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Hong Kong ChaoShang Group

SEHK:2322
Snowflake Description

Excellent balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2322
SEHK
HK$3B
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Hong Kong ChaoShang Group Limited, an investment holding company, engages in vessel chartering, trading, money lending, factoring, and finance leasing businesses in the People’s Republic of China and Southeast Asia. The last earnings update was 66 days ago. More info.


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  • Hong Kong ChaoShang Group has significant price volatility in the past 3 months.
2322 Share Price and Events
7 Day Returns
4.2%
SEHK:2322
1.2%
HK Trade Distributors
0.3%
HK Market
1 Year Returns
-14.8%
SEHK:2322
-13.3%
HK Trade Distributors
-5.1%
HK Market
2322 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hong Kong ChaoShang Group (2322) 4.2% 41.5% 47.1% -14.8% -11.8% 581.8%
HK Trade Distributors 1.2% -1.1% -3.5% -13.3% -21.7% -59.5%
HK Market 0.3% -3.9% 4.4% -5.1% 1.9% -3.6%
1 Year Return vs Industry and Market
  • 2322 underperformed the Trade Distributors industry which returned -13.3% over the past year.
  • 2322 underperformed the Market in Hong Kong which returned -5.1% over the past year.
Price Volatility
2322
Industry
5yr Volatility vs Market

2322 Value

 Is Hong Kong ChaoShang 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 Hong Kong ChaoShang 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 Hong Kong ChaoShang Group.

SEHK:2322 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 7.5%
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:2322
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.1%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.957 (1 + (1- 25%) (1.02%))
0.976
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.55% + (0.976 * 6.07%)
7.47%

Discounted Cash Flow Calculation for SEHK:2322 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hong Kong ChaoShang 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.

SEHK:2322 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.47%)
2020 38.10 Est @ 66.72% 35.45
2021 56.07 Est @ 47.17% 48.54
2022 74.84 Est @ 33.48% 60.29
2023 92.73 Est @ 23.9% 69.50
2024 108.67 Est @ 17.2% 75.79
2025 122.26 Est @ 12.5% 79.34
2026 133.53 Est @ 9.22% 80.63
2027 142.77 Est @ 6.92% 80.21
2028 150.35 Est @ 5.31% 78.59
2029 156.63 Est @ 4.18% 76.19
Present value of next 10 years cash flows HK$684.00
SEHK:2322 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$156.63 × (1 + 1.55%) ÷ (7.47% – 1.55%)
HK$2,685.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$2,685.36 ÷ (1 + 7.47%)10
HK$1,306.18
SEHK:2322 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$684.00 + HK$1,306.18
HK$1,990.18
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$1,990.18 / 4,120.60
HK$0.48
SEHK:2322 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.48
Current discount Discount to share price of HK$0.75
= -1 x (HK$0.75 - HK$0.48) / HK$0.48
-55.3%

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

  • The current share price of Hong Kong ChaoShang Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Hong Kong ChaoShang Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hong Kong ChaoShang Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2322 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in HKD HK$-0.01
SEHK:2322 Share Price ** SEHK (2020-02-20) in HKD HK$0.75
Hong Kong Trade Distributors Industry PE Ratio Median Figure of 26 Publicly-Listed Trade Distributors Companies 10.27x
Hong Kong Market PE Ratio Median Figure of 1,494 Publicly-Listed Companies 10.18x

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

** Primary Listing of Hong Kong ChaoShang Group.

SEHK:2322 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2322 Share Price ÷ EPS (both in HKD)

= 0.75 ÷ -0.01

-67.96x

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

  • Hong Kong ChaoShang Group is loss making, we can't compare its value to the HK Trade Distributors industry average.
  • Hong Kong ChaoShang Group is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Hong Kong ChaoShang Group's expected growth come at a high price?
Raw Data
SEHK:2322 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -67.96x
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 46 Publicly-Listed Trade Distributors Companies 1.45x
Hong Kong Market PEG Ratio Median Figure of 485 Publicly-Listed Companies 0.75x

