securities & Commodities Group'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. Bright Smart Securities & Commodities Group 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 Bright Smart Securities & Commodities Group'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
8.97%
Current annual income from Bright Smart Securities & Commodities Group dividends.
If you bought €2,000 of Bright Smart Securities & Commodities Group shares you are expected to receive €179 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?
  • Bright Smart Securities & Commodities Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Bright Smart Securities & Commodities Group's dividend is above the markets top 25% of dividend payers in Germany (4.96%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:0BX 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 Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 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 5%

Industry and Market average data is calculated daily.

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

DB:0BX Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-06-19 0.078 5.949
2018-05-23 0.091 5.170
2017-06-19 0.048 1.893
2016-08-08 0.057 2.070
2015-08-10 0.038 1.697
2014-07-07 0.045 2.567
2013-07-08 0.027 2.046
2012-06-25 0.018 2.469
2011-06-10 0.018 2.612

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

  • Whilst dividend payments have been stable, Bright Smart Securities & Commodities Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Bright Smart Securities & Commodities Group only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Bright Smart Securities & Commodities Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x 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 Bright Smart Securities & Commodities Group'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 Bright Smart Securities & Commodities Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bright Smart Securities & Commodities Group has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Bright Smart Securities & Commodities Group'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
Yik Bun Hui
COMPENSATION HK$5,831,000
AGE 45
TENURE AS CEO 3.8 years
CEO Bio

Mr. Yik Bun Hui, also known as Edmond, has been the Chief Executive Officer of Bright Smart Securities & Commodities Group Limited since May 31, 2016. Mr. Hui served as a Co-Chief Executive Officer of Bright Smart Securities & Commodities Group Limited from October 5, 2015 to May 31, 2016 and served as its Sales Director. He served as an Assistant Sales Director at Bright Smart Securities & Commodities Group Limited since May 2010. Prior to this, he served as District Manager, managing branches' operations and supervising over 70 officers. He is also a responsible officer recognized by the SFC for engaging in the Type 1(dealing in securities) and Type 2 (dealing in futures contracts) regulated activities. He has over 18 years of experience in securities and futures businesses and has worked in departments related to securities and futures in a number of firms. Mr. Hui has expertise in brokerage operation, sales management and market operation of securities and futures businesses, particularly with over 10 years' experience in frontline branch management. He has been an Executive Director of Bright Smart Securities & Commodities Group Limited since October 5, 2015.

CEO Compensation
  • Yik Bun's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Yik Bun's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Bright Smart Securities & Commodities Group management team in years:

8.4
Average Tenure
49.5
Average Age
  • The average tenure for the Bright Smart Securities & Commodities Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mow Lum Yip

TITLE
Chairman of the Board
COMPENSATION
HK$9M
AGE
67
TENURE
9.6 yrs

Yik Bun Hui

TITLE
CEO & Executive Director
COMPENSATION
HK$6M
AGE
45
TENURE
3.8 yrs

Wilson Chan

TITLE
Dealing Director & Executive Director
COMPENSATION
HK$1M
AGE
54
TENURE
9.6 yrs

Wan Mei Li

TITLE
Chief Financial Officer
AGE
35
TENURE
9.4 yrs

Jacquelyn Yip

TITLE
Assistant to Chairman of the Group
AGE
38
TENURE
1.7 yrs

Kwan Pak Chan

TITLE
Company Secretary
AGE
62
TENURE
7.4 yrs
Board of Directors Tenure

Average tenure and age of the Bright Smart Securities & Commodities Group board of directors in years:

9.6
Average Tenure
57
Average Age
  • The tenure for the Bright Smart Securities & Commodities Group board of directors is about average.
Board of Directors

Mow Lum Yip

TITLE
Chairman of the Board
COMPENSATION
HK$9M
AGE
67
TENURE
9.6 yrs

Yik Bun Hui

TITLE
CEO & Executive Director
COMPENSATION
HK$6M
AGE
45
TENURE
4.4 yrs

Wilson Chan

TITLE
Dealing Director & Executive Director
COMPENSATION
HK$1M
AGE
54
TENURE
9.6 yrs

Yun Kong Yu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$231K
AGE
52
TENURE
9.6 yrs

Wai Sun Szeto

TITLE
Independent Non-Executive Director
COMPENSATION
HK$200K
AGE
60
TENURE
9.6 yrs

