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China Everbright

DB:EVI
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EVI
DB
HK$19B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

China Everbright Limited, through its subsidiaries, engages in the investment activities and provision of financial services in Hong Kong and Mainland China. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
  • China Everbright has significant price volatility in the past 3 months.
EVI Share Price and Events
7 Day Returns
3.9%
DB:EVI
3%
DE Capital Markets
2.2%
DE Market
1 Year Returns
-26.3%
DB:EVI
-6.9%
DE Capital Markets
-17.2%
DE Market
EVI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Everbright (EVI) 3.9% -11.4% -20% -26.3% -33.1% -54.7%
DE Capital Markets 3% -17.7% -13.1% -6.9% -24.7% -54.9%
DE Market 2.2% -15.7% -24% -17.2% -23.3% -27.8%
1 Year Return vs Industry and Market
  • EVI underperformed the Capital Markets industry which returned -6.9% over the past year.
  • EVI underperformed the Market in Germany which returned -17.2% over the past year.
Price Volatility
EVI
Industry
5yr Volatility vs Market

EVI Value

 Is China Everbright 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 China Everbright 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 China Everbright.

DB:EVI 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$24.13 * 9.6%
HK$2.33
Book Value of Equity per Share Median Book Value from the past 5 years. HK$24.13
Discount Rate (Cost of Equity) See below 8.5%
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:EVI
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))
= 0.753 (1 + (1- 25%) (164.73%))
1.458
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.46
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.458 * 6.07%)
8.46%

Discounted Cash Flow Calculation for DB:EVI using Excess Returns Model Model

The calculations below outline how an intrinsic value for China Everbright 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:EVI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.6% – 8.46%) * HK$24.13)
HK$0.29
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= HK$0.29 / (8.46% - -0.39%)
HK$3.24
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= HK$24.13 + HK$3.24
HK$27.37
DB:EVI Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:EVI represents 0.11786x of SEHK:165
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11786x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 27.37 x 0.11786
€3.23
Value per share (EUR) From above. €3.23
Current discount Discount to share price of €1.32
= -1 x (€1.32 - €3.23) / €3.23
59.1%

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

Current Discount
Amount off the current price China Everbright is available for.
Intrinsic value
>50%
Share price is €1.32 vs Future cash flow value of €3.23
Current Discount Checks
For China Everbright to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Everbright's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Everbright'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 China Everbright's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Everbright's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:EVI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in HKD HK$1.33
SEHK:165 Share Price ** SEHK (2020-04-01) in HKD HK$11.2
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 22.55x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.76x

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

** Primary Listing of China Everbright.

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

= SEHK:165 Share Price ÷ EPS (both in HKD)

= 11.2 ÷ 1.33

8.44x

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

  • China Everbright is good value based on earnings compared to the DE Capital Markets industry average.
  • China Everbright is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does China Everbright's expected growth come at a high price?
Raw Data
DB:EVI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 1.59x
Germany Market PEG Ratio Median Figure of 254 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 China Everbright, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Everbright's assets?
Raw Data
DB:EVI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in HKD HK$24.68
SEHK:165 Share Price * SEHK (2020-04-01) in HKD HK$11.2
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.44x
DB:EVI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:165 Share Price ÷ Book Value per Share (both in HKD)

= 11.2 ÷ 24.68

0.45x

* Primary Listing of China Everbright.

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

  • China Everbright is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess China Everbright'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. China Everbright 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.

