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Silk Road Logistics Holdings

SEHK:988
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
988
SEHK
HK$154M
Market Cap
  1. Home
  2. HK
  3. Capital Goods
Company description

Silk Road Logistics Holdings Limited, an investment holding company, primarily engages in the trading of commodities in the People's Republic of China and internationally. The last earnings update was 81 days ago. More info.


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  • Silk Road Logistics Holdings has significant price volatility in the past 3 months.
988 Share Price and Events
7 Day Returns
-10%
SEHK:988
2.6%
HK Trade Distributors
3.7%
HK Market
1 Year Returns
-43.8%
SEHK:988
-2.6%
HK Trade Distributors
2.4%
HK Market
988 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Silk Road Logistics Holdings (988) -10% 8% -18.2% -43.8% -94.2% -95.4%
HK Trade Distributors 2.6% -26.4% -21.8% -2.6% -19.6% -61.2%
HK Market 3.7% 4.2% 1.1% 2.4% 12.9% 2.5%
1 Year Return vs Industry and Market
  • 988 underperformed the Trade Distributors industry which returned -2.6% over the past year.
  • 988 underperformed the Market in Hong Kong which returned 2.4% over the past year.
Price Volatility
988
Industry
5yr Volatility vs Market

988 Value

 Is Silk Road Logistics Holdings undervalued based on future cash flows and its price relative to the stock market?

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

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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Silk Road Logistics Holdings.

SEHK:988 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 13.7%
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:988
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 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.955 (1 + (1- 25%) (302.94%))
2.423
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 * 6.07%)
13.69%

Discounted Cash Flow Calculation for SEHK:988 using 2 Stage Free Cash Flow to Equity Model

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

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

SEHK:988 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 13.69%)
2020 700.59 Est @ 90.92% 616.23
2021 1,149.74 Est @ 64.11% 889.52
2022 1,671.06 Est @ 45.34% 1,137.17
2023 2,209.23 Est @ 32.2% 1,322.36
2024 2,717.53 Est @ 23.01% 1,430.75
2025 3,167.85 Est @ 16.57% 1,467.00
2026 3,550.03 Est @ 12.06% 1,446.03
2027 3,866.35 Est @ 8.91% 1,385.23
2028 4,125.48 Est @ 6.7% 1,300.09
2029 4,338.21 Est @ 5.16% 1,202.51
Present value of next 10 years cash flows HK$12,196.00
SEHK:988 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$4,338.21 × (1 + 1.55%) ÷ (13.69% – 1.55%)
HK$36,288.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$36,288.69 ÷ (1 + 13.69%)10
HK$10,058.86
SEHK:988 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$12,196.00 + HK$10,058.86
HK$22,254.86
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$22,254.86 / 5,703.62
HK$3.9
SEHK:988 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$3.90
Current discount Discount to share price of HK$0.03
= -1 x (HK$0.03 - HK$3.90) / HK$3.90
99.3%

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

Current Discount
Amount off the current price Silk Road Logistics Holdings is available for.
Intrinsic value
>50%
Share price is HK$0.03 vs Future cash flow value of HK$3.9
Current Discount Checks
For Silk Road Logistics Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Silk Road Logistics Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Silk Road Logistics Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Silk Road Logistics Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Silk Road Logistics Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:988 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in HKD HK$-0.07
SEHK:988 Share Price ** SEHK (2019-12-13) in HKD HK$0.03
Hong Kong Trade Distributors Industry PE Ratio Median Figure of 27 Publicly-Listed Trade Distributors Companies 8.95x
Hong Kong Market PE Ratio Median Figure of 1,472 Publicly-Listed Companies 10.27x

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

** Primary Listing of Silk Road Logistics Holdings.

SEHK:988 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:988 Share Price ÷ EPS (both in HKD)

= 0.03 ÷ -0.07

-0.39x

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

  • Silk Road Logistics Holdings is loss making, we can't compare its value to the HK Trade Distributors industry average.
  • Silk Road Logistics Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does Silk Road Logistics Holdings's expected growth come at a high price?
Raw Data
SEHK:988 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.39x
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 1.31x
Hong Kong Market PEG Ratio Median Figure of 479 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 Silk Road Logistics Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Silk Road Logistics Holdings's assets?
Raw Data
SEHK:988 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in HKD HK$0.12
SEHK:988 Share Price * SEHK (2019-12-13) in HKD HK$0.03
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 2,207 Publicly-Listed Companies 0.82x
SEHK:988 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:988 Share Price ÷ Book Value per Share (both in HKD)

= 0.03 ÷ 0.12

0.23x

* Primary Listing of Silk Road Logistics Holdings.

