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Anhui Conch Cement

DB:AQE
Snowflake Description

Flawless balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AQE
DB
HK$329B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Anhui Conch Cement Company Limited, together with its subsidiaries, manufactures, sells, and trades in clinker and cement products in the People’s Republic of China and internationally. The last earnings update was 18 days ago. More info.


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AQE Share Price and Events
7 Day Returns
7.2%
DB:AQE
6.6%
Europe Basic Materials
2.1%
DE Market
1 Year Returns
13.6%
DB:AQE
-26.7%
Europe Basic Materials
-16.6%
DE Market
AQE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Anhui Conch Cement (AQE) 7.2% 3.1% 3.1% 13.6% 104.1% 80.8%
Europe Basic Materials 6.6% -18.2% -32.2% -26.7% -36.7% -34%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • AQE outperformed the Basic Materials industry which returned -26.7% over the past year.
  • AQE outperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
AQE
Industry
5yr Volatility vs Market

Value

 Is Anhui Conch Cement 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 Anhui Conch Cement 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 Anhui Conch Cement.

DB:AQE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 17 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
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:AQE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.3%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 25%) (3.76%))
0.893
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.893 * 6.33%)
5.26%

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

The calculations below outline how an intrinsic value for Anhui Conch Cement 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:AQE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 5.26%)
2020 25,453.00 Analyst x4 24,180.22
2021 28,325.40 Analyst x5 25,563.41
2022 29,572.25 Analyst x4 25,354.11
2023 28,963.75 Est @ -2.06% 23,590.66
2024 28,512.68 Est @ -1.56% 22,061.99
2025 28,168.49 Est @ -1.21% 20,705.77
2026 27,897.50 Est @ -0.96% 19,481.15
2027 27,677.00 Est @ -0.79% 18,360.72
2028 27,491.48 Est @ -0.67% 17,325.67
2029 27,330.33 Est @ -0.59% 16,362.82
Present value of next 10 years cash flows CN¥212,986.00
DB:AQE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥27,330.33 × (1 + -0.39%) ÷ (5.26% – -0.39%)
CN¥481,519.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥481,519.92 ÷ (1 + 5.26%)10
CN¥288,288.64
DB:AQE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥212,986.00 + CN¥288,288.64
CN¥501,274.64
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥501,274.64 / 5,299.30
CN¥94.59
DB:AQE Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:914)
1.093
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥94.59 x 1.093
HK$103.39
Non-primary Listing Adjustment Factor 1 share in DB:AQE represents 0.11592x of SEHK:914
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11592x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 103.39 x 0.11592
€11.99
Value per share (EUR) From above. €11.99
Current discount Discount to share price of €6.70
= -1 x (€6.70 - €11.99) / €11.99
44.1%

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

Current Discount
Amount off the current price Anhui Conch Cement is available for.
Intrinsic value
44%
Share price is €6.7 vs Future cash flow value of €11.99
Current Discount Checks
For Anhui Conch Cement to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Anhui Conch Cement's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Anhui Conch Cement'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 Anhui Conch Cement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Anhui Conch Cement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AQE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CNY CN¥6.34
SEHK:914 Share Price ** SEHK (2020-04-07) in HKD HK$57.8
SEHK:914 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥52.88
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.52x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Anhui Conch Cement.

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

= SEHK:914 Share Price ÷ EPS (both in CNY)

= 52.88 ÷ 6.34

8.34x

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

  • Anhui Conch Cement is good value based on earnings compared to the Europe Basic Materials industry average.
  • Anhui Conch Cement is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Anhui Conch Cement's expected growth come at a high price?
Raw Data
DB:AQE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
-2%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:AQE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.34x ÷ -2%

-4.22x

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

  • Anhui Conch Cement earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Anhui Conch Cement's assets?
Raw Data
DB:AQE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CNY CN¥25.92
SEHK:914 Share Price * SEHK (2020-04-07) in HKD HK$57.8
SEHK:914 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.915 CN¥52.88
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.85x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:AQE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:914 Share Price ÷ Book Value per Share (both in CNY)

= 52.88 ÷ 25.92

2.04x

* Primary Listing of Anhui Conch Cement.

