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Shanghai Dasheng Agriculture Finance Technology

SEHK:1103
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1103
SEHK
HK$134M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Shanghai Dasheng Agriculture Finance Technology Co., Ltd., together with its subsidiaries, trades in petrochemical products in the People’s Republic of China and Hong Kong. The last earnings update was 71 days ago. More info.


Add to Portfolio Compare Print
  • Shanghai Dasheng Agriculture Finance Technology has significant price volatility in the past 3 months.
1103 Share Price and Events
7 Day Returns
-7.1%
SEHK:1103
1%
HK Trade Distributors
-1.8%
HK Market
1 Year Returns
-70.5%
SEHK:1103
-6.8%
HK Trade Distributors
-2.8%
HK Market
1103 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shanghai Dasheng Agriculture Finance Technology (1103) -7.1% -31.6% -27.8% -70.5% -97.9% -95.9%
HK Trade Distributors 1% -17.7% -18.4% -6.8% -24.7% -63.4%
HK Market -1.8% -4.6% -1% -2.8% 4.1% -2.9%
1 Year Return vs Industry and Market
  • 1103 underperformed the Trade Distributors industry which returned -6.8% over the past year.
  • 1103 underperformed the Market in Hong Kong which returned -2.8% over the past year.
Price Volatility
1103
Industry
5yr Volatility vs Market

Value

 Is Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology.

SEHK:1103 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 14.2%
Perpetual Growth Rate 10-Year HK Government Bond Rate 1.6%

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 SEHK:1103
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.3%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.936 (1 + (1- 25%) (1889.84%))
9.849
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)
= 1.55% + (2 * 6.33%)
14.21%

Discounted Cash Flow Calculation for SEHK:1103 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Shanghai Dasheng Agriculture Finance Technology 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.

SEHK:1103 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 14.21%)
2020 423.33 Est @ 31.22% 370.66
2021 517.82 Est @ 22.32% 396.98
2022 601.13 Est @ 16.09% 403.51
2023 671.63 Est @ 11.73% 394.74
2024 729.89 Est @ 8.67% 375.61
2025 777.60 Est @ 6.54% 350.37
2026 816.80 Est @ 5.04% 322.24
2027 849.42 Est @ 3.99% 293.42
2028 877.11 Est @ 3.26% 265.29
2029 901.21 Est @ 2.75% 238.66
Present value of next 10 years cash flows CN¥3,411.00
SEHK:1103 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥901.21 × (1 + 1.55%) ÷ (14.21% – 1.55%)
CN¥7,228.89
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥7,228.89 ÷ (1 + 14.21%)10
CN¥1,914.39
SEHK:1103 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥3,411.00 + CN¥1,914.39
CN¥5,325.39
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥5,325.39 / 9,551.08
CN¥0.56
SEHK:1103 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1103)
1.111
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥0.56 x 1.111
HK$0.62
Value per share (HKD) From above. HK$0.62
Current discount Discount to share price of HK$0.01
= -1 x (HK$0.01 - HK$0.62) / HK$0.62
97.9%

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

Current Discount
Amount off the current price Shanghai Dasheng Agriculture Finance Technology is available for.
Intrinsic value
>50%
Share price is HK$0.013 vs Future cash flow value of HK$0.61918
Current Discount Checks
For Shanghai Dasheng Agriculture Finance Technology to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shanghai Dasheng Agriculture Finance Technology's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Shanghai Dasheng Agriculture Finance Technology'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 Shanghai Dasheng Agriculture Finance Technology's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shanghai Dasheng Agriculture Finance Technology's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1103 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CNY CN¥-0.15
SEHK:1103 Share Price ** SEHK (2019-12-06) in HKD HK$0.01
SEHK:1103 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.9 CN¥0.01
Hong Kong Trade Distributors Industry PE Ratio Median Figure of 27 Publicly-Listed Trade Distributors Companies 9.14x
Hong Kong Market PE Ratio Median Figure of 1,470 Publicly-Listed Companies 10.13x

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

** Primary Listing of Shanghai Dasheng Agriculture Finance Technology.

SEHK:1103 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1103 Share Price ÷ EPS (both in CNY)

