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China Tontine Wines Group

DB:CTE
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CTE
DB
HK$280M
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

China Tontine Wines Group Limited, an investment holding company, produces and sells grape wine products. The last earnings update was 38 days ago. More info.


Add to Portfolio Compare Print
  • China Tontine Wines Group has significant price volatility in the past 3 months.
CTE Share Price and Events
7 Day Returns
-27.3%
DB:CTE
-0.5%
DE Beverage
2.8%
DE Market
1 Year Returns
33.3%
DB:CTE
5.6%
DE Beverage
3%
DE Market
CTE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Tontine Wines Group (CTE) -27.3% -33.3% 128.6% 33.3% -63.6% -68%
DE Beverage -0.5% 2.4% -0.7% 5.6% 30% 68%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • CTE outperformed the Beverage industry which returned 5.6% over the past year.
  • CTE outperformed the Market in Germany which returned 3% over the past year.
Price Volatility
CTE
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Tontine Wines Group's competitors could be found in our database.

CTE Value

 Is China Tontine Wines 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 China Tontine Wines 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 China Tontine Wines Group.

DB:CTE 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 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:CTE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.51
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.508 (1 + (1- 25%) (15.82%))
0.71
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

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

The calculations below outline how an intrinsic value for China Tontine Wines Group 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:CTE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 5%)
2020 36.51 Est @ 105.07% 34.77
2021 63.39 Est @ 73.62% 57.50
2022 96.09 Est @ 51.6% 83.02
2023 130.87 Est @ 36.19% 107.68
2024 164.11 Est @ 25.4% 128.61
2025 193.41 Est @ 17.85% 144.36
2026 217.71 Est @ 12.56% 154.76
2027 237.00 Est @ 8.86% 160.46
2028 251.86 Est @ 6.27% 162.41
2029 263.09 Est @ 4.46% 161.58
Present value of next 10 years cash flows CN¥1,195.00
DB:CTE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥263.09 × (1 + 0.23%) ÷ (5% – 0.23%)
CN¥5,530.50
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥5,530.50 ÷ (1 + 5%)10
CN¥3,396.54
DB:CTE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥1,195.00 + CN¥3,396.54
CN¥4,591.54
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥4,591.54 / 2,013.02
CN¥2.28
DB:CTE Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:389)
1.107
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥2.28 x 1.107
HK$2.52
Non-primary Listing Adjustment Factor 1 share in DB:CTE represents 0.05755x of SEHK:389
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.05755x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 2.52 x 0.05755
€0.15
Value per share (EUR) From above. €0.15
Current discount Discount to share price of €0.01
= -1 x (€0.01 - €0.15) / €0.15
94.5%

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

Current Discount
Amount off the current price China Tontine Wines Group is available for.
Intrinsic value
>50%
Share price is €0.008 vs Future cash flow value of €0.14528
Current Discount Checks
For China Tontine Wines Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Tontine Wines Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Tontine Wines 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 China Tontine Wines Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Tontine Wines Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CTE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CNY CN¥-0.01
SEHK:389 Share Price ** SEHK (2019-10-11) in HKD HK$0.14
SEHK:389 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥0.13
Germany Beverage Industry PE Ratio Median Figure of 7 Publicly-Listed Beverage Companies 27.57x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of China Tontine Wines Group.

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

= SEHK:389 Share Price ÷ EPS (both in CNY)

= 0.13 ÷ -0.01

-16.67x

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

  • China Tontine Wines Group is loss making, we can't compare its value to the DE Beverage industry average.
  • China Tontine Wines Group is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does China Tontine Wines Group's expected growth come at a high price?
Raw Data
DB:CTE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -16.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Beverage Industry PEG Ratio Median Figure of 31 Publicly-Listed Beverage Companies 2.84x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*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 Tontine Wines Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on China Tontine Wines Group's assets?
Raw Data
DB:CTE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CNY CN¥0.29
SEHK:389 Share Price * SEHK (2019-10-11) in HKD HK$0.14
SEHK:389 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.904 CN¥0.13
Germany Beverage Industry PB Ratio Median Figure of 8 Publicly-Listed Beverage Companies 1.56x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:CTE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:389 Share Price ÷ Book Value per Share (both in CNY)

= 0.13 ÷ 0.29

0.43x

* Primary Listing of China Tontine Wines Group.