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

  • Anhui Conch Cement is overvalued based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Anhui Conch Cement'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 Basic Materials 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 Basic Materials industry average (and greater than 0)? (1 check)
  5. Anhui Conch Cement has a total score of 4/6, 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 Anhui Conch Cement expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Anhui Conch Cement expected to grow at an attractive rate?
  • Anhui Conch Cement's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Anhui Conch Cement's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Anhui Conch Cement's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AQE Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AQE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts -2%
DB:AQE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 0.6%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:AQE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AQE Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 158,765 34,853 31,269 13
2021-12-31 159,397 36,813 32,436 16
2020-12-31 154,212 36,563 31,809 16
2020-04-07
DB:AQE Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-12-31 157,030 40,738 33,593
2019-09-30 161,367 41,436 32,914
2019-06-30 154,304 38,617 32,132
2019-03-31 140,137 38,017 31,117
2018-12-31 128,403 36,059 29,814
2018-09-30 103,064 29,192 26,762
2018-06-30 89,145 24,262 22,080
2018-03-31 80,438 18,218 18,480
2017-12-31 75,311 17,363 15,855
2017-09-30 68,022 13,802 12,370
2017-06-30 63,867 13,577 11,892
2017-03-31 58,964 13,663 9,528

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Anhui Conch Cement's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Anhui Conch Cement's revenue is expected to grow by 0.6% 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:AQE 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 17 Analyst Estimates (S&P Global) See Below

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

DB:AQE Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 5.93 7.66 3.92 13.00
2021-12-31 6.20 7.13 4.19 16.00
2020-12-31 6.13 7.10 4.34 16.00
2020-04-07
DB:AQE Past Financials Data
Date (Data in CNY Millions) EPS *
2019-12-31 6.34
2019-09-30 6.21
2019-06-30 6.06
2019-03-31 5.87
2018-12-31 5.63
2018-09-30 5.05
2018-06-30 4.17
2018-03-31 3.49
2017-12-31 2.99
2017-09-30 2.33
2017-06-30 2.24
2017-03-31 1.80

*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.
  • Anhui Conch Cement is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Anhui Conch Cement'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.
Anhui Conch Cement 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 Anhui Conch Cement 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 Anhui Conch Cement's growth in the last year to its industry (Basic Materials).
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.
  • Anhui Conch Cement has delivered over 20% year on year earnings growth in the past 5 years.
  • Anhui Conch Cement's 1-year earnings growth is less than its 5-year average (12.7% vs 34.3%)
  • Anhui Conch Cement's earnings growth has not exceeded the Europe Basic Materials industry average in the past year (12.7% vs 20.8%).
Earnings and Revenue History
Anhui Conch Cement'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 Anhui Conch Cement Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AQE Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 157,030.33 33,592.76 8,743.71 187.20
2019-09-30 161,366.96 32,913.81 8,612.15 65.65
2019-06-30 154,304.20 32,131.90 8,357.73 65.96
2019-03-31 140,136.64 31,117.48 7,899.64 68.72
2018-12-31 128,402.63 29,814.28 7,060.30 70.97
2018-09-30 103,064.25 26,762.14 7,659.95 59.25
2018-06-30 89,145.15 22,080.04 7,284.69 51.62
2018-03-31 80,438.36 18,479.52 6,991.83 60.26
2017-12-31 75,310.82 15,854.67 6,989.22 42.39
2017-09-30 68,021.52 12,370.15 6,030.19 28.62
2017-06-30 63,866.71 11,891.72 6,058.98 19.11
2017-03-31 58,963.69 9,528.04 5,988.58
2016-12-31 55,931.90 8,529.92 5,902.72
2016-09-30 50,956.17 7,382.09 5,980.63
2016-06-30 50,725.82 6,165.96 5,675.06
2016-03-31 50,353.89 6,957.96 5,611.07
2015-12-31 50,976.04 7,516.39 5,491.44
2015-09-30 55,052.82 8,922.89 5,375.22
2015-06-30 56,197.34 9,877.08 5,301.60
2015-03-31 59,358.21 10,233.05 5,216.34
2014-12-31 60,758.50 10,993.02 5,057.79
2014-09-30 61,928.21 12,168.95 4,781.95
2014-06-30 60,459.07 12,141.55 4,789.70
2014-03-31 57,985.51 10,881.66 4,679.80
2013-12-31 55,261.68 9,380.16 4,612.01
2013-09-30 50,527.33 7,756.59 4,692.89
2013-06-30 48,794.14 6,450.14 4,427.24

*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.
  • Anhui Conch Cement has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Anhui Conch Cement used its assets more efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Anhui Conch Cement has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Anhui Conch Cement'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 Basic Materials 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.
Anhui Conch Cement has a total score of 4/6, 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 Anhui Conch Cement'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 Anhui Conch Cement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Anhui Conch Cement is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Anhui Conch Cement's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Anhui Conch Cement'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 8.6x 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 Anhui Conch Cement Company Filings, last reported 3 months ago.