= 0.01 ÷ -0.15

-0.08x

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

  • Shanghai Dasheng Agriculture Finance Technology is loss making, we can't compare its value to the HK Trade Distributors industry average.
  • Shanghai Dasheng Agriculture Finance Technology is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Shanghai Dasheng Agriculture Finance Technology's expected growth come at a high price?
Raw Data
SEHK:1103 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Trade Distributors Industry PEG Ratio Median Figure of 47 Publicly-Listed Trade Distributors Companies 1.29x
Hong Kong Market PEG Ratio Median Figure of 479 Publicly-Listed Companies 0.73x

*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 Shanghai Dasheng Agriculture Finance Technology, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Shanghai Dasheng Agriculture Finance Technology's assets?
Raw Data
SEHK:1103 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CNY CN¥0.02
SEHK:1103 Share Price * SEHK (2019-12-06) in HKD HK$0.01
SEHK:1103 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.9 CN¥0.01
Hong Kong Trade Distributors Industry PB Ratio Median Figure of 58 Publicly-Listed Trade Distributors Companies 0.58x
Hong Kong Market PB Ratio Median Figure of 2,203 Publicly-Listed Companies 0.81x
SEHK:1103 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1103 Share Price ÷ Book Value per Share (both in CNY)

= 0.01 ÷ 0.02

0.75x

* Primary Listing of Shanghai Dasheng Agriculture Finance Technology.

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

  • Shanghai Dasheng Agriculture Finance Technology is overvalued based on assets compared to the HK Trade Distributors industry average.
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Value checks
We assess Shanghai Dasheng Agriculture Finance Technology'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Shanghai Dasheng Agriculture Finance Technology has a total score of 2/6, 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 Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology 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
5.7%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shanghai Dasheng Agriculture Finance Technology expected to grow at an attractive rate?
  • Unable to compare Shanghai Dasheng Agriculture Finance Technology's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Shanghai Dasheng Agriculture Finance Technology's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Shanghai Dasheng Agriculture Finance Technology's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:1103 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
Asia Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.9%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 9.7%

*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
SEHK:1103 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1103 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:1103 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-06-30 1,483 329 -1,459
2019-03-31 1,747 -575 -1,687
2018-12-31 2,012 -1,478 -1,916
2018-06-30 5,694 -2,662 -2,203
2018-03-31 10,070 -2,261 -1,853
2017-12-31 14,446 -1,859 -1,502
2017-09-30 19,615 -1,263 -515
2017-06-30 22,146 -692 462
2017-03-31 18,255 -826 385
2016-12-31 14,365 -961 307
2016-09-30 10,545 274

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Shanghai Dasheng Agriculture Finance Technology is high growth as no earnings estimate data is available.
  • Unable to determine if Shanghai Dasheng Agriculture Finance Technology 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
SEHK:1103 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Shanghai Dasheng Agriculture Finance Technology Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1103 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:1103 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-06-30 -0.15
2019-03-31 -0.18
2018-12-31 -0.20
2018-06-30 -0.24
2018-03-31 -0.21
2017-12-31 -0.18
2017-09-30 -0.06
2017-06-30 0.06
2017-03-31 0.05
2016-12-31 0.04
2016-09-30 0.04

*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 Shanghai Dasheng Agriculture Finance Technology will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of 1103’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Shanghai Dasheng Agriculture Finance Technology'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 Capital Goods companies here
  3. Shanghai Dasheng Agriculture Finance Technology'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
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Future performance checks
We assess Shanghai Dasheng Agriculture Finance Technology'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 Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology's growth in the last year to its industry (Trade Distributors).
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.
  • Shanghai Dasheng Agriculture Finance Technology does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Shanghai Dasheng Agriculture Finance Technology's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Shanghai Dasheng Agriculture Finance Technology's 1-year growth to the HK Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Shanghai Dasheng Agriculture Finance Technology'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 Shanghai Dasheng Agriculture Finance Technology Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1103 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 1,483.05 -1,459.35 1,222.91
2019-03-31 1,747.46 -1,687.44 1,768.23
2018-12-31 2,011.87 -1,915.54 2,313.55
2018-06-30 5,693.83 -2,203.33 3,265.49
2018-03-31 10,069.69 -1,852.75 2,739.74
2017-12-31 14,445.54 -1,502.17 2,213.99
2017-09-30 19,615.48 -515.29 1,348.76
2017-06-30 22,145.93 462.36 250.40
2017-03-31 18,255.40 384.72 191.78
2016-12-31 14,364.87 307.08 133.15
2016-09-30 10,544.71 273.53 131.08
2016-06-30 6,724.56 239.98 129.02
2016-03-31 7,473.81 243.71 130.61
2015-12-31 8,223.07 247.45 132.20
2015-09-30 7,132.48 199.36 119.67
2015-06-30 6,041.89 151.27 107.13
2015-03-31 5,667.20 159.68 122.59
2014-12-31 5,292.50 168.08 138.05
2014-09-30 5,720.02 176.26 151.99
2014-06-30 6,147.54 184.44 165.93
2014-03-31 6,016.59 161.70 141.42
2013-12-31 5,885.63 138.96 116.91
2013-09-30 5,594.53 130.90 106.12
2013-06-30 5,303.42 122.83 95.33
2013-03-31 4,993.61 110.94 116.21
2012-12-31 4,422.01 101.28 112.79

