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Chen Xing Development Holdings

SEHK:2286
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2286
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Real Estate
Company description

Chen Xing Development Holdings Limited, an investment holding company, engages in the development and sale of residential and commercial properties in Mainland China. The last earnings update was 71 days ago. More info.


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2286 Share Price and Events
7 Day Returns
-4.6%
SEHK:2286
-1.1%
HK Real Estate
-1.8%
HK Market
1 Year Returns
63.4%
SEHK:2286
1.4%
HK Real Estate
-2.8%
HK Market
2286 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chen Xing Development Holdings (2286) -4.6% -6% 22% 63.4% 35.9% -
HK Real Estate -1.1% -3.8% 2.2% 1.4% 31% 36.4%
HK Market -1.8% -4.6% -1% -2.8% 4.1% -2.9%
1 Year Return vs Industry and Market
  • 2286 outperformed the Real Estate industry which returned 1.4% over the past year.
  • 2286 outperformed the Market in Hong Kong which returned -2.8% over the past year.
Price Volatility
2286
Industry
5yr Volatility vs Market

2286 Value

 Is Chen Xing Development 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 Chen Xing Development 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 Chen Xing Development Holdings.

SEHK:2286 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 10.8%
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:2286
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 1.6%
Equity Risk Premium S&P Global 6.3%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.056 (1 + (1- 25%) (78.68%))
1.455
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.46
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.55% + (1.455 * 6.33%)
10.76%

Discounted Cash Flow Calculation for SEHK:2286 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chen Xing Development 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:2286 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.76%)
2020 658.00 Est @ -9.28% 594.06
2021 618.32 Est @ -6.03% 503.99
2022 595.10 Est @ -3.76% 437.93
2023 582.22 Est @ -2.16% 386.82
2024 576.11 Est @ -1.05% 345.56
2025 574.55 Est @ -0.27% 311.14
2026 576.14 Est @ 0.28% 281.68
2027 579.93 Est @ 0.66% 255.99
2028 585.30 Est @ 0.93% 233.25
2029 591.81 Est @ 1.11% 212.93
Present value of next 10 years cash flows CN¥3,563.00
SEHK:2286 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥591.81 × (1 + 1.55%) ÷ (10.76% – 1.55%)
CN¥6,523.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥6,523.18 ÷ (1 + 10.76%)10
CN¥2,346.97
SEHK:2286 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥3,563.00 + CN¥2,346.97
CN¥5,909.97
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥5,909.97 / 600.00
CN¥9.85
SEHK:2286 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2286)
1.111
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥9.85 x 1.111
HK$10.94
Value per share (HKD) From above. HK$10.94
Current discount Discount to share price of HK$2.50
= -1 x (HK$2.50 - HK$10.94) / HK$10.94
77.1%

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

Current Discount
Amount off the current price Chen Xing Development Holdings is available for.
Intrinsic value
>50%
Share price is HK$2.5 vs Future cash flow value of HK$10.94
Current Discount Checks
For Chen Xing Development Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chen Xing Development Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chen Xing Development 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 Chen Xing Development Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chen Xing Development Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2286 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CNY CN¥0.27
SEHK:2286 Share Price ** SEHK (2019-12-06) in HKD HK$2.5
SEHK:2286 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.9 CN¥2.25
Hong Kong Real Estate Industry PE Ratio Median Figure of 189 Publicly-Listed Real Estate Companies 6.35x
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 Chen Xing Development Holdings.

SEHK:2286 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2286 Share Price ÷ EPS (both in CNY)

= 2.25 ÷ 0.27

8.43x

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

  • Chen Xing Development Holdings is overvalued based on earnings compared to the HK Real Estate industry average.
  • Chen Xing Development Holdings is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Chen Xing Development Holdings's expected growth come at a high price?
Raw Data
SEHK:2286 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Hong Kong Real Estate Industry PEG Ratio Median Figure of 64 Publicly-Listed Real Estate Companies 0.26x
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 Chen Xing Development Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chen Xing Development Holdings's assets?
Raw Data
SEHK:2286 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CNY CN¥2.15
SEHK:2286 Share Price * SEHK (2019-12-06) in HKD HK$2.5
SEHK:2286 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.9 CN¥2.25
Hong Kong Real Estate Industry PB Ratio Median Figure of 237 Publicly-Listed Real Estate Companies 0.5x
Hong Kong Market PB Ratio Median Figure of 2,203 Publicly-Listed Companies 0.81x
SEHK:2286 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2286 Share Price ÷ Book Value per Share (both in CNY)

= 2.25 ÷ 2.15

1.05x

* Primary Listing of Chen Xing Development Holdings.