DB:AQE Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 142,320.45 11,287.16 73,830.58
2019-09-30 132,140.55 10,827.68 44,564.91
2019-06-30 123,212.46 10,096.93 50,761.68
2019-03-31 122,652.04 10,956.96 41,022.65
2018-12-31 116,417.87 10,233.50 47,768.12
2018-09-30 107,081.46 10,611.84 31,263.27
2018-06-30 98,947.60 10,422.48 26,996.93
2018-03-31 96,918.76 13,334.00 26,227.12
2017-12-31 91,964.11 13,979.02 26,786.28
2017-09-30 85,819.03 16,525.15 20,735.22
2017-06-30 84,483.06 16,275.46 20,785.36
2017-03-31 82,689.99 16,508.80 16,546.41
2016-12-31 80,298.77 15,980.74 15,585.98
2016-09-30 77,630.05 15,820.21 12,862.34
2016-06-30 75,098.43 16,118.49 10,284.39
2016-03-31 74,985.07 21,376.71 16,897.75
2015-12-31 73,911.57 19,184.93 14,471.45
2015-09-30 71,706.68 10,696.45 13,429.60
2015-06-30 71,382.01 19,996.47 14,147.64
2015-03-31 72,708.62 19,926.24 13,376.86
2014-12-31 69,611.24 19,916.24 14,171.95
2014-09-30 65,991.78 20,302.74 13,364.28
2014-06-30 63,423.64 20,446.45 10,422.19
2014-03-31 61,570.89 19,918.59 9,538.43
2013-12-31 58,765.18 22,141.37 11,296.90
2013-09-30 54,540.73 20,374.03 10,252.61
2013-06-30 52,155.36 23,543.01 9,276.40
  • Anhui Conch Cement's level of debt (7.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (28.5% vs 7.9% today).
  • Debt is well covered by operating cash flow (360.9%, greater than 20% of total debt).
  • Anhui Conch Cement earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Anhui Conch Cement'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. Anhui Conch Cement has a total score of 6/6, 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 Anhui Conch Cement'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
3.78%
Current annual income from Anhui Conch Cement dividends. Estimated to be 3.72% next year.
If you bought €2,000 of Anhui Conch Cement shares you are expected to receive €76 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?
  • Anhui Conch Cement's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Anhui Conch Cement's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
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:AQE 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 17 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:AQE Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.00 1.00
2022-12-31 2.02 11.00
2021-12-31 2.08 15.00
2020-12-31 1.95 16.00
2020-04-07
DB:AQE Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2020-03-20 2.000 4.116
2019-03-21 1.690 3.876
2018-06-11 1.200 3.195
2017-03-23 0.500 1.764
2016-04-05 0.430 2.303
2015-06-11 0.650 3.667
2014-06-23 0.350 1.574
2013-04-11 0.250 1.171
2012-03-26 0.350 1.763
2011-05-31 0.300 1.337
2011-03-28 0.200 0.718
2010-03-30 0.117 0.673

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 Anhui Conch Cement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Anhui Conch Cement's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Anhui Conch Cement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Anhui Conch Cement 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.

Management

 What is the CEO of Anhui Conch Cement'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
Bin Wu
COMPENSATION CN¥1,867,000
AGE 54
TENURE AS CEO 4.7 years
CEO Bio

Mr. Bin Wu has been the General Manager of Anhui Conch Cement Co. Ltd. since August 21, 2015 and serves as its Executive Director since June 2, 2016. He joined the Anhui Conch Cement Co. Ltd. in 1983. Mr. Wu served as Deputy General Manager of Anhui Conch Cement Co. Ltd. until August 21, 2015 and served as its Assistant to General Manager since March 27, 2008. Mr. Wu joined Anhui Group in 198 and has held various leading positions of deputy director of sales department and deputy plant director of the packing and transportation sub-plant of Baimashan Cement Plant, deputy director and director of sales department. Mr. Wu is experienced in sales– and management-related works and is currently the supervisor of the Regional Committee in Guangxi. Mr. Wu graduated from Anhui Construction Engineering School. Mr. Wu was elected as a member of the 13th session of the People’s Congress of Anhui Province in January 2018.