*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 Shanghai Dasheng Agriculture Finance Technology has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Shanghai Dasheng Agriculture Finance Technology has efficiently used its assets last year compared to the HK Trade Distributors industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology'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 Trade Distributors 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.
Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology'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 Shanghai Dasheng Agriculture Finance Technology's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shanghai Dasheng Agriculture Finance Technology's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Shanghai Dasheng Agriculture Finance Technology's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Shanghai Dasheng Agriculture Finance Technology's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.3x 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 Shanghai Dasheng Agriculture Finance Technology Company Filings, last reported 5 months ago.

SEHK:1103 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 110.65 2,275.54 57.86
2019-03-31 110.65 2,275.54 57.86
2018-12-31 296.42 2,573.69 58.39
2018-06-30 2,379.88 3,615.53 199.40
2018-03-31 2,379.88 3,615.53 199.40
2017-12-31 2,403.08 2,923.20 563.30
2017-09-30 2,403.08 2,923.20 563.30
2017-06-30 4,289.76 2,201.33 1,378.75
2017-03-31 4,289.76 2,201.33 1,378.75
2016-12-31 3,362.32 1,707.75 1,225.88
2016-09-30 3,362.32 1,707.75 1,225.88
2016-06-30 3,150.85 702.82 235.76
2016-03-31 3,150.85 702.82 235.76
2015-12-31 1,747.26 1,052.87 362.58
2015-09-30 1,747.26 1,052.87 362.58
2015-06-30 1,460.79 881.50 187.66
2015-03-31 1,460.79 881.50 187.66
2014-12-31 1,027.53 892.00 110.72
2014-09-30 1,027.53 892.00 110.72
2014-06-30 902.95 1,323.48 196.85
2014-03-31 902.95 1,323.48 196.85
2013-12-31 906.29 1,388.61 279.78
2013-09-30 906.29 1,388.61 279.78
2013-06-30 824.38 1,151.33 171.21
2013-03-31 824.38 1,151.33 171.21
2012-12-31 801.95 1,235.00 502.22
  • Shanghai Dasheng Agriculture Finance Technology's level of debt (2056.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (145.8% vs 2056.5% today).
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 Shanghai Dasheng Agriculture Finance Technology has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Shanghai Dasheng Agriculture Finance Technology has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -4.5% per year.
X
Financial health checks
We assess Shanghai Dasheng Agriculture Finance Technology'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. Shanghai Dasheng Agriculture Finance Technology has a total score of 3/6, 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 Shanghai Dasheng Agriculture Finance Technology'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 Shanghai Dasheng Agriculture Finance Technology dividends.
If you bought HK$2,000 of Shanghai Dasheng Agriculture Finance Technology shares you are expected to receive HK$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 Shanghai Dasheng Agriculture Finance Technology's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Shanghai Dasheng Agriculture Finance Technology'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
SEHK:1103 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
Hong Kong Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 3.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 963 Stocks 3.8%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.2%
Hong Kong Top 25% Dividend Yield 75th Percentile 6.3%

Industry and Market average data is calculated daily.