*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 Hong Kong ChaoShang Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hong Kong ChaoShang Group's assets?
Raw Data
SEHK:2322 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in HKD HK$0.19
SEHK:2322 Share Price * SEHK (2020-02-20) in HKD HK$0.75
Hong Kong Trade Distributors Industry PB Ratio Median Figure of 58 Publicly-Listed Trade Distributors Companies 0.54x
Hong Kong Market PB Ratio Median Figure of 2,241 Publicly-Listed Companies 0.82x
SEHK:2322 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2322 Share Price ÷ Book Value per Share (both in HKD)

= 0.75 ÷ 0.19

3.9x

* Primary Listing of Hong Kong ChaoShang Group.

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

  • Hong Kong ChaoShang Group is overvalued based on assets compared to the HK Trade Distributors industry average.
X
Value checks
We assess Hong Kong ChaoShang 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 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. Hong Kong ChaoShang Group has a total score of 0/6, 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.

2322 Future Performance

 How is Hong Kong ChaoShang 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 Hong Kong ChaoShang 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
6.1%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hong Kong ChaoShang Group expected to grow at an attractive rate?
  • Unable to compare Hong Kong ChaoShang Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Hong Kong ChaoShang Group's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Hong Kong ChaoShang Group's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2322 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
Asia Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.5%

*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
SEHK:2322 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2322 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:2322 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-09-30 177 24 -41
2019-06-30 142 -33 -36
2019-03-31 108 -90 -32
2018-12-31 214 -69 -30
2018-09-30 319 -48 -28
2018-06-30 391 -6 -38
2018-03-31 463 36 -48
2017-12-31 644 -11 -39
2017-09-30 825 -57 -29
2017-06-30 1,481 -133 -23
2017-03-31 2,137 -208 -18
2016-12-31 2,216 -302 -24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Hong Kong ChaoShang Group is high growth as no earnings estimate data is available.
  • Unable to determine if Hong Kong ChaoShang 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
SEHK:2322 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Hong Kong ChaoShang Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2322 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:2322 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-09-30 -0.01
2019-06-30 -0.01
2019-03-31 -0.01
2018-12-31 -0.01
2018-09-30 -0.01
2018-06-30 -0.01
2018-03-31 -0.01
2017-12-31 -0.01
2017-09-30 -0.01
2017-06-30 -0.01
2017-03-31 0.00
2016-12-31 -0.01

*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 Hong Kong ChaoShang Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Hong Kong ChaoShang Group's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Hong Kong ChaoShang 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 Capital Goods companies here
  3. Hong Kong ChaoShang 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 Hong Kong ChaoShang 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 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.
Hong Kong ChaoShang 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.

2322 Past Performance

  How has Hong Kong ChaoShang 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 Hong Kong ChaoShang Group'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.
  • Hong Kong ChaoShang Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Hong Kong ChaoShang Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Hong Kong ChaoShang Group's 1-year growth to the HK Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Hong Kong ChaoShang 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 Hong Kong ChaoShang Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2322 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 176.74 -40.62 59.22
2019-06-30 142.49 -36.39 64.27
2019-03-31 108.24 -32.17 69.32
2018-12-31 213.63 -30.29 65.58
2018-09-30 319.02 -28.42 61.84
2018-06-30 391.15 -38.41 57.78
2018-03-31 463.27 -48.41 53.73
2017-12-31 643.89 -38.57 48.24
2017-09-30 824.50 -28.73 42.76
2017-06-30 1,480.85 -23.21 41.80
2017-03-31 2,137.19 -17.69 40.85
2016-12-31 2,216.15 -24.34 39.92
2016-09-30 2,295.10 -30.99 38.99
2016-06-30 1,834.34 -24.87 34.64
2016-03-31 1,373.59 -18.75 30.29
2015-12-31 1,092.65 -3.90 25.32
2015-09-30 811.71 10.95 20.35
2015-06-30 566.88 9.47 18.28
2015-03-31 322.06 7.98 16.22
2014-12-31 208.32 0.78 14.40
2014-09-30 94.58 -6.42 12.58
2014-06-30 53.76 -4.95 12.26
2014-03-31 12.94 -3.49 11.95
2013-12-31 6.47 -10.48 11.13
2013-09-30 -17.47 10.31
2013-06-30 -24.44 9.64
2013-03-31 -31.41 8.97