CEO Compensation
  • Bin's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Bin's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Anhui Conch Cement management team in years:

4.9
Average Tenure
51.5
Average Age
  • The tenure for the Anhui Conch Cement management team is about average.
Management Team

Gao Dengbang

TITLE
Chairman
AGE
58

Bin Wu

TITLE
GM & Executive Director
COMPENSATION
CN¥2M
AGE
54
TENURE
4.7 yrs

Jianchao Wang

TITLE
Deputy Chairman
COMPENSATION
CN¥847K
AGE
55

Shui Yu

TITLE
Assistant to General Manager
COMPENSATION
CN¥2M
AGE
43
TENURE
1.7 yrs

Feng Ding

TITLE
Executive Director
AGE
47
TENURE
5.1 yrs

Leyi Li

TITLE
Chief Engineer of Technical Art
COMPENSATION
CN¥2M
AGE
57
TENURE
8.1 yrs

Qiubi Ke

TITLE
Deputy general manager
COMPENSATION
CN¥2M
AGE
56
TENURE
2.8 yrs

Qunfeng Li

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥2M
AGE
48
TENURE
5.1 yrs

Xiaobo Li

TITLE
Deputy General Manager
COMPENSATION
CN¥2M
AGE
49
TENURE
5.1 yrs

Tiejun Wu

TITLE
Assistant to General Manager
COMPENSATION
CN¥2M
AGE
39
TENURE
2.5 yrs
Board of Directors Tenure

Average tenure and age of the Anhui Conch Cement board of directors in years:

3.8
Average Tenure
54.5
Average Age
  • The tenure for the Anhui Conch Cement board of directors is about average.
Board of Directors

Gao Dengbang

TITLE
Chairman
AGE
58
TENURE
3.8 yrs

Bin Wu

TITLE
GM & Executive Director
COMPENSATION
CN¥2M
AGE
54
TENURE
3.8 yrs

Jianchao Wang

TITLE
Deputy Chairman
COMPENSATION
CN¥847K
AGE
55
TENURE
4.7 yrs

Feng Ding

TITLE
Executive Director
AGE
47
TENURE
3.8 yrs

Qunfeng Li

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥2M
AGE
48
TENURE
0.9 yrs

Xiaoming Wu

TITLE
Chairman of Supervisory Committee
AGE
56
TENURE
2.5 yrs

Mianzhi Yang

TITLE
Independent Non Executive Director
COMPENSATION
CN¥134K
AGE
50
TENURE
3.8 yrs