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

  • China Tontine Wines Group is good value based on assets compared to the DE Beverage industry average.
X
Value checks
We assess China Tontine Wines 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 Beverage 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 Beverage industry average (and greater than 0)? (1 check)
  5. China Tontine Wines Group 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.

CTE Future Performance

 How is China Tontine Wines 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 China Tontine Wines 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
-0.6%
Expected Beverage industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Tontine Wines Group expected to grow at an attractive rate?
  • Unable to compare China Tontine Wines Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare China Tontine Wines Group's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare China Tontine Wines Group's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:CTE Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Beverage Industry Earnings Growth Rate Market Cap Weighted Average -0.6%
Europe Beverage Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:CTE 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:CTE Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:CTE Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-06-30 359 31 -15
2019-03-31 357 21 -9
2018-12-31 355 10 -4
2018-09-30 379 13 7
2018-06-30 403 15 18
2018-03-31 363 4 -11
2017-12-31 324 -8 -40
2017-09-30 249 -63 -93
2017-06-30 174 -117 -146
2017-03-31 223 -70 -120
2016-12-31 271 -24 -93
2016-09-30 302 -40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if China Tontine Wines Group is high growth as no earnings estimate data is available.
  • Unable to determine if China Tontine Wines 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:CTE 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 China Tontine Wines Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CTE Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:CTE Past Financials Data
Date (Data in CNY Millions) EPS *
2019-06-30 -0.01
2019-03-31 0.00
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.01
2018-03-31 -0.01
2017-12-31 -0.02
2017-09-30 -0.05
2017-06-30 -0.07
2017-03-31 -0.06
2016-12-31 -0.05
2016-09-30 -0.02

*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 China Tontine Wines Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether China Tontine Wines Group is trading at China Tontine Wines 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. China Tontine Wines 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 Food, Beverage & Tobacco companies here
  3. China Tontine Wines 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 China Tontine Wines 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 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.
China Tontine Wines 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.

CTE Past Performance

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

DB:CTE Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 359.28 -15.17 71.76
2019-03-31 357.09 -9.41 74.40
2018-12-31 354.91 -3.65 77.04
2018-09-30 378.96 7.30 80.51
2018-06-30 403.00 18.25 83.98
2018-03-31 363.28 -10.65 98.31
2017-12-31 323.56 -39.55 112.65
2017-09-30 248.94 -92.86 160.49
2017-06-30 174.31 -146.17 208.33
2017-03-31 222.82 -119.73 193.94
2016-12-31 271.33 -93.29 179.54
2016-09-30 302.00 -40.01 130.77
2016-06-30 332.67 13.27 82.00
2016-03-31 313.18 11.42 82.50
2015-12-31 293.69 9.58 83.00
2015-09-30 289.14 -255.08 149.84
2015-06-30 284.60 -517.61 216.69
2015-03-31 285.46 -588.29 275.60
2014-12-31 286.32 -658.97 334.51
2014-09-30 267.28 -604.51 347.76
2014-06-30 248.24 -550.05 361.01
2014-03-31 212.12 -526.95 326.72
2013-12-31 176.00 -503.86 292.44
2013-09-30 261.75 -288.01 235.72
2013-06-30 347.51 -72.16 179.00
2013-03-31 502.81 8.35 188.14
2012-12-31 658.11 88.87 197.28

*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 China Tontine Wines Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if China Tontine Wines Group has efficiently used its assets last year compared to the DE Beverage industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if China Tontine Wines Group 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 China Tontine Wines 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 Beverage 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 Tontine Wines Group 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.