*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 Hong Kong ChaoShang 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 Hong Kong ChaoShang Group 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 Hong Kong ChaoShang 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 Hong Kong ChaoShang 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 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.
Hong Kong ChaoShang 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.

2322 Health

 How is Hong Kong ChaoShang 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 Hong Kong ChaoShang Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hong Kong ChaoShang Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hong Kong ChaoShang Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hong Kong ChaoShang 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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 24.2x 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 Hong Kong ChaoShang Group Company Filings, last reported 4 months ago.

SEHK:2322 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 697.39 23.60 200.20
2019-06-30 697.39 23.60 200.20
2019-03-31 748.30 18.56 210.89
2018-12-31 748.30 18.56 210.89
2018-09-30 764.02 16.51 206.17
2018-06-30 764.02 16.51 206.17
2018-03-31 869.18 20.39 251.48
2017-12-31 869.18 20.39 251.48
2017-09-30 856.85 19.68 217.54
2017-06-30 856.85 19.68 217.54
2017-03-31 845.05 19.71 162.78
2016-12-31 845.05 19.71 162.78
2016-09-30 849.97 94.90 326.35
2016-06-30 849.97 94.90 326.35
2016-03-31 877.77 130.55 561.77
2015-12-31 877.77 130.55 561.77
2015-09-30 288.70 98.91 265.50
2015-06-30 288.70 98.91 265.50
2015-03-31 215.63 0.02 152.56
2014-12-31 215.63 0.02 152.56
2014-09-30 206.17 1.44 138.97
2014-06-30 206.17 1.44 138.97
2014-03-31 60.21 0.76 163.03
2013-12-31 60.21 0.76 163.03
2013-09-30 63.79 2.43 36.86
2013-06-30 63.79 2.43 36.86
2013-03-31 31.00 14.26 16.29
  • Hong Kong ChaoShang Group's level of debt (3.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.7% vs 3.4% 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 Hong Kong ChaoShang Group has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Hong Kong ChaoShang Group has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -5% per year.
X
Financial health checks
We assess Hong Kong ChaoShang 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. Hong Kong ChaoShang 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.

2322 Dividends

 What is Hong Kong ChaoShang 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 Hong Kong ChaoShang Group dividends.
If you bought HK$2,000 of Hong Kong ChaoShang Group 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 Hong Kong ChaoShang Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Hong Kong ChaoShang 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
SEHK:2322 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 964 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.3%
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:2322 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts
SEHK:2322 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2011-11-17 0.000 0.000
2011-11-14 0.000 0.000
2011-06-30 0.000 0.000
2011-06-22 0.000 0.000
2011-02-21 0.000 0.000
2010-07-16 0.007 0.385
2009-07-21 0.010 0.649

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

  • Unable to perform a dividend volatility check as Hong Kong ChaoShang Group has not reported any payouts.
  • Unable to verify if Hong Kong ChaoShang Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Hong Kong ChaoShang Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Hong Kong ChaoShang 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 Hong Kong ChaoShang Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Hong Kong ChaoShang Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hong Kong ChaoShang 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.

2322 Management

 What is the CEO of Hong Kong ChaoShang 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
Chi Yuen Chan
COMPENSATION HK$3,725,000
AGE 52
TENURE AS CEO 8.7 years
CEO Bio

Mr. Chi Yuen Chan has been the Chief Executive Officer of Noble Century Investment Holdings Limited (formerly Sam Woo Holdings Ltd.) since June 30, 2011 and served as its Company Secretary from June 30, 2011 to February 13, 2017. Mr. Chan has been an Executive Director at Noble Century Investment Holdings Limited (formerly Sam Woo Holdings Ltd.) since June 24, 2011. Mr. Chan has a Bachelor's degree with honours in Business Administration and a Master of Science degree in Corporate Governance and Directorship.