Simon Leung

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥132K
AGE
59
TENURE
3.8 yrs

Yunyan Zhang

TITLE
Independent Non-Executive Director
AGE
44
TENURE
0.9 yrs

Pengfei Wang

TITLE
Supervisor
COMPENSATION
CN¥993K
AGE
57
TENURE
4.8 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 (€)
15. Feb 20 Sell BlackRock, Inc. Company 13. Feb 20 13. Feb 20 -1,407,500 €6.67 €-9,381,412
21. Jan 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. Jan 20 16. Jan 20 969,729 €6.50 €6,298,978
17. Jan 20 Buy BlackRock, Inc. Company 14. Jan 20 14. Jan 20 1,218,640 €6.62 €8,072,471
15. Jan 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 10. Jan 20 10. Jan 20 2,464,448 €6.62 €16,304,518
09. Jan 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 06. Jan 20 06. Jan 20 1,409,876 €6.65 €9,379,447
07. Jan 20 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 02. Jan 20 02. Jan 20 2,375,825 €6.90 €16,382,878
24. Dec 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 19. Dec 19 19. Dec 19 -2,217,611 €6.08 €-13,482,979
19. Dec 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 16. Dec 19 16. Dec 19 -2,824,657 €6.14 €-17,337,835
19. Dec 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 16. Dec 19 16. Dec 19 13,975 €6.14 €85,779
19. Dec 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. Dec 19 16. Dec 19 -3,000 €6.14 €-18,414
19. Dec 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. Dec 19 16. Dec 19 3,968,151 €6.14 €24,356,638
19. Dec 19 Sell J.P. Morgan Asset Management, Inc. Company 16. Dec 19 16. Dec 19 -18,500 €6.14 €-113,554
18. Dec 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 13. Dec 19 13. Dec 19 -96,145 €6.14 €-590,736
12. Dec 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 09. Dec 19 09. Dec 19 -32,500 €5.98 €-194,437
12. Dec 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 09. Dec 19 09. Dec 19 1,264,021 €5.98 €7,562,236
12. Dec 19 Sell J.P. Morgan Asset Management, Inc. Company 09. Dec 19 09. Dec 19 -13,000 €5.98 €-77,775
11. Dec 19 Sell J.P. Morgan Asset Management, Inc. Company 06. Dec 19 06. Dec 19 -648,595 €5.99 €-3,883,694
09. Dec 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 04. Dec 19 04. Dec 19 580,576 €5.69 €3,304,410
09. Dec 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 04. Dec 19 04. Dec 19 5,000 €5.69 €28,458
09. Dec 19 Sell BlackRock, Inc. Company 04. Dec 19 04. Dec 19 -466,500 €5.83 €-2,719,722
06. Dec 19 Sell J.P. Morgan Asset Management, Inc. Company 03. Dec 19 03. Dec 19 -309,530 €5.78 €-1,788,614
01. Nov 19 Buy BlackRock, Inc. Company 29. Oct 19 29. Oct 19 1,110,500 €5.35 €5,946,727
22. Oct 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 17. Oct 19 17. Oct 19 154,452 €5.48 €846,493
22. Oct 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. Oct 19 17. Oct 19 12,000 €5.48 €65,767
22. Oct 19 Buy J.P. Morgan Asset Management, Inc. Company 17. Oct 19 17. Oct 19 1,073,000 €5.48 €5,880,707
21. Oct 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. Oct 19 16. Oct 19 -402,242 €5.41 €-2,175,057
13. Jul 19 Sell BlackRock, Inc. Company 10. Jul 19 10. Jul 19 -871,900 €5.48 €-4,781,506
04. Jun 19 Sell BlackRock, Inc. Company 30. May 19 30. May 19 -2,072,500 €5.19 €-10,759,033
22. May 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 17. May 19 17. May 19 2,020,685 €5.15 €10,399,056
17. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 14. May 19 14. May 19 -1,761,341 €5.14 €-9,053,172
10. May 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 07. May 19 07. May 19 2,320,606 €5.50 €12,756,552
07. May 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 02. May 19 02. May 19 -3,703,827 €5.43 €-20,107,222
23. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 18. Apr 19 18. Apr 19 969,963 €5.67 €5,496,662
16. Apr 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Apr 19 11. Apr 19 3,744,063 €5.70 €21,322,736
X
Management checks
We assess Anhui Conch Cement'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. Anhui Conch Cement 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

Anhui Conch Cement Company Limited, together with its subsidiaries, manufactures, sells, and trades in clinker and cement products in the People’s Republic of China and internationally. The company primarily offers Portland cement, ordinary Portland cement, slag Portland cement, composite Portland cement under the CONCH brand. It also provides sulfate resistance cement, moderate Portland cement, low heat slag Portland cement, highway Portland cement, oil well Portland cement, non-maglev Portland cement, nuclear station Portland cement, white cement, etc. It also provides construction and installation services for industrial purposes; logistic services; and mining and related services. In addition, the company manufactures and sells cement packaging products, concrete products, and refractory materials; and develops and sells profile and related products, as well as exports clinker and cement products. Additionally, it engages in investment and trading; and selling aggregates. Anhui Conch Cement Company Limited was founded in 1997 and is based in Wuhu, the People’s Republic of China.

Details
Name: Anhui Conch Cement Company Limited
AQE
Exchange: DB
Founded: 1997
HK$39,302,780,097
5,299,302,579
Website: http://www.conch.cn
Address: Anhui Conch Cement Company Limited
No. 39 Wenhua Road,
Wuhu,
Anhui Province, 241000,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 914 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 21. Oct 1997
OTCPK AHCH.F Foreign Shares-Foreign Listed Pink Sheets LLC US USD 21. Oct 1997
DB AQE Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 21. Oct 1997
SHSC 914 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 21. Oct 1997
SZSC 914 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 21. Oct 1997
OTCPK AHCH.Y ADR Pink Sheets LLC US USD 04. Nov 2008
SHSE 600585 Domestic Shares Shanghai Stock Exchange CN CNY 07. Feb 2002
XSSC 600585 Domestic Shares Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect CN CNY 07. Feb 2002
Number of employees
Current staff
Staff numbers
47,486
Anhui Conch Cement employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:29
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/03/20
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.