CTE Health

 How is China Tontine Wines 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 China Tontine Wines Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Tontine Wines Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Tontine Wines Group has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of China Tontine Wines 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 13.4x 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 China Tontine Wines Group Company Filings, last reported 3 months ago.

DB:CTE Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 663.76 40.00 221.67
2019-03-31 663.76 40.00 221.67
2018-12-31 655.01 0.00 152.85
2018-09-30 655.01 0.00 152.85
2018-06-30 673.65 0.00 160.09
2018-03-31 673.65 0.00 160.09
2017-12-31 651.46 0.00 153.65
2017-09-30 651.46 0.00 153.65
2017-06-30 647.38 1.18 168.25
2017-03-31 647.38 1.18 168.25
2016-12-31 688.55 7.10 181.68
2016-09-30 688.55 7.10 181.68
2016-06-30 804.37 0.00 285.80
2016-03-31 804.37 0.00 285.80
2015-12-31 779.60 0.00 201.94
2015-09-30 769.67 0.00 201.94
2015-06-30 767.55 0.00 257.87
2015-03-31 767.55 0.00 257.87
2014-12-31 756.24 0.00 172.61
2014-09-30 756.24 0.00 172.61
2014-06-30 1,360.45 0.00 462.90
2014-03-31 1,360.45 0.00 462.90
2013-12-31 1,497.10 0.00 530.92
2013-09-30 1,497.10 0.00 530.92
2013-06-30 1,766.00 0.00 981.05
2013-03-31 1,766.00 0.00 981.05
2012-12-31 1,851.56 0.00 1,104.90
  • China Tontine Wines Group's level of debt (6%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if China Tontine Wines Group's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making China Tontine Wines Group has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making China Tontine Wines Group has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -59% per year.
X
Financial health checks
We assess China Tontine Wines 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. China Tontine Wines Group has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

CTE Dividends

 What is China Tontine Wines 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
0%
Current annual income from China Tontine Wines Group dividends.
If you bought €2,000 of China Tontine Wines Group 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 China Tontine Wines Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate China Tontine Wines Group'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:CTE 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 Beverage Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:CTE Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
DB:CTE Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2013-09-11 0.000 0.000
2013-08-28 0.000 0.000
2013-03-27 0.000 0.000
2013-03-21 0.000 0.000
2012-03-22 0.023 3.895
2011-03-21 0.024 2.867
2010-04-22 0.025 1.680
2010-04-15 0.025 1.666

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

  • Unable to perform a dividend volatility check as China Tontine Wines Group has not reported any payouts.
  • Unable to verify if China Tontine Wines Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of China Tontine Wines Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as China Tontine Wines Group 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 China Tontine Wines Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Tontine Wines Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Tontine Wines Group 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.

CTE Management

 What is the CEO of China Tontine Wines 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
Guangyuan Wang
COMPENSATION CN¥1,688,000
AGE 58
TENURE AS CEO 11.1 years
CEO Bio

Mr. Guangyuan Wang has been the Chief Executive Officer of China Tontine Wines Group Limited since September 8, 2008. Mr. Wang Founded Tonghua Tongtian Winery Co. Ltd. in 2001. From November 1986 to August 2000, he served with Tonhwa Winery Limited, a wine company curently listed on the Shanghai Stock Exchange and in September 1995 he was promoted to Deputy General Manager. Mr. Wang serves as the Chairman of the Board at China Tontine Wines Group Limited and has been its Executive Director since September 8, 2008. Mr. Wang is a member of the People's Representative of Tonghua City 5th People's Congress, the Vice Chairman of Tonghua County Industry and Commerce Association and Tonghua County Non-government Commerce Chamber, a standing director of Tonghua City Young Entrepreneurs Association and a member of the 10th Executive Committee of Jilin Provincial Young Entrepreneurs. Mr. Wang was awarded as the Outstanding Worker of Tonghua County 1996-2001 (1996-2001 ) by People's Government of Tonghua County in October 2002. He was also confered the title of Excellent Sales Manager jointly by China Winery Industry Association Grape Wine Sub-branch and China Agriculture Association Grape Sub-branch in June 2006. He was certified as a senior economist by the Ministry of Finance of the PRC on May 29, 2003. Mr. Wang obtained a bachelor's degree of business management from Jilin University in July 1993.