EVI Future Performance

 How is China Everbright expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
7.6%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is China Everbright expected to grow at an attractive rate?
  • Unable to compare China Everbright's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare China Everbright's earnings growth to the Germany market average as no estimate data is available.
  • China Everbright's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:EVI Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:EVI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 7.6%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:EVI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:EVI Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 5,223 1
2020-12-31 4,482 1
2020-04-01
DB:EVI Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-12-31 4,503 -3,172 2,237
2019-09-30 4,141 -2,787 2,340
2019-06-30 3,780 -2,402 2,443
2019-03-31 4,146 -963 2,770
2018-12-31 4,513 476 3,097
2018-09-30 5,369 318 3,746
2018-06-30 6,224 160 4,395
2018-03-31 5,959 -323 4,168
2017-12-31 5,694 -806 3,941
2017-09-30 5,355 -559 4,049
2017-06-30 5,016 -313 4,158
2017-03-31 4,978 -779 4,077

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if China Everbright is high growth as no earnings estimate data is available.
  • China Everbright's revenue is expected to grow by 7.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:EVI 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 1 Analyst Estimates (S&P Global) See Below

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

DB:EVI Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2020-04-01
DB:EVI Past Financials Data
Date (Data in HKD Millions) EPS *
2019-12-31 1.33
2019-09-30 1.39
2019-06-30 1.45
2019-03-31 1.64
2018-12-31 1.84
2018-09-30 2.22
2018-06-30 2.61
2018-03-31 2.47
2017-12-31 2.34
2017-09-30 2.40
2017-06-30 2.47
2017-03-31 2.42

*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.
  • China Everbright is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess China Everbright'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.
China Everbright has a total score of 1/6, see the detailed checks below.

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

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

EVI Past Performance

  How has China Everbright 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 China Everbright'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.
  • China Everbright's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • China Everbright's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • China Everbright's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
China Everbright'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 China Everbright Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:EVI Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,502.91 2,237.17
2019-09-30 4,141.21 2,340.33 310.35
2019-06-30 3,779.51 2,443.50 596.99
2019-03-31 4,146.42 2,770.32 585.93
2018-12-31 4,513.32 3,097.14 574.88
2018-09-30 5,368.68 3,745.85 603.58
2018-06-30 6,224.03 4,394.56 622.26
2018-03-31 5,959.21 4,167.65 590.62
2017-12-31 5,694.39 3,940.74 558.98
2017-09-30 5,354.95 4,049.23 507.06
2017-06-30 5,015.51 4,157.71 470.87
2017-03-31 4,978.02 4,076.67 475.58
2016-12-31 4,940.54 3,995.64 480.28
2016-09-30 3,850.95 3,599.15 401.69
2016-06-30 2,761.36 3,202.66 334.15
2016-03-31 2,873.31 4,145.11 351.43
2015-12-31 2,985.26 5,087.57 368.72
2015-09-30 3,273.78 4,848.38 420.97
2015-06-30 3,562.30 4,609.20 480.15
2015-03-31 3,277.82 3,584.44 457.72
2014-12-31 2,993.34 2,559.69 435.30
2014-09-30 3,053.59 2,160.93 423.10
2014-06-30 3,113.85 1,762.18 410.90
2014-03-31 2,722.24 1,554.36 378.01
2013-12-31 2,330.63 1,346.55 345.12
2013-09-30 2,103.24 1,229.07 293.61
2013-06-30 1,875.84 1,111.60 242.09

*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.
  • China Everbright has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Everbright used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • China Everbright's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Everbright'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.
China Everbright has a total score of 1/6, 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.

EVI Health

 How is China Everbright'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 China Everbright's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Everbright is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Everbright's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of China Everbright'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 not covered by short term assets, assets are 0.6x 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 China Everbright Company Filings, last reported 3 months ago.