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

  • Chen Xing Development Holdings is overvalued based on assets compared to the HK Real Estate industry average.
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Value checks
We assess Chen Xing Development 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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Chen Xing Development 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.

2286 Future Performance

 How is Chen Xing Development 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 Chen Xing Development 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
7.2%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chen Xing Development Holdings expected to grow at an attractive rate?
  • Unable to compare Chen Xing Development Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Chen Xing Development Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare Chen Xing Development Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:2286 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 7.2%
Hong Kong Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 15.9%
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:2286 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:2286 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-06-30 1,252 737 145
2019-03-31 1,158 802 135
2018-12-31 1,065 867 125
2018-09-30 1,144 283 163
2018-06-30 1,224 -301 200
2018-03-31 1,150 -311 186
2017-12-31 1,077 -321 171
2017-09-30 1,031 297 153
2017-06-30 986 915 135
2017-03-31 1,034 873 143
2016-12-31 1,082 831 152
2016-09-30 1,075 521 232

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Chen Xing Development Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Chen Xing Development 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:2286 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 Chen Xing Development Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2286 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-06-30 0.27
2019-03-31 0.26
2018-12-31 0.25
2018-09-30 0.33
2018-06-30 0.40
2018-03-31 0.37
2017-12-31 0.34
2017-09-30 0.31
2017-06-30 0.27
2017-03-31 0.29
2016-12-31 0.30
2016-09-30 0.46

*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 Chen Xing Development Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Chen Xing Development Holdings is trading at Chen Xing Development 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. Chen Xing Development 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 Real Estate companies here
  3. Chen Xing Development 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 Chen Xing Development 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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong 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.
Chen Xing Development 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.

2286 Past Performance

  How has Chen Xing Development 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 Chen Xing Development Holdings's growth in the last year to its industry (Real Estate).
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.
  • Chen Xing Development Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Chen Xing Development Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Chen Xing Development Holdings's 1-year earnings growth is negative, it can't be compared to the HK Real Estate industry average.
Earnings and Revenue History
Chen Xing Development 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 Chen Xing Development Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2286 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 1,252.23 144.76 153.90
2019-03-31 1,158.46 134.82 141.18
2018-12-31 1,064.69 124.89 128.46
2018-09-30 1,144.21 162.69 108.42
2018-06-30 1,223.73 200.49 88.38
2018-03-31 1,150.21 185.50 90.09
2017-12-31 1,076.69 170.52 91.80
2017-09-30 1,031.28 152.76 97.85
2017-06-30 985.87 135.00 103.90
2017-03-31 1,033.93 143.42 100.44
2016-12-31 1,081.99 151.83 96.98
2016-09-30 1,075.10 232.15 99.37
2016-06-30 1,068.21 312.46 101.75
2016-03-31 1,017.21 301.28 104.97
2015-12-31 966.21 290.10 108.20
2015-09-30 1,123.84 223.78 113.15
2015-06-30 1,032.22 139.00 96.10
2015-03-31 929.06 121.67 85.53
2014-12-31 825.89 104.34 74.96
2014-09-30 386.22 39.28 53.78
2013-12-31 303.20 14.43 42.26
2012-12-31 258.50 20.86 45.22

*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.
  • Chen Xing Development Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chen Xing Development Holdings used its assets less efficiently than the HK Real Estate industry average last year based on Return on Assets.
  • Chen Xing Development Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chen Xing Development 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 Real Estate 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.
Chen Xing Development 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.

2286 Health

 How is Chen Xing Development 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 Chen Xing Development Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chen Xing Development Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chen Xing Development Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chen Xing Development 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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 8.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Chen Xing Development Holdings Company Filings, last reported 5 months ago.

SEHK:2286 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,412.09 1,084.03 1,333.51
2019-03-31 1,412.09 1,084.03 1,333.51
2018-12-31 1,197.83 858.57 1,932.59
2018-09-30 1,197.83 858.57 1,932.59
2018-06-30 1,130.50 811.53 1,071.34
2018-03-31 1,130.50 811.53 1,071.34
2017-12-31 1,107.70 446.00 759.67
2017-09-30 1,107.70 446.00 759.67
2017-06-30 955.55 405.00 734.10
2017-03-31 955.55 405.00 734.10
2016-12-31 1,062.04 281.00 784.40
2016-09-30 1,062.04 281.00 784.40
2016-06-30 957.36 598.00 408.20
2016-03-31 957.36 598.00 408.20
2015-12-31 1,123.28 742.00 709.12
2015-09-30 1,123.28 742.00 709.12
2015-06-30 601.54 747.00 436.97
2015-03-31 601.54 747.00 436.97
2014-12-31 578.26 627.00 429.52
2014-09-30 665.58 540.44 306.91
2013-12-31 718.59 641.49 208.64
2012-12-31 566.68 414.96 115.67
  • Chen Xing Development Holdings's level of debt (76.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (84% vs 76.8% today).
  • Debt is well covered by operating cash flow (68%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 98.5x coverage).
X
Financial health checks
We assess Chen Xing Development 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. Chen Xing Development Holdings 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.

