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Shengli Oil & Gas Pipe Holdings

DB:GSG
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GSG
DB
HK$187M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Shengli Oil & Gas Pipe Holdings Limited, an investment holding company, engages in the manufacture, processing, and sale of welded pipes for oil and gas pipeline, and other construction and manufacturing applications primarily in Mainland China. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
  • Shengli Oil & Gas Pipe Holdings has significant price volatility in the past 3 months.
GSG Share Price and Events
7 Day Returns
450%
DB:GSG
8.1%
Europe Energy Services
-0.6%
DE Market
1 Year Returns
-57.7%
DB:GSG
-57.2%
Europe Energy Services
-20.9%
DE Market
GSG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shengli Oil & Gas Pipe Holdings (GSG) 450% -8.3% -38.9% -57.7% -83.8% -87.2%
Europe Energy Services 8.1% -27.8% -50.1% -57.2% -65.6% -87.6%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • GSG matched the Energy Services industry (-57.2%) over the past year.
  • GSG underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
GSG
Industry
5yr Volatility vs Market

Value

 Is Shengli Oil & Gas Pipe Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shengli Oil & Gas Pipe Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shengli Oil & Gas Pipe Holdings.

DB:GSG 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 12.3%
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:GSG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 25%) (457.2%))
3.035
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 6.33%)
12.27%

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

The calculations below outline how an intrinsic value for Shengli Oil & Gas Pipe Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:GSG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 12.27%)
2020 190.46 Est @ -0.39% 169.64
2021 189.71 Est @ -0.39% 150.51
2022 188.97 Est @ -0.39% 133.53
2023 188.23 Est @ -0.39% 118.47
2024 187.49 Est @ -0.39% 105.11
2025 186.76 Est @ -0.39% 93.26
2026 186.03 Est @ -0.39% 82.74
2027 185.30 Est @ -0.39% 73.41
2028 184.58 Est @ -0.39% 65.13
2029 183.86 Est @ -0.39% 57.79
Present value of next 10 years cash flows CN¥1,049.00
DB:GSG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥183.86 × (1 + -0.39%) ÷ (12.27% – -0.39%)
CN¥1,446.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥1,446.62 ÷ (1 + 12.27%)10
CN¥454.69
DB:GSG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥1,049.00 + CN¥454.69
CN¥1,503.69
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥1,503.69 / 3,274.37
CN¥0.46
DB:GSG Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1080)
1.093
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.46 x 1.093
HK$0.5
Non-primary Listing Adjustment Factor 1 share in DB:GSG represents 0.09649x of SEHK:1080
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.09649x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.50 x 0.09649
€0.05
Value per share (EUR) From above. €0.05
Current discount Discount to share price of €0.01
= -1 x (€0.01 - €0.05) / €0.05
88.6%

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

Current Discount
Amount off the current price Shengli Oil & Gas Pipe Holdings is available for.
Intrinsic value
>50%
Share price is €0.0055 vs Future cash flow value of €0.04843
Current Discount Checks
For Shengli Oil & Gas Pipe Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shengli Oil & Gas Pipe Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Shengli Oil & Gas Pipe Holdings'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 Shengli Oil & Gas Pipe Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shengli Oil & Gas Pipe Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GSG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥-0.04
SEHK:1080 Share Price ** SEHK (2020-04-06) in HKD HK$0.06
SEHK:1080 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥0.05
Europe Energy Services Industry PE Ratio Median Figure of 31 Publicly-Listed Energy Services Companies 8.85x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

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

** Primary Listing of Shengli Oil & Gas Pipe Holdings.

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

= SEHK:1080 Share Price ÷ EPS (both in CNY)

= 0.05 ÷ -0.04

-1.23x

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

  • Shengli Oil & Gas Pipe Holdings is loss making, we can't compare its value to the Europe Energy Services industry average.
  • Shengli Oil & Gas Pipe Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Shengli Oil & Gas Pipe Holdings's expected growth come at a high price?
Raw Data
DB:GSG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Energy Services Industry PEG Ratio Median Figure of 20 Publicly-Listed Energy Services Companies 0.51x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*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 Shengli Oil & Gas Pipe Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Shengli Oil & Gas Pipe Holdings's assets?
Raw Data
DB:GSG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥0.36
SEHK:1080 Share Price * SEHK (2020-04-06) in HKD HK$0.06
SEHK:1080 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥0.05
Europe Energy Services Industry PB Ratio Median Figure of 70 Publicly-Listed Energy Services Companies 0.4x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:GSG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1080 Share Price ÷ Book Value per Share (both in CNY)

= 0.05 ÷ 0.36

0.14x

* Primary Listing of Shengli Oil & Gas Pipe Holdings.