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

  • Silk Road Logistics Holdings is good value based on assets compared to the HK Trade Distributors industry average.
X
Value checks
We assess Silk Road Logistics Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the 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. Silk Road Logistics Holdings has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

988 Future Performance

 How is Silk Road Logistics Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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

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

Show me the analysis anyway

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.7%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Silk Road Logistics Holdings expected to grow at an attractive rate?
  • Unable to compare Silk Road Logistics Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Silk Road Logistics Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Silk Road Logistics Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:988 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 3.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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:988 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 HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:988 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-06-30 13,606 396 -394
2019-03-31 12,572 253 -424
2018-12-31 11,537 109 -453
2018-09-30 7,771 20 -279
2018-06-30 4,004 -68 -104
2018-03-31 3,547 -70 -94
2017-12-31 3,090 -71 -83
2017-09-30 3,580 -86 -63
2017-06-30 4,071 -101 -42
2017-03-31 3,316 -56 -52
2016-12-31 2,561 -11 -61
2016-09-30 1,872 52 -581

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Silk Road Logistics Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Silk Road Logistics Holdings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:988 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 Silk Road Logistics Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:988 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-06-30 -0.07
2019-03-31 -0.07
2018-12-31 -0.08
2018-09-30 -0.05
2018-06-30 -0.02
2018-03-31 -0.02
2017-12-31 -0.02
2017-09-30 -0.01
2017-06-30 -0.01
2017-03-31 -0.01
2016-12-31 -0.02
2016-09-30 -0.15

*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 Silk Road Logistics Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Silk Road Logistics Holdings is trading at Silk Road Logistics Holdings'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Silk Road Logistics Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Silk Road Logistics Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Silk Road Logistics Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the 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.
Silk Road Logistics Holdings has a total score of 0/6, see the detailed checks below.

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

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

988 Past Performance

  How has Silk Road Logistics Holdings performed over the past 5 years?

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

All data from Silk Road Logistics Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:988 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 13,606.22 -394.43 159.82
2019-03-31 12,571.58 -423.89 155.47
2018-12-31 11,536.94 -453.36 151.12
2018-09-30 7,770.62 -278.70 102.52
2018-06-30 4,004.30 -104.03 53.92
2018-03-31 3,547.31 -93.74 51.55
2017-12-31 3,090.31 -83.44 49.19
2017-09-30 3,580.48 -62.60 52.03
2017-06-30 4,070.66 -41.77 54.87
2017-03-31 3,315.95 -51.51 52.18
2016-12-31 2,561.25 -61.25 49.49
2016-09-30 1,872.37 -580.64 182.12
2016-06-30 1,183.50 -1,100.03 314.76
2016-03-31 1,376.70 -1,196.01 435.34
2015-12-31 1,569.90 -1,291.99 555.92
2015-09-30 3,228.94 -967.53 547.17
2015-06-30 4,887.98 -643.06 538.41
2015-03-31 5,356.92 -510.03 472.82
2014-12-31 5,825.86 -376.99 407.22
2014-09-30 4,985.12 -1,493.70 455.46
2014-06-30 4,144.37 -2,610.41 503.70
2014-03-31 3,625.16 -2,595.96 441.91
2013-12-31 3,105.95 -2,581.51 380.13
2013-09-30 2,326.80 -1,247.12 231.68
2013-06-30 1,547.65 87.26 83.24
2013-03-31 1,890.48 112.87 133.44
2012-12-31 2,233.32 138.48 183.65

*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 Silk Road Logistics Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Silk Road Logistics Holdings 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 Silk Road Logistics Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Silk Road Logistics Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the 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.
Silk Road Logistics Holdings has a total score of 0/6, see the detailed checks below.

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

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

988 Health

 How is Silk Road Logistics Holdings's financial health and their level of debt?