DB:EVI Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 43,787.37 30,960.71 13,197.50
2019-09-30 43,787.37 30,960.71 13,197.50
2019-06-30 42,960.10 26,689.90 13,966.00
2019-03-31 42,960.10 26,689.90 13,966.00
2018-12-31 41,380.20 26,082.98 9,484.28
2018-09-30 41,380.20 26,082.98 9,484.28
2018-06-30 42,533.23 28,245.09 7,279.24
2018-03-31 42,533.23 28,245.09 7,279.24
2017-12-31 42,345.00 24,457.91 7,062.74
2017-09-30 42,345.00 24,457.91 7,062.74
2017-06-30 39,323.57 21,001.41 5,362.30
2017-03-31 39,323.57 21,001.41 5,362.30
2016-12-31 39,486.40 19,590.54 7,626.27
2016-09-30 39,486.40 19,590.54 7,626.27
2016-06-30 39,649.03 15,387.56 8,899.48
2016-03-31 39,649.03 15,387.56 8,899.48
2015-12-31 42,947.51 14,510.96 8,572.97
2015-09-30 42,947.51 14,510.96 8,572.97
2015-06-30 44,797.17 11,302.97 6,120.28
2015-03-31 44,797.17 11,302.97 6,120.28
2014-12-31 38,190.59 9,143.00 6,762.31
2014-09-30 38,190.59 9,143.00 6,762.31
2014-06-30 31,603.34 4,441.50 6,207.54
2014-03-31 31,603.34 4,441.50 6,207.54
2013-12-31 31,728.91 3,641.94 4,872.85
2013-09-30 31,728.91 3,641.94 4,872.85
2013-06-30 31,063.68 2,245.04 6,102.27
  • China Everbright's level of debt (70.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24% vs 70.7% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess China Everbright'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. China Everbright has a total score of 1/6, 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.

EVI Dividends

 What is China Everbright'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
4.29%
Current annual income from China Everbright dividends. Estimated to be 4.92% next year.
If you bought €2,000 of China Everbright shares you are expected to receive €86 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?
  • China Everbright's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • China Everbright's dividend is below the markets top 25% of dividend payers in Germany (4.87%).
Upcoming dividend payment

Purchase China Everbright before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:EVI 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 1 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:EVI Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.63 1.00
2021-12-31 0.58 2.00
2020-12-31 0.48 2.00
2020-04-01
DB:EVI Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2020-03-19 0.480 4.425
2019-05-06 0.660 5.721
2018-04-16 0.850 5.805
2018-03-28 0.850 5.047
2017-04-18 0.750 4.231
2017-03-30 0.750 4.479
2016-05-18 0.750 4.877
2015-05-27 0.480 2.719
2014-04-15 0.310 2.055
2014-03-31 0.310 2.888
2013-04-10 0.260 2.352
2013-03-26 0.260 2.141
2012-09-05 0.410 3.393
2012-03-22 0.450 4.126
2011-08-25 0.450 3.906
2011-03-29 0.430 2.899
2010-03-25 0.400 2.179
2009-08-26 0.350 1.840
2009-04-07 0.240 1.312

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of China Everbright's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess China Everbright'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 China Everbright afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Everbright has a total score of 4/6, see the detailed checks below.


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

EVI Management

 What is the CEO of China Everbright'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
Wei Zhao
AGE 48
TENURE AS CEO 0.9 years
CEO Bio

Dr. Wei Zhao has been the Chief Executive Officer and Executive Director of China Everbright Ltd. since May 3, 2019. Prior to joining the Group, Dr. Zhao served as Vice President of China Reinsurance (Group) Corporation since September 2018 until 2019 and served as its Chief Financial Officer since March 2019 until 2019. He served as an Assistant to the President of China Reinsurance (Group) Corporation since September 2015 until September 2018. From March 2003 to June 2004, he was Deputy General Manager of the fund operation center of China Life Insurance (Group) Company. From June 2004 to April 2006, he served as Director-general of Account Management Centre of China Life Asset Management Company Limited. From April 2006 to February 2010, he served as General Manager of China Life Hong Kong Asset Management Company and President of China Life Franklin Asset Management Company Limited. From February 2010 to September 2011, he served as Vice President of New China Asset Management Corporation Limited. Since April 2012, he has been the Vice Chairman and General Manager of China Re AMC. Meanwhile. He has been Chairman of China Re AMC HK since April 2015. He served as a Non-Executive Director of Beijing Jingneng Clean Energy Co., Limited since December 29, 2016 until January 30, 2019. He was a Director of Asian Reinsurance Corporation. He served as a Non-Executive Director of China Everbright Bank Company Limited since February 11, 2015 until July 30, 2019. He has been Chairman of the Board of China Aircraft Leasing Group Holdings Limited since May 10, 2019. He served as Vice Chairman of China Re Asset Management Company Ltd., the Chairman of China Re Asset Management (Hong Kong) Company Limited and the Chairman of China ReCapital Management Company Limited, and served as a Non-executive Director of Beijing Jingneng Clean Energy Co., Limited from December 2016 to January 2019. Dr. Zhao graduated from Jilin University in China in May 1998 with a master’s degree in national economic planning and management and graduated from the Research Institute for Fiscal Science of Ministry of Finance in PRC with a doctorate degree in finance major in July 2005.