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

  • Shengli Oil & Gas Pipe Holdings is good value based on assets compared to the Europe Energy Services industry average.
X
Value checks
We assess Shengli Oil & Gas Pipe Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Energy Services 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 Energy Services industry average (and greater than 0)? (1 check)
  5. Shengli Oil & Gas Pipe Holdings has a total score of 3/6, 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 Shengli Oil & Gas Pipe Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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

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

Show me the analysis anyway

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
21.1%
Expected Energy Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shengli Oil & Gas Pipe Holdings expected to grow at an attractive rate?
  • Unable to compare Shengli Oil & Gas Pipe Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Shengli Oil & Gas Pipe Holdings's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Shengli Oil & Gas Pipe Holdings's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:GSG Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 21.1%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average -0.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:GSG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GSG Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 863 -139
2019-09-30 907 -116
2019-06-30 951 222 -93
2019-03-31 932 218 -74
2018-12-31 913 214 -54
2018-09-30 1,142 366 -101
2018-06-30 1,371 518 -147
2018-03-31 1,764 514 -199
2017-12-31 2,156 510 -251
2017-09-30 2,790 234 -240
2017-06-30 3,423 -42 -228
2017-03-31 3,274 -139 -219

*GAAP earnings excluding extraordinary items.

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

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

DB:GSG Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 -0.04
2019-09-30 -0.04
2019-06-30 -0.03
2019-03-31 -0.02
2018-12-31 -0.02
2018-09-30 -0.03
2018-06-30 -0.04
2018-03-31 -0.06
2017-12-31 -0.08
2017-09-30 -0.07
2017-06-30 -0.07
2017-03-31 -0.07

*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 Shengli Oil & Gas Pipe Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Shengli Oil & Gas Pipe Holdings is trading at Shengli Oil & Gas Pipe Holdings'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. Shengli Oil & Gas Pipe Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. Shengli Oil & Gas Pipe Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Shengli Oil & Gas Pipe Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Shengli Oil & Gas Pipe Holdings has a total score of 0/6, see the detailed checks below.

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

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

Past Performance

  How has Shengli Oil & Gas Pipe Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shengli Oil & Gas Pipe Holdings's growth in the last year to its industry (Energy Services).
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.
  • Shengli Oil & Gas Pipe Holdings does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Shengli Oil & Gas Pipe Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Shengli Oil & Gas Pipe Holdings's 1-year growth to the Europe Energy Services industry average as it is not currently profitable.
Earnings and Revenue History
Shengli Oil & Gas Pipe Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

DB:GSG Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 862.97 -138.57 236.56
2019-09-30 906.91 -115.85 210.28
2019-06-30 950.86 -93.15 183.97
2019-03-31 932.13 -73.66 194.17
2018-12-31 913.39 -54.17 204.37
2018-09-30 1,142.41 -100.57 228.14
2018-06-30 1,371.42 -146.95 251.95
2018-03-31 1,763.59 -198.89 269.80
2017-12-31 2,155.75 -250.83 287.66
2017-09-30 2,789.51 -239.56 278.40
2017-06-30 3,423.26 -228.29 269.15
2017-03-31 3,274.27 -219.39 260.04
2016-12-31 3,125.28 -210.49 250.92
2016-09-30 2,428.90 -253.29 295.75
2016-06-30 1,732.52 -296.08 340.58
2016-03-31 1,843.24 -299.10 337.11
2015-12-31 1,953.96 -302.13 333.63
2015-09-30 2,062.60 -285.61 295.18
2015-06-30 2,171.24 -269.08 256.73
2015-03-31 2,090.15 -244.13 223.13
2014-12-31 2,009.06 -219.18 189.52
2014-09-30 2,081.47 -135.79 157.80
2014-06-30 2,153.89 -52.40 126.09
2014-03-31 2,355.30 -17.28 126.89
2013-12-31 2,556.72 17.83 127.70
2013-09-30 2,600.78 39.85 124.10
2013-06-30 2,644.84 61.87 120.49

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Shengli Oil & Gas Pipe Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Shengli Oil & Gas Pipe Holdings has efficiently used its assets last year compared to the Europe Energy Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Shengli Oil & Gas Pipe Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Shengli Oil & Gas Pipe Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Energy Services 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.
Shengli Oil & Gas Pipe Holdings has a total score of 0/6, see the detailed checks below.