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

The boxes below represent the relative size of what makes up Silk Road Logistics Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Silk Road Logistics Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Silk Road Logistics Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Silk Road Logistics Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.9x 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 Silk Road Logistics Holdings Company Filings, last reported 5 months ago.

SEHK:988 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 756.16 451.68 326.34
2019-03-31 756.16 451.68 326.34
2018-12-31 739.14 466.41 43.58
2018-09-30 739.14 466.41 43.58
2018-06-30 1,105.51 504.44 29.76
2018-03-31 1,105.51 504.44 29.76
2017-12-31 1,239.04 486.10 18.66
2017-09-30 1,239.04 486.10 18.66
2017-06-30 186.03 823.44 15.50
2017-03-31 186.03 823.44 15.50
2016-12-31 204.88 2,584.09 78.39
2016-09-30 204.88 2,584.09 78.39
2016-06-30 553.58 2,684.50 10.77
2016-03-31 553.58 2,684.50 10.77
2015-12-31 301.50 2,589.91 457.72
2015-09-30 301.50 2,589.91 457.72
2015-06-30 729.94 2,071.59 20.30
2015-03-31 729.94 2,071.59 20.30
2014-12-31 987.14 2,103.49 37.41
2014-09-30 987.14 2,103.49 37.41
2014-06-30 1,119.42 26.34 24.44
2014-03-31 1,119.42 26.34 24.44
2013-12-31 1,118.76 1,641.09 8.91
2013-09-30 1,118.76 1,641.09 8.91
2013-06-30 4,055.70 1,363.45 57.72
2013-03-31 4,055.70 1,363.45 57.72
2012-12-31 3,940.18 1,350.49 33.64
  • Silk Road Logistics Holdings's level of debt (59.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (4.4% vs 59.7% 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 Silk Road Logistics Holdings has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Silk Road Logistics Holdings has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -65.9% per year.
X
Financial health checks
We assess Silk Road Logistics Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Silk Road Logistics Holdings 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.

988 Dividends

 What is Silk Road Logistics Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Silk Road Logistics Holdings dividends.
If you bought HK$2,000 of Silk Road Logistics Holdings 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 Silk Road Logistics Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Silk Road Logistics Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:988 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 3.6%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 961 Stocks 3.6%
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 6.2%

Industry and Market average data is calculated daily.

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

SEHK:988 Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2012-09-17 0.000 0.000
2012-08-24 0.000 0.000
2012-05-11 0.000 0.000
2011-08-30 0.000 0.000
2011-03-28 0.021 2.501
2010-08-27 0.008 0.970

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

  • Unable to perform a dividend volatility check as Silk Road Logistics Holdings has not reported any payouts.
  • Unable to verify if Silk Road Logistics Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Silk Road Logistics Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Silk Road Logistics Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Silk Road Logistics Holdings'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 Silk Road Logistics Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Silk Road Logistics Holdings has a total score of 0/6, see the detailed checks below.


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

988 Management

 What is the CEO of Silk Road Logistics Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gang Fang
AGE 60
TENURE AS CEO 0.9 years
CEO Bio

Dr. Gang Fang has been Chief Executive Officer of Silk Road Logistics Holdings Limited since January 25, 2019. Dr. Fang served as the country Manager in China for Advanced Ceramic and Modules of Dutch Royal Philips Components, served as the country Manager in customer services in China for a Dutch company ASML in semi-conductor industry. He was appointed as the country Manager in China for a German company Dussmann Property Management Company. Dr. Fang also served as the Chief executives in public companies. He was the Chairman and General Manager of Oriental Energy Co., Ltd. in China in LPG international trading and sales business, the resident of Tianfa Petroleum Co., Ltd. in China in downstream oil and gas business. He served as the Chairman and the Chief Executive Officer for the period from April 2011 to June 2016 for a Canadian public company, Anterra Energy Inc. in upstream and midstream oil and gas business. Dr. Fang worked as business Partners with many European, American and Chinese enterprises in different areas related to China market, and established a good relationship, such as in environment protection industry, pipeline coating technology and equipment as well as technology and trade of agriculture products. In particular, in the field of energy, as the Chief executives of the companies, Dr. Fang’s business and cooperation activities involved many countries in Asia, Africa, Europe and North America, as well as many internationally renowned oil and gas companies as well as the new (or renewable) energy companies. Dr. Fang’s experience in the field of financial investment includes listed companies, investment banks, mergers and acquisitions, corporate debt restructuring, project investment and financing. In respect of academic qualification, Dr. Fang worked as teacher in Xi’an Jiaotong University of China in teaching mathematics, as a researcher in Eindhoven University of Technology in research of coding theory. He holds both a BSc in numerical mathematics and an MSc in applied mathematics from the Xi’an Jiaotong University of China, and a PhD in coding theory from the Eindhoven University of Technology of the Netherlands.