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

SEHK:1103 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
SEHK:1103 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-09-21 0.000 0.000
2018-08-30 0.000 0.000
2018-03-20 0.000 0.000
2017-04-24 0.010 2.047
2017-03-13 0.010 1.463
2016-07-07 0.010 1.692
2016-06-16 0.010 2.378
2015-05-07 0.011 2.584
2015-04-29 0.016 5.842
2015-03-25 0.016 6.183
2014-09-18 0.000 0.000
2014-08-27 0.000 0.000
2014-05-08 0.020 6.856
2013-04-10 0.021 11.790
2013-03-20 0.021 15.268
2012-08-27 0.010 9.644
2012-05-09 0.000 0.000
2012-03-30 0.000 0.000
2012-03-15 0.000 0.000
2011-11-14 0.000 0.000
2011-11-09 0.000 0.000
2011-08-12 0.000 0.000
2011-08-09 0.000 0.000
2011-05-03 0.000 0.000
2011-03-23 0.013 8.813
2010-11-12 0.007 5.071
2010-11-09 0.007 5.844
2010-08-13 0.007 6.456
2010-08-10 0.007 7.104
2010-05-13 0.007 7.294
2010-05-11 0.013 12.909
2010-03-26 0.000 0.000
2009-03-30 0.003 2.288

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

  • Unable to perform a dividend volatility check as Shanghai Dasheng Agriculture Finance Technology has not reported any payouts.
  • Unable to verify if Shanghai Dasheng Agriculture Finance Technology's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Shanghai Dasheng Agriculture Finance Technology's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Shanghai Dasheng Agriculture Finance Technology afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shanghai Dasheng Agriculture Finance Technology 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 Shanghai Dasheng Agriculture Finance Technology'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
Liguo Wang
COMPENSATION CN¥1,060,000
AGE 57
TENURE AS CEO 0.8 years
CEO Bio

Mr. Wang Liguo has been the Chief Executive Officer at Shanghai Tonva Petrochemical Co., Ltd. (now Shanghai Dasheng Agriculture Finance Technology Co., Ltd.) since February 11, 2019 and was its Vice President since June 2014 until February 11, 2019. Mr. Wang has experience in the China petroleum and petrochemical industries. He has extensive experience in the fields of international market exploring, risk control and enterprise management. From 1983 to 2011, Mr. Wang worked for various branches and subsidiaries of China Petrochemical Corporation (Sinopec). Mr. Wang served as the General Manager of Hongkong Huaxin Petroleum Limited from November 2011 to December 2013. From August 1983 to May 2000, Mr. Wang held a number of positions in Sinopec Anqing Branch, including Senior Engineer, System Analyst and Deputy Director of Crude Oil Department. He then served as the Vice Director and Director, respectively, of Human Resource Department of Sinopec Shenzhen Oil Company from May 2000 to September 2007. Mr. Wang has been an Executive Director at Shanghai Tonva Petrochemical Co., Ltd. since June 25, 2014. Mr. Wang has been a Director of Zhenjiang Runde Equity Investment Fund Ltd. since April 2014 and is its general manager. Mr. Wang is a Senior Engineer. He served as a Deputy Director/vice general manager of Sinopec International (Hong Kong) Co., Limited from October 2007 to October 2011. Mr. Wang graduated from Hefei University of Technology in July 1983 with a Bachelor's degree in Metal Material and Heat Treatment and obtained an MBA from Zhejiang University in June 1997.

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

Average tenure and age of the Shanghai Dasheng Agriculture Finance Technology management team in years:

0.8
Average Tenure
48
Average Age
  • The average tenure for the Shanghai Dasheng Agriculture Finance Technology management team is less than 2 years, this suggests a new team.
Management Team

Huasheng Lan

TITLE
Chairman of the Board
COMPENSATION
CN¥1M
AGE
48

Liguo Wang

TITLE
CEO & Executive Director
COMPENSATION
CN¥1M
AGE
57
TENURE
0.8 yrs

Di Qian

TITLE
Company Secretary
AGE
37
TENURE
0.8 yrs

Zebin Yan

TITLE
Executive Director
AGE
56
TENURE
0.5 yrs

Miaojie Xu

TITLE
Assistant Manager of Risk Management Department
AGE
36
TENURE
5.1 yrs
Board of Directors Tenure

Average tenure and age of the Shanghai Dasheng Agriculture Finance Technology board of directors in years:

3.9
Average Tenure
53.5
Average Age
  • The tenure for the Shanghai Dasheng Agriculture Finance Technology board of directors is about average.
Board of Directors

Huasheng Lan

TITLE
Chairman of the Board
COMPENSATION
CN¥1M
AGE
48
TENURE
5.5 yrs

Liguo Wang

TITLE
CEO & Executive Director
COMPENSATION
CN¥1M
AGE
57
TENURE
5.5 yrs

Zebin Yan

TITLE
Executive Director
AGE
56
TENURE
0.5 yrs

Cheuk Ming Chung

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥107K
AGE
56
TENURE
7.5 yrs

Jianhao Zhou

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥92K
AGE
58
TENURE
7 yrs

Tingfu Lu

TITLE
Non-Executive Director
AGE
49
TENURE
0.5 yrs

Gaoyu Yang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥92K
AGE
51
TENURE
3.3 yrs