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

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

Health

 How is Shengli Oil & Gas Pipe Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Shengli Oil & Gas Pipe Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shengli Oil & Gas Pipe Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Shengli Oil & Gas Pipe Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shengli Oil & Gas Pipe Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.4x 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 Shengli Oil & Gas Pipe Holdings Company Filings, last reported 3 months ago.

DB:GSG Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,243.25 777.21 99.54
2019-09-30 1,243.25 777.21 99.54
2019-06-30 1,353.67 835.39 66.68
2019-03-31 1,353.67 835.39 66.68
2018-12-31 1,420.97 848.76 106.08
2018-09-30 1,420.97 848.76 106.08
2018-06-30 1,437.41 856.42 28.18
2018-03-31 1,437.41 856.42 28.18
2017-12-31 1,462.08 891.88 36.07
2017-09-30 1,462.08 891.88 36.07
2017-06-30 1,628.52 876.72 49.58
2017-03-31 1,628.52 876.72 49.58
2016-12-31 1,769.36 974.00 228.35
2016-09-30 1,769.36 974.00 228.35
2016-06-30 1,879.53 838.75 264.11
2016-03-31 1,879.53 838.75 264.11
2015-12-31 1,858.95 1,099.54 393.88
2015-09-30 1,858.95 1,099.54 393.88
2015-06-30 2,061.22 1,196.69 295.19
2015-03-31 2,061.22 1,196.69 295.19
2014-12-31 2,191.66 1,064.79 216.01
2014-09-30 2,191.66 1,064.79 216.01
2014-06-30 2,281.98 1,167.26 222.47
2014-03-31 2,281.98 1,167.26 222.47
2013-12-31 2,342.10 1,559.62 202.72
2013-09-30 2,342.10 1,559.62 202.72
2013-06-30 2,354.04 1,435.87 228.74
  • Shengli Oil & Gas Pipe Holdings's level of debt (62.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (48.7% vs 62.5% today).
  • Debt is well covered by operating cash flow (28.6%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Shengli Oil & Gas Pipe Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Shengli Oil & Gas Pipe Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Shengli Oil & Gas Pipe Holdings has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Shengli Oil & Gas Pipe Holdings's current dividend yield, its reliability and sustainability?

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

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:GSG 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
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:GSG Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2015-09-10 0.000 0.000
2015-08-24 0.000 0.000
2015-04-27 0.000 0.000
2015-03-30 0.000 0.000
2014-07-21 0.001 0.374
2013-08-12 0.007 1.878
2012-03-12 0.009 1.746
2011-03-30 0.009 1.138
2010-04-16 0.018 1.259

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

  • Unable to perform a dividend volatility check as Shengli Oil & Gas Pipe Holdings has not reported any payouts.
  • Unable to verify if Shengli Oil & Gas Pipe Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Shengli Oil & Gas Pipe Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Shengli Oil & Gas Pipe Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Shengli Oil & Gas Pipe Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shengli Oil & Gas Pipe Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shengli Oil & Gas Pipe Holdings has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of Shengli Oil & Gas Pipe Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bizhuang Zhang
COMPENSATION CN¥1,673,000
AGE 51
TENURE AS CEO 10.8 years
CEO Bio