CEO Compensation
  • Insufficient data for Gang to compare compensation growth.
  • Insufficient data for Gang to establish whether their remuneration is reasonable compared to companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the Silk Road Logistics Holdings management team in years:

1.6
Average Tenure
43
Average Age
  • The average tenure for the Silk Road Logistics Holdings management team is less than 2 years, this suggests a new team.
Management Team

Henry Cai

TITLE
Chairman of the Board & President
COMPENSATION
HK$2M
AGE
60
TENURE
2.1 yrs

Xiusong Wang

TITLE
Executive Director
AGE
38
TENURE
1.1 yrs

Gang Fang

TITLE
Chief Executive Officer
AGE
60
TENURE
0.9 yrs

Kam Tim Kwok

TITLE
Chief Financial Officer
AGE
43

Rui Zhang

TITLE
Executive Director
AGE
38

Juliana Chiu

TITLE
Company Secretary
TENURE
6.7 yrs
Board of Directors Tenure

Average tenure and age of the Silk Road Logistics Holdings board of directors in years:

1.6
Average Tenure
46.5
Average Age
  • The average tenure for the Silk Road Logistics Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Henry Cai

TITLE
Chairman of the Board & President
COMPENSATION
HK$2M
AGE
60
TENURE
0.9 yrs

Xiusong Wang

TITLE
Executive Director
AGE
38
TENURE
1.1 yrs

Rui Zhang

TITLE
Executive Director
AGE
38
TENURE
0.9 yrs

Clement Leung

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
52
TENURE
7.1 yrs

Dengkai Zhu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
39
TENURE
2.9 yrs

Wei Liu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
64
TENURE
2.1 yrs

So Yuk Choy

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
69
TENURE
10.5 yrs

Zhao Wu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$150K
AGE
41
TENURE
3.5 yrs

Mingwu Zou

TITLE
Independent Non-Executive Director
AGE
64
TENURE
0.9 yrs

Hao Zhou

TITLE
Non-Executive Director
AGE
33
TENURE
0.8 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$) Value (HK$)
22. Mar 19 Buy Tewoo Group Co., Ltd. Company 01. Mar 19 01. Mar 19 50,000,000 HK$0.05 HK$2,650,033
X
Management checks
We assess Silk Road Logistics Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Silk Road Logistics Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

988 News

Simply Wall St News

Some Silk Road Logistics Holdings (HKG:988) Shareholders Have Taken A Painful 94% Share Price Drop

View our latest analysis for Silk Road Logistics Holdings Because Silk Road Logistics Holdings is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … In the last half decade, Silk Road Logistics Holdings saw its revenue increase by 11% per year. … SEHK:988 Income Statement, August 9th 2019 If you are thinking of buying or selling Silk Road Logistics Holdings stock, you should check out this FREE detailed report on its balance sheet.

Simply Wall St -

Do Institutions Own Silk Road Logistics Holdings Limited (HKG:988) Shares?

See our latest analysis for Silk Road Logistics Holdings SEHK:988 Ownership Summary, June 12th 2019 What Does The Institutional Ownership Tell Us About Silk Road Logistics Holdings? … Insider Ownership Of Silk Road Logistics Holdings The definition of an insider can differ slightly between different countries, but members of the board of directors always count. … General Public Ownership The general public, who are mostly retail investors, collectively hold 63% of Silk Road Logistics Holdings shares.