CEO Compensation
  • Guangyuan's compensation has increased whilst company is loss making.
  • Guangyuan's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the China Tontine Wines Group management team in years:

2
Average Tenure
51
Average Age
  • The tenure for the China Tontine Wines Group management team is about average.
Management Team

Guangyuan Wang

TITLE
Chairman & CEO
COMPENSATION
CN¥2M
AGE
58
TENURE
11.1 yrs

Hebin Zhang

TITLE
Executive Director
COMPENSATION
CN¥620K
AGE
59

Lijun Wang

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥588K
AGE
51

Wang Xiaoming

TITLE
President
AGE
50

Dan Zhao

TITLE
CFO & Deputy GM
AGE
40
TENURE
1.3 yrs

Jun Wang

TITLE
Chief Winemaker
AGE
56
TENURE
2.8 yrs

Kwok Kuen Wong

TITLE
Company Secretary
AGE
45
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the China Tontine Wines Group board of directors in years:

3.8
Average Tenure
57.5
Average Age
  • The tenure for the China Tontine Wines Group board of directors is about average.
Board of Directors

Guangyuan Wang

TITLE
Chairman & CEO
COMPENSATION
CN¥2M
AGE
58

Hebin Zhang

TITLE
Executive Director
COMPENSATION
CN¥620K
AGE
59
TENURE
11.1 yrs

Lijun Wang

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥588K
AGE
51
TENURE
2.4 yrs

Albert Lai

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥152K
AGE
57
TENURE
10 yrs

Vincent Cheng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥19K
AGE
55
TENURE
0.9 yrs

Qiang Yang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥120K
AGE
58
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • China Tontine Wines Group individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Sep 19 Sell Hebin Zhang Individual 30. Aug 19 30. Aug 19 -32,467,200 €0.01 €-455,717
02. Sep 19 Sell Hebin Zhang Individual 28. Aug 19 28. Aug 19 -50,000,000 €0.01 €-730,331
X
Management checks
We assess China Tontine Wines 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. China Tontine Wines 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.

CTE News

Simply Wall St News

CTE Company Info

Description

China Tontine Wines Group Limited, an investment holding company, produces and sells grape wine products. The company offers sweet wines and dry wines under the Tongtian, Tongtian Hong, and TONTINE labels. It also produces and sells brandy, white wines, and ice wines, as well as processes grape juices. In addition, China Tontine Wines Group Limited is involved in the grapes plantation and wholesale and retail of wine products; and offers administrative services. It sells its products through distributors in 20 provinces, 3 autonomous regions, and 4 municipal cities in the People’s Republic of China. The company was founded in 2001 and is headquartered in Tonghua, the People’s Republic of China. China Tontine Wines Group Limited is a subsidiary of Up Mount International Limited.

Details
Name: China Tontine Wines Group Limited
CTE
Exchange: DB
Founded: 2001
HK$32,283,009
2,013,018,000
Website: http://www.tontine-wines.com.hk
Address: China Tontine Wines Group Limited
No. 2199, Tuanjie Road,
Tonghua,
Jilin Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 389 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 19. Nov 2009
OTCPK CATW.F Ordinary Shares Pink Sheets LLC US USD 19. Nov 2009
DB CTE Ordinary Shares Deutsche Boerse AG DE EUR 19. Nov 2009
Number of employees
Current staff
Staff numbers
492
China Tontine Wines Group employees.
Industry
Distillers and Vintners
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 22:44
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2018/03/16
Last earnings filing: 2019/09/05
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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

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