2286 Dividends

 What is Chen Xing Development 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 Chen Xing Development Holdings dividends.
If you bought HK$2,000 of Chen Xing Development 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 Chen Xing Development Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Chen Xing Development 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:2286 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 Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 136 Stocks 4.4%
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:2286 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-09-26 0.000 0.000
2019-08-20 0.000 0.000
2019-04-29 0.000 0.000
2019-03-27 0.000 0.000
2018-03-27 0.160 12.125
2017-04-26 0.240 15.863
2017-03-24 0.265 12.893
2016-04-18 0.417 25.489
2016-03-24 0.416 19.109

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

  • Unable to perform a dividend volatility check as Chen Xing Development Holdings has not reported any payouts.
  • Unable to verify if Chen Xing Development Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Chen Xing Development Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Chen Xing Development 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 Chen Xing Development 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 Chen Xing Development Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chen Xing Development 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.

2286 Management

 What is the CEO of Chen Xing Development 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
Wukui Bai
COMPENSATION CN¥650,000
AGE 55
TENURE AS CEO 15 years
CEO Bio

Mr. Wukui Bai is a founder Chen Xing Development Holdings Limited.and has been its Chief Executive Officer since December 2004. Mr. Bai is responsible for strategic planning and execution, corporate governance functions as well as day-to-day business management. He has accumulated over 15 years of experience in the property development industry. He joined Yuci Xinxing Real Estate Development Co., Ltd. in January 1997 as director and chief executive officer, responsible for development strategy, business plan, financial accounting, administrative and other matters until August 2007. Since December 2004, he has worked in Chen Xing as general manager, responsible for implementation of resolutions of the board and overall management and operation where he is responsible for participation in board meetings and involved in major decisions including execution of loans, guarantees and other material contracts by Chen Xing and still assumed the above positions as at the Latest Practicable Date. He has been an Executive Director of Chen Xing Development Holdings Limited since February 5th 2015. Mr. Bai served as the Standing member of China Real Estate Association from March 2010 to March 2014.

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

Average tenure and age of the Chen Xing Development Holdings management team in years:

7.4
Average Tenure
42.5
Average Age
  • The average tenure for the Chen Xing Development Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Xuankui Bai

TITLE
Chairman of the Board
COMPENSATION
CN¥650K
AGE
66

Wukui Bai

TITLE
CEO & Executive Director
COMPENSATION
CN¥650K
AGE
55
TENURE
15 yrs

Guohua Bai

TITLE
Executive VP & Executive Director
COMPENSATION
CN¥243K
AGE
42
TENURE
3.8 yrs

Shiguang Dong

TITLE
Executive Director
COMPENSATION
CN¥119K
AGE
61

Aijing Bai

TITLE
Chief Financial Officer
AGE
41
TENURE
6.9 yrs

Haijun Zhao

TITLE
Deputy General Manager of Operation
AGE
43
TENURE
10.8 yrs

Binzhou Wang

TITLE
Deputy General Manager of Administration
AGE
41
TENURE
7.8 yrs

Wing Shan Ng

TITLE
Company Secretary
AGE
42
TENURE
4.8 yrs
Board of Directors Tenure

Average tenure and age of the Chen Xing Development Holdings board of directors in years:

4.8
Average Tenure
55
Average Age
  • The tenure for the Chen Xing Development Holdings board of directors is about average.
Board of Directors

Xuankui Bai

TITLE
Chairman of the Board
COMPENSATION
CN¥650K
AGE
66
TENURE
4.8 yrs

Wukui Bai

TITLE
CEO & Executive Director
COMPENSATION
CN¥650K
AGE
55
TENURE
4.8 yrs

Guohua Bai

TITLE
Executive VP & Executive Director
COMPENSATION
CN¥243K
AGE
42
TENURE
5.1 yrs

Shiguang Dong

TITLE
Executive Director
COMPENSATION
CN¥119K
AGE
61
TENURE
4.8 yrs

Jiong Gu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥120K
AGE
47
TENURE
4.5 yrs

Hua Tian

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥40K
AGE
55
TENURE
4.5 yrs

Yongqing Qiu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥40K
AGE
53
TENURE
4.5 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$) Value (HK$)
11. Nov 19 Sell Honesty Priority Global Holdings Limited Company 04. Nov 19 04. Nov 19 -16,000 HK$2.70 HK$-43,200
11. Nov 19 Sell Honesty Priority Global Holdings Limited Company 01. Nov 19 01. Nov 19 -230,000 HK$2.48 HK$-570,491
11. Nov 19 Sell Honesty Priority Global Holdings Limited Company 30. Oct 19 30. Oct 19 -100,000 HK$2.45 HK$-245,000
X
Management checks
We assess Chen Xing Development 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. Chen Xing Development 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.