Simply Wall St -

Investors Who Bought Silk Road Logistics Holdings (HKG:988) Shares Five Years Ago Are Now Down 92%

Imagine if you held Silk Road Logistics Holdings Limited (HKG:988) for half a decade as the share price tanked 92%. … Given that Silk Road Logistics Holdings didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … In the last half decade, Silk Road Logistics Holdings saw its revenue increase by 11% per year.

Simply Wall St -

Are Silk Road Logistics Holdings Limited's (HKG:988) Interest Costs Too High?

While small-cap stocks, such as Silk Road Logistics Holdings Limited (HKG:988) with its market cap of HK$308m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … the current state of its operations and pathway to profitability.

Simply Wall St -

How Financially Strong Is Silk Road Logistics Holdings Limited (HKG:988)?

While small-cap stocks, such as Silk Road Logistics Holdings Limited (HKG:988) with its market cap of HK$314m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … the current state of its operations and pathway to profitability.

Simply Wall St -

Do You Know Who Else Invests In Silk Road Logistics Holdings Limited (HKG:988)?

In this analysis, my focus will be on developing a perspective on Silk Road Logistics Holdings Limited’s (HKG:988) latest ownership structure, a less discussed, but important factor. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … See our latest analysis for Silk Road Logistics Holdings

Simply Wall St -

How Financially Strong Is Silk Road Logistics Holdings Limited (HKG:988)?

Investors are always looking for growth in small-cap stocks like Silk Road Logistics Holdings Limited (HKG:988), with a market cap of HK$787.10m. … However, an important fact which most ignore is: how financially healthy is the business?

Simply Wall St -

What does Silk Road Logistics Holdings Limited's (HKG:988) Balance Sheet Tell Us About Its Future?

988's debt levels have fallen from HK$2.58B to HK$486.47M over the last 12 months , which comprises of short- and long-term debt. … Moving onto cash from operations, its trivial cash flows from operations make the cash-to-debt ratio less useful to us, though these low levels of cash means that operational efficiency is worth a look. … SEHK:988 Historical Debt May 12th 18 Is 988’s debt level acceptable?

Simply Wall St -

Should You Be Content With Silk Road Logistics Holdings Limited's (HKG:988) Earnings Growth?

See our latest analysis for Silk Road Logistics Holdings Were 988's earnings stronger than its past performances and the industry? … For Silk Road Logistics Holdings, its most recent earnings (trailing twelve month) is -HK$83.44M, which, in comparison to the prior year's level, has become less negative. … SEHK:988 Income Statement Mar 29th 18 We can further evaluate Silk Road Logistics Holdings's loss by looking at what the industry has been experiencing over the past few years.

Simply Wall St -

Should You Wait Before Investing In Silk Road Logistics Holdings Limited (HKG:988)?

Silk Road Logistics Holdings may need to come to market again, but the question is, when? … See our latest analysis for Silk Road Logistics Holdings What is cash burn? … My cash burn analysis suggests that, if Silk Road Logistics Holdings continues to spend its cash reserves at this current high rate, it’ll have to raise capital within the upcoming months, which may be a surprise to some shareholders.

Simply Wall St -

988 Company Info

Description

Silk Road Logistics Holdings Limited, an investment holding company, primarily engages in the trading of commodities in the People's Republic of China and internationally. The company operates through Commodities Trading, Oil, and Logistics segments. It is also involved in the exploration, extraction, production, and sale of oil; provision of well drilling, and transportation and warehousing services; and property holding business. The company was formerly known as Loudong General Nice Resources (China) and changed its name to Silk Road Logistics Holdings Limited in February 2018. Silk Road Logistics Holdings Limited was incorporated in 1993 and is based in Central, Hong Kong.

Details
Name: Silk Road Logistics Holdings Limited
988
Exchange: SEHK
Founded: 1993
HK$153,997,620
5,703,615,592
Website: http://www.silkroadlogistics.com.hk
Address: Silk Road Logistics Holdings Limited
China Merchants Tower,
Room 17-18,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 988 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 31. May 1994
DB PL9A Ordinary Shares Deutsche Boerse AG DE EUR 31. May 1994
Number of employees
Current staff
Staff numbers
50
Silk Road Logistics Holdings employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/15 12:46
End of day share price update: 2019/12/13 00:00
Last earnings filing: 2019/09/25
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.