CEO Compensation
  • Chi Yuen's compensation has increased whilst company is loss making.
  • Chi Yuen's remuneration is higher than average for companies of similar size in Hong Kong.
Management Team

Juhua Zheng

TITLE
Executive Chairman of the Board
COMPENSATION
HK$2M
AGE
47

Chi Yuen Chan

TITLE
CEO & Executive Director
COMPENSATION
HK$4M
AGE
52
TENURE
8.7 yrs

Yue Li

TITLE
Finance Manager
AGE
31

Wai Fung Chan

TITLE
Company Secretary & Financial Controller
AGE
37
TENURE
3 yrs
Board of Directors Tenure

Average tenure and age of the Hong Kong ChaoShang Group board of directors in years:

8.8
Average Tenure
52
Average Age
  • The tenure for the Hong Kong ChaoShang Group board of directors is about average.
Board of Directors

Juhua Zheng

TITLE
Executive Chairman of the Board
COMPENSATION
HK$2M
AGE
47
TENURE
8.8 yrs

Chi Yuen Chan

TITLE
CEO & Executive Director
COMPENSATION
HK$4M
AGE
52
TENURE
8.7 yrs

Kenneth Chi

TITLE
Independent Non Executive Director
COMPENSATION
HK$150K
AGE
50
TENURE
8.8 yrs

Peter Yu

TITLE
Independent Non Executive Director
COMPENSATION
HK$150K
AGE
68

Kwok Man

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
72
TENURE
8.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
08. May 19 Sell China Construction Bank Corporation, Asset Management Arm Company 08. May 19 08. May 19 -96,000 HK$0.62 HK$-59,760
X
Management checks
We assess Hong Kong ChaoShang 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. Hong Kong ChaoShang 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.

2322 News

Simply Wall St News

How Much Of Noble Century Investment Holdings Limited (HKG:2322) Do Insiders Own?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' With a market capitalization of HK$1.8b, Noble Century Investment Holdings is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Noble Century Investment Holdings SEHK:2322 Ownership Summary, August 15th 2019 What Does The Institutional Ownership Tell Us About Noble Century Investment Holdings? … As you can see, institutional investors own 8.0% of Noble Century Investment Holdings.

Simply Wall St -

Noble Century Investment Holdings (HKG:2322) Seems To Be Really Weighed Down By Its Debt

We note that Noble Century Investment Holdings Limited (HKG:2322) does have debt on its balance sheet. … SEHK:2322 Historical Debt, July 24th 2019 A Look At Noble Century Investment Holdings's Liabilities We can see from the most recent balance sheet that Noble Century Investment Holdings had liabilities of HK$55.2m falling due within a year, and liabilities of HK$3.02m due beyond that. … It's good to see that Noble Century Investment Holdings has plenty of liquidity on its balance sheet, suggesting conservative management of liabilities.

Simply Wall St -

Noble Century Investment Holdings Limited's (HKG:2322) Single Biggest Risk For Investors

Currently, Noble Century Investment Holdings has HK$229m in cash holdings and producing negative free cash flow of -HK$52.4m. … We can measure Noble Century Investment Holdings's ongoing cash expenditure requirements by looking at free cash flow, which I define as cash flow from operations minus fixed capital investment, is a measure of how much cash a company generates/loses each year. … Next Steps: Even if Noble Century Investment Holdings continues to ramp up cash burn at its current high rate over the next few years, my analysis shows us it will still not need to raise capital or take on debt any time soon.

Simply Wall St -

What Kind Of Shareholder Appears On The Noble Century Investment Holdings Limited's (HKG:2322) Shareholder Register?