2286 News

Simply Wall St News

One Thing To Remember About The Chen Xing Development Holdings Limited (HKG:2286) Share Price

If you own shares in Chen Xing Development Holdings Limited (HKG:2286) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … Beta is worth considering, but it's also important to consider whether Chen Xing Development Holdings is growing earnings and revenue. … What this means for you: Chen Xing Development Holdings has a beta value quite close to that of the overall market.

Simply Wall St -

How Should Investors Feel About Chen Xing Development Holdings Limited's (HKG:2286) CEO Pay?

See our latest analysis for Chen Xing Development Holdings How Does Wukui Bai's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that Chen Xing Development Holdings Limited has a market cap of HK$1.1b, and is paying total annual CEO compensation of CN¥650k. … It looks like Chen Xing Development Holdings Limited pays its CEO less than similar sized companies.

Simply Wall St -

Is Chen Xing Development Holdings Limited's (HKG:2286) ROE Of 11% Impressive?

Check out our latest analysis for Chen Xing Development Holdings How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Chen Xing Development Holdings: 11% = CN¥125m ÷ CN¥1.2b (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Chen Xing Development Holdings's Debt And Its 11% ROE Although Chen Xing Development Holdings does use debt, its debt to equity ratio of 0.72 is still low.

Simply Wall St -

Are Chen Xing Development Holdings Limited's (HKG:2286) Interest Costs Too High?

Additionally, 2286 has generated cash from operations of CN¥867m during the same period of time, leading to an operating cash to total debt ratio of 101%, indicating that 2286’s current level of operating cash is high enough to cover debt. … Looking at 2286’s CN¥7.2b in current liabilities, it appears that the company has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 1.13x. … Next Steps: Although 2286’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

Simply Wall St -

What You Must Know About Chen Xing Development Holdings Limited's (HKG:2286) Beta Value

Volatility is considered to be a measure of risk in modern finance theory. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Could Chen Xing Development Holdings Limited's (HKG:2286) Investor Composition Influence The Stock Price?

Every investor in Chen Xing Development Holdings Limited (HKG:2286) should be aware of the most powerful shareholder groups. … Chen Xing Development Holdings is not a large company by global standards. … See our latest analysis for Chen Xing Development Holdings

Simply Wall St -

Imagine Owning Chen Xing Development Holdings (HKG:2286) And Wondering If The 28% Share Price Slide Is Justified

We regret to report that long term Chen Xing Development Holdings Limited (HKG:2286) shareholders have had that experience, with the share price dropping 28% in three years, versus a market return of about 42%. … Check out our latest analysis for Chen Xing Development Holdings. … Although the share price is down over three years, Chen Xing Development Holdings actually managed to grow EPS by 4.9% per year in that time.

Simply Wall St -

Does Chen Xing Development Holdings Limited's (HKG:2286) CEO Pay Reflect Performance?

In 2004 Wukui Bai was appointed CEO of Chen Xing Development Holdings Limited (HKG:2286). … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … View our latest analysis for Chen Xing Development Holdings

Simply Wall St -

Do You Like Chen Xing Development Holdings Limited (HKG:2286) At This P/E Ratio?

We'll look at Chen Xing Development Holdings Limited's (HKG:2286) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 3.45 = CN¥1.38 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥0.40

Simply Wall St -

Chen Xing Development Holdings Limited (HKG:2286): Time For A Financial Health Check

However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

2286 Company Info

Description

Chen Xing Development Holdings Limited, an investment holding company, engages in the development and sale of residential and commercial properties in Mainland China. The company’s projects include residential apartments, townhouses, shopping malls, and office buildings. It is also involved in the provision of business management and property services; manufacture and installation of doors and windows; and property construction, management, and leasing activities, as well as sale of construction materials. The company was founded in 1997 and is headquartered in Jinzhong, the People's Republic of China.

Details
Name: Chen Xing Development Holdings Limited
2286
Exchange: SEHK
Founded: 1997
HK$1,529,999,971
599,999,989
Website: http://www.chen-xing.cn
Address: Chen Xing Development Holdings