Joseph Ling

TITLE
Independent Non-Executive Director
COMPENSATION
HK$169K
AGE
63
TENURE
9.6 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 (€) Value (€)
10. Dec 19 Buy Mow Lum Yip Individual 05. Dec 19 05. Dec 19 1,804,000 €0.15 €267,697
28. Oct 19 Buy Mow Lum Yip Individual 23. Oct 19 23. Oct 19 56,000 €0.15 €8,219
18. Oct 19 Buy Mow Lum Yip Individual 15. Oct 19 15. Oct 19 592,000 €0.15 €89,580
10. Oct 19 Buy Mow Lum Yip Individual 04. Oct 19 04. Oct 19 938,000 €0.15 €141,627
15. Oct 19 Buy Mow Lum Yip Individual 10. Oct 19 10. Oct 19 1,486,000 €0.15 €220,320
15. Oct 19 Buy Mow Lum Yip Individual 11. Oct 19 11. Oct 19 374,000 €0.15 €56,095
15. Oct 19 Buy Mow Lum Yip Individual 14. Oct 19 14. Oct 19 326,000 €0.15 €49,021
10. Oct 19 Buy Mow Lum Yip Individual 08. Oct 19 08. Oct 19 1,910,000 €0.15 €289,088
04. Oct 19 Buy Mow Lum Yip Individual 02. Oct 19 02. Oct 19 208,000 €0.15 €31,233
04. Oct 19 Buy Mow Lum Yip Individual 30. Sep 19 30. Sep 19 144,000 €0.15 €21,895
30. Sep 19 Buy Mow Lum Yip Individual 25. Sep 19 25. Sep 19 344,000 €0.15 €52,087
30. Sep 19 Buy Mow Lum Yip Individual 26. Sep 19 26. Sep 19 1,252,000 €0.15 €191,357
30. Sep 19 Buy Mow Lum Yip Individual 27. Sep 19 27. Sep 19 12,000 €0.15 €1,818
06. Sep 19 Buy Mow Lum Yip Individual 03. Sep 19 03. Sep 19 56,000 €0.15 €8,335
02. Sep 19 Buy Mow Lum Yip Individual 29. Aug 19 29. Aug 19 2,048,000 €0.15 €299,686
02. Sep 19 Buy Mow Lum Yip Individual 02. Sep 19 02. Sep 19 204,000 €0.15 €30,600
02. Sep 19 Buy Mow Lum Yip Individual 28. Aug 19 28. Aug 19 434,000 €0.15 €64,889
02. Sep 19 Buy Mow Lum Yip Individual 30. Aug 19 30. Aug 19 44,000 €0.15 €6,584
15. Aug 19 Buy Mow Lum Yip Individual 15. Aug 19 15. Aug 19 4,104,000 €0.14 €570,339
15. Aug 19 Buy Mow Lum Yip Individual 12. Aug 19 12. Aug 19 15,000,000 €0.12 €1,873,456
X
Management checks
We assess Bright Smart Securities & Commodities Group'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. Bright Smart Securities & Commodities Group 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

Bright Smart Securities & Commodities Group Limited, an investment holding company, provides financial services in Hong Kong. It operates through three segments: Securities Broking, Commodities and Futures Broking, and Bullion Trading. The company offers securities, commodities, and futures and stock options brokerage services; margin financing services; initial public offering brokerage and financing services; and forex and bullion trading services. It is also involved in the provision of asset management and administrative services; and production and broadcast finance programs. The company was incorporated in 2009 and is headquartered in Central, Hong Kong. Bright Smart Securities & Commodities Group Limited operates as a subsidiary of New Charming Holdings Ltd.

Details
Name: Bright Smart Securities & Commodities Group Limited
0BX
Exchange: DB
Founded: 2009
HK$171,810,442
1,697,296,308
Website: http://www.bsgroup.com.hk
Address: Bright Smart Securities & Commodities Group Limited
Wing On House,
10th Floor and 23th Floor,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1428 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 25. Aug 2010
DB 0BX Ordinary Shares Deutsche Boerse AG DE EUR 25. Aug 2010
Number of employees
Current staff
Staff numbers
282
Bright Smart Securities & Commodities Group employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 22:56
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2019/12/20
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.