The big shareholder groups in Noble Century Investment Holdings Limited (HKG:2322) have power over the company. … Noble Century Investment Holdings is a smaller company with a market capitalization of HK$2.6b, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Noble Century Investment Holdings

Simply Wall St -

The Noble Century Investment Holdings (HKG:2322) Share Price Has Gained 202%, So Why Not Pay It Some Attention?

The Noble Century Investment Holdings Limited (HKG:2322) share price is down a rather concerning 39% in the last month. … Noble Century Investment Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … For the last half decade, Noble Century Investment Holdings can boast revenue growth at a rate of 23% per year.

Simply Wall St -

Is Noble Century Investment Holdings Limited's (HKG:2322) CEO Paid At A Competitive Rate?

Chi Yuen Chan has been the CEO of Noble Century Investment Holdings Limited (HKG:2322) since 2011. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Chi Yuen Chan's Compensation Compare With Similar Sized Companies?

Simply Wall St -

How Much Are Noble Century Investment Holdings Limited (HKG:2322) Insiders Spending On Buying Shares?

So we'll take a look at whether insiders have been buying or selling shares in Noble Century Investment Holdings Limited (HKG:2322). … View our latest analysis for Noble Century Investment Holdings. … Noble Century Investment Holdings Insider Transactions Over The Last Year.

Simply Wall St -

Do Insiders Own Shares In Noble Century Investment Holdings Limited (HKG:2322)?

If you want to know who really controls Noble Century Investment Holdings Limited (HKG:2322), then you'll have to look at the makeup of its share registry. … Noble Century Investment Holdings is a smaller company with a market capitalization of HK$2.3b, so it may still be flying under the radar of many institutional investors. … Check out our latest analysis for Noble Century Investment Holdings

Simply Wall St -

Why Noble Century Investment Holdings Limited's (HKG:2322) CEO Pay Matters To You

In 2011 Chi Yuen Chan was appointed CEO of Noble Century Investment Holdings Limited (HKG:2322). … According to our data, Noble Century Investment Holdings Limited has a market capitalization of HK$2.1b, and pays its CEO total annual compensation worth HK$3m. … It would therefore appear that Noble Century Investment Holdings Limited pays Chi Yuen Chan more than the median CEO remuneration at companies of a similar size, in the same market

Simply Wall St -

Who Owns Most Of Noble Century Investment Holdings Limited (HKG:2322)?

In this article, I will take a quick look at Noble Century Investment Holdings Limited’s (HKG:2322) recent ownership structure – an unconventional investing subject, but an important one. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … View out our latest analysis for Noble Century Investment Holdings

Simply Wall St -

2322 Company Info

Description

Hong Kong ChaoShang Group Limited, an investment holding company, engages in vessel chartering, trading, money lending, factoring, and finance leasing businesses in the People’s Republic of China and Southeast Asia. It owns a multi-purpose deck cargo ship for carriage of construction material and waste. The company also trades in molds, electronics products, smartphones, communication equipment parts, seafood, frozen meats and food, and methanol; and provides factoring, entrusted loan financing, and finance leasing and sale-leaseback services. In addition, it provides consultancy services. The company was formerly known as Noble Century Investment Holdings Limited and changed its name to Hong Kong ChaoShang Group Limited in August 2019. Hong Kong ChaoShang Group Limited is based in Wanchai, Hong Kong.

Details
Name: Hong Kong ChaoShang Group Limited
2322
Exchange: SEHK
Founded:
HK$3,090,450,000
4,120,600,000
Website: http://www.noblecentury.hk
Address: Hong Kong ChaoShang Group Limited
China Resources Building,
Suite 2202,
Wanchai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2322 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 09. Apr 2003
SEHK 2322 HKD0.02 The Stock Exchange of Hong Kong Ltd. HK HKD 20. Feb 2020
Number of employees
Current staff
Staff numbers
44
Hong Kong ChaoShang Group employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 12:48
End of day share price update: 2020/02/20 00:00
Last estimates confirmation: 2017/06/28
Last earnings filing: 2019/12/16
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


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.