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

Average tenure and age of the China Everbright management team in years:

2.3
Average Tenure
50
Average Age
  • The tenure for the China Everbright management team is about average.
Management Team

Yunge Cai

TITLE
Executive Chairman
AGE
47
TENURE
3.3 yrs

Richard Tang

TITLE
CFO & Executive Director
COMPENSATION
HK$7M
AGE
57

Lianchen Yin

TITLE
Chief Investment Officer
COMPENSATION
HK$6M
AGE
53
TENURE
9.1 yrs

Mingao Zhang

TITLE
Chief Investment Officer & Executive Director
COMPENSATION
HK$6M
AGE
51
TENURE
2.3 yrs

Wei Zhao

TITLE
CEO & Executive Director
AGE
48
TENURE
0.9 yrs

Ping Yang

TITLE
Chief Investment Officer
AGE
49

Zhao Zehui

TITLE
Senior Investment Director
TENURE
2.3 yrs

Tung Hung Wong

TITLE
Chief Administration Officer
AGE
50

Desmond Chan

TITLE
General Counsel & Company Secretary
AGE
50

Frederick Tsang

TITLE
Chief Risk Officer
AGE
59
Board of Directors Tenure

Average tenure and age of the China Everbright board of directors in years:

3.1
Average Tenure
54.5
Average Age
  • The tenure for the China Everbright board of directors is about average.
Board of Directors

Yunge Cai

TITLE
Executive Chairman
AGE
47
TENURE
3.3 yrs

Richard Tang

TITLE
CFO & Executive Director
COMPENSATION
HK$7M
AGE
57
TENURE
12.8 yrs

Lianchen Yin

TITLE
Chief Investment Officer
COMPENSATION
HK$6M
AGE
53
TENURE
2.8 yrs

Mingao Zhang

TITLE
Chief Investment Officer & Executive Director
COMPENSATION
HK$6M
AGE
51
TENURE
2.3 yrs

Wei Zhao

TITLE
CEO & Executive Director
AGE
48
TENURE
0.9 yrs

Hongfei Chen

TITLE
President of Everbright Jiabao & Chairman and CEO of EBA Investments

Zhijun Lin

TITLE
Independent Non-Executive Director
COMPENSATION
HK$445K
AGE
64
TENURE
14.6 yrs

Timpson Chung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$483K
AGE
68
TENURE
7.7 yrs