Mingzhu Ye

TITLE
Independent Supervisor
COMPENSATION
CN¥51K
AGE
74
TENURE
4.4 yrs

Ting Sun

TITLE
Staff Representative Supervisor
AGE
33
TENURE
1.4 yrs

Bin Wang

TITLE
Staff Representative Supervisor
AGE
51
TENURE
1.4 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 (HK$) Value (HK$)
X
Management checks
We assess Shanghai Dasheng Agriculture Finance Technology'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. Shanghai Dasheng Agriculture Finance Technology 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

Shanghai Dasheng Agriculture Finance Technology Co Ltd (HKG:1103): Assessing Capital Returns

and looking to gauge the potential return on investment in Shanghai Dasheng Agriculture Finance Technology Co Ltd (HKG:1103). … Shanghai Dasheng Agriculture Finance Technology stock represents an ownership share in the company. … To understand Shanghai Dasheng Agriculture Finance Technology’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Does Shanghai Dasheng Agriculture Finance Technology Co Ltd's (HKG:1103) PE Ratio Warrant A Buy?

and want to better understand how you can grow your money by investing in Shanghai Dasheng Agriculture Finance Technology Co Ltd (HKG:1103). … Shanghai Dasheng Agriculture Finance Technology Co Ltd (HKG:1103) is currently trading at a trailing P/E of 1.8x, which is lower than the industry average of 13.9x. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind

Simply Wall St -

Best-In-Class Industrial Dividend Stocks

(SEHK:1103) 1103 has a juicy dividend yield of 4.64% and pays 17.72% of it’s earnings as dividends. … SEHK:1103 Historical Dividend Yield Mar 17th 18 Wai Kee Holdings Limited (SEHK:610) 610 has a juicy dividend yield of 5.54% and pays out 22.86% of its profit as dividends. … SEHK:610 Historical Dividend Yield Mar 17th 18 Chevalier International Holdings Limited (SEHK:25) 25 has a sumptuous dividend yield of 4.80% and is distributing 15.87% of earnings as dividends.

Simply Wall St -

Company Info

Description

Shanghai Dasheng Agriculture Finance Technology Co., Ltd., together with its subsidiaries, trades in petrochemical products in the People’s Republic of China and Hong Kong. It operates through four segments: Sale of Petrochemical and Agricultural Products, Financial Leasing and Commercial Factoring, Agricultural Big-Data Services, and Agrochemical Products Supply Chain Services. The company offers petrochemical and agricultural products, including chemical fertilizers, fuel oil, mixed aromatics, and white sugar, as well as food and frozen products. It also provides financial leasing and commercial factoring services, as well as agricultural industry chain financial services; agricultural big-data services, such as software related services; and collection and transportation, and other services comprising installation and technical support for payment platform systems. In addition, the company produces and sells pesticides and chemical products. Further, it engages in the construction, engineering, trading, and sales of building materials; and research and development of various synthetic materials, as well as provides materials and on-site inspection services. The company was formerly known as Shanghai Tonva Petrochemical Co., Ltd. and changed its name to Shanghai Dasheng Agriculture Finance Technology Co., Ltd. in January 2016. The company was founded in 1993 and is based in Shanghai, the People’s Republic of China. Shanghai Dasheng Agriculture Finance Technology Co., Ltd. is a subsidiary of Shenzhen Dasheng Agricultural Group Co., Ltd.

Details
Name: Shanghai Dasheng Agriculture Finance Technology Co., Ltd.
1103
Exchange: SEHK
Founded: 1993
HK$133,715,117
9,551,079,812
Website: http://www.dsgd-sh.co
Address: Shanghai Dasheng Agriculture Finance Technology Co., Ltd.
Building G,
20th Floor,
Shanghai,
200030,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1103 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 13. Jul 2005
DB S8P Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 13. Jul 2005
Number of employees
Current staff
Staff numbers
1,711
Shanghai Dasheng Agriculture Finance Technology employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/06 12:41
End of day share price update: 2019/12/06 00:00
Last estimates confirmation: 2017/03/13
Last earnings filing: 2019/09/26
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.