Mr. Bizhuang Zhang has been the Chief Executive Officer of Shengli Oil & Gas Pipe Holdings Limited since July 2009. Mr. Zhang has been General Manager of Shandong Shengli Steel Pipe Co., Ltd. since December 2008 and is responsible for the overall management of its business operations. From July 1996 to June 2004, Mr. Zhang served Deputy Manager and Manager of Shengli Oilfield ZiboPipe Co., Ltd., and was responsible for the management of its operations. From June 2004 to December 2008, he served as General Manager of Shengli Steel Pipe and was responsible for its overall operational management. From December 2007 to December 2008, he was General Manager of Shandong Shengli. He started his career in Shengli Oilfield Zibo Pipe from July 1990 to September 1996 as a technician and was subsequently promoted to department head of technical supervision and then to department head of quality control inspection, where he was responsible for quality control management. He has been the Chairman at Shandong Shengli Steel Pipe Co., Ltd. since December 2008. He has been the Non-executive chairman of Shengli Steel Pipe Since December 2008 and is responsible for the management of major decisions in its operation. He served as the Chairman of Shengli Oil & Gas Pipe Holdings Limited from August 09, 2012 to April 12, 2016. From July 1996 to June 2004, Mr. Zhang served as the Chairman and Vice Chairman of Shengli Oilfield ZiboPipe Co., Ltd. From March 2004 to December 2008, he was the Chairman of Shengli Steel Pipe, responsible for its overall management. From April 2005 to December 2007, Mr. Zhang was the Chairman of Rizhao Shengli. He was the Chairman of Shandong Shengda Chemical Company Limited from July 2006 to December 2008 and was the Chairman and Director of Shengli Coating from January 2001 to December 2008. Mr. Zhang has been an Executive Director at Shengli Oil & Gas Pipe Holdings Limited since July 3, 2009. From December 2007 to December 2008, he was an Executive Director of Shandong Shengli. He was awarded the Technological Improvement (Third Class) Award, in recognition of his efforts on the transformation in anti-corrosion (internal and external) coating lines and the Technological Improvement (First Class) Award, in recognition of his contribution in the transformation of SSAW pipes equipment in the West-East Gas Pipeline Project, both by the Sinopec Group Shengli PetroleumAdministrative Bureau in June 2003. He was a member of the second annual China Petroleum Materials and Equipment on Export Network in September 1999. Mr. Zhang was certified as a senior engineer in November 2000 by the Sinopec Group Shengli Petroleum Administrative Bureau and obtained the Chinese Career Manager qualification from the Chinese Career Manager Coalition in July 2005. He graduated from Chongqing University with a bachelors degree in metallurgical and materials engineering in July 1990 and graduated from the Open University of Hong Kong with a masters degree in business administration in June 2004.

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

Bizhuang Zhang

TITLE
CEO & Executive Director
COMPENSATION
CN¥2M
AGE
51
TENURE
10.8 yrs

Aizhi Han

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
51

Kunxian Wang

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
50

Xichen Song

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
54

Kam Le Hong

TITLE
Company Secretary
AGE
40
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the Shengli Oil & Gas Pipe Holdings board of directors in years:

6.9
Average Tenure
51
Average Age
  • The tenure for the Shengli Oil & Gas Pipe Holdings board of directors is about average.
Board of Directors

Jun Wei

TITLE
Chairman
AGE
51
TENURE
1.3 yrs

Bizhuang Zhang

TITLE
CEO & Executive Director
COMPENSATION
CN¥2M
AGE
51
TENURE
10.8 yrs

Aizhi Han

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
51
TENURE
10.8 yrs

Kunxian Wang

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
50
TENURE
5.7 yrs

Xichen Song

TITLE
VP & Executive Director
COMPENSATION
CN¥1M
AGE
54
TENURE
8 yrs

Junzhu Chen

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥441K
AGE
43
TENURE
6.9 yrs

Geng Wu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥441K
AGE
47
TENURE
5.1 yrs

Jianmin Qiao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥441K
AGE
59
TENURE
4 yrs

Yong Jiang

TITLE
Non-Executive Director
COMPENSATION
CN¥1M
AGE
51
TENURE
7.7 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 Shengli Oil & Gas Pipe Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Shengli Oil & Gas Pipe Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

News

Simply Wall St News

Company Info

Description

Shengli Oil & Gas Pipe Holdings Limited, an investment holding company, engages in the manufacture, processing, and sale of welded pipes for oil and gas pipeline, and other construction and manufacturing applications primarily in Mainland China. The company operates through two segments, Pipes Business and Trading Business. It produces submerged-arc helical and longitudinal welded pipes that are primarily used to transport crude oil, refined petroleum products, natural gas, and other related products; and cold-formed section steel used in the oil and infrastructure industry. The company is also involved in the trading of coal. In addition, it engages in the provision of anti-corrosion services for oil and gas pipelines, and other construction and manufacturing applications. The company was founded in 1972 and is headquartered in Zibo, the People’s Republic of China.

Details
Name: Shengli Oil & Gas Pipe Holdings Limited
GSG
Exchange: DB
Founded: 1972
HK$22,262,446
3,274,365,600
Website: http://www.slogp.com
Address: Shengli Oil & Gas Pipe Holdings Limited
Zhongbu Town,
Zhangdian District,
Zibo,
Shandong Province, 255082,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1080 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 18. Dec 2009
DB GSG Ordinary Shares Deutsche Boerse AG DE EUR 18. Dec 2009
Number of employees
Current staff
Staff numbers
1,009
Shengli Oil & Gas Pipe Holdings employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 23:33
End of day share price update: 2020/04/06 00:00
Last earnings filing: 2020/03/29
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.