Stephen Law

TITLE
Independent Non-Executive Director
COMPENSATION
HK$316K
AGE
56
TENURE
1.9 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 (€)
23. Dec 19 Buy UBS Asset Management Company 18. Dec 19 18. Dec 19 400,000 €1.56 €624,923
10. Dec 19 Buy UBS Asset Management Company 05. Dec 19 05. Dec 19 1,518,000 €1.43 €2,166,631
29. Nov 19 Buy Mingao Zhang Individual 27. Nov 19 27. Nov 19 971 €1.48 €1,438
29. Nov 19 Buy Wei Zhao Individual 27. Nov 19 27. Nov 19 1,942 €1.48 €2,877
29. Nov 19 Buy Lianchen Yin Individual 27. Nov 19 27. Nov 19 544 €1.48 €806
29. Nov 19 Buy Chi Chun Tang Individual 27. Nov 19 27. Nov 19 971 €1.48 €1,438
26. Nov 19 Buy Mingao Zhang Individual 22. Nov 19 22. Nov 19 56,322 €1.48 €83,291
26. Nov 19 Buy Wei Zhao Individual 22. Nov 19 22. Nov 19 112,645 €1.48 €166,583
26. Nov 19 Buy Lianchen Yin Individual 22. Nov 19 22. Nov 19 31,541 €1.48 €46,644
26. Nov 19 Buy Chi Chun Tang Individual 22. Nov 19 22. Nov 19 56,322 €1.48 €83,291
22. Nov 19 Buy UBS Asset Management Company 19. Nov 19 19. Nov 19 1,856,000 €1.50 €2,783,384
30. Oct 19 Buy Mingao Zhang Individual 29. Oct 19 29. Oct 19 94,963 €1.31 €124,755
30. Oct 19 Buy Wei Zhao Individual 29. Oct 19 29. Oct 19 189,927 €1.31 €249,512
30. Oct 19 Buy Chi Chun Tang Individual 29. Oct 19 29. Oct 19 94,963 €1.31 €124,755
30. Oct 19 Buy Mingao Zhang Individual 25. Oct 19 25. Oct 19 43,993 €1.31 €57,658
30. Oct 19 Buy Wei Zhao Individual 25. Oct 19 25. Oct 19 87,986 €1.31 €115,316
30. Oct 19 Buy Chi Chun Tang Individual 25. Oct 19 25. Oct 19 43,993 €1.31 €57,658
30. Oct 19 Buy Mingao Zhang Individual 28. Oct 19 28. Oct 19 73,726 €1.32 €97,198
30. Oct 19 Buy Wei Zhao Individual 28. Oct 19 28. Oct 19 147,451 €1.32 €194,394
30. Oct 19 Buy Chi Chun Tang Individual 28. Oct 19 28. Oct 19 73,726 €1.32 €97,198
24. Apr 19 Sell Shuang Chen Individual 23. Apr 19 23. Apr 19 -50,000 €1.66 €-82,825
X
Management checks
We assess China Everbright'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. China Everbright 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.

EVI News

Simply Wall St News

EVI Company Info

Description

China Everbright Limited, through its subsidiaries, engages in the investment activities and provision of financial services in Hong Kong and Mainland China. The company invests in unlisted equity securities and/or equity derivatives, as well as in the start-up and development stage companies. It also focuses on long term equity investment in real estate, infrastructure, medical and healthcare, resources assets, manufacturing, technology, media, and telecom sectors. In addition, the company is involved in the private equity investment, pre-IPO financing, and structured financing for listed companies; and treasury management operations. Further, it provides a range of financial services, including asset management, investment management, and investment advisory services related to absolute return funds, bond funds, and equity funds, as well as offers secretarial, money lending, fund management, venture capital, leasing, and consultancy services. The company was founded in 1997 and is headquartered in Hong Kong. China Everbright Limited is a subsidiary of Honorich Holdings Limited.

Details
Name: China Everbright Limited
EVI
Exchange: DB
Founded: 1997
HK$2,226,358,379
1,685,254,000
Website: http://www.everbright.com
Address: China Everbright Limited
Far East Finance Centre,
46th Floor,
Hong Kong,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 165 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK CEVI.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB EVI Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
SHSC 165 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 02. Jan 1992
SZSC 165 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 02. Jan 1992
OTCPK CEVI.Y UNSPONSORD ADR Pink Sheets LLC US USD 06. Nov 2008
Number of employees
Current staff
Staff numbers
363
China Everbright employees.
Industry
Diversified Capital Markets
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 22:54
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/25
Last earnings filing: 2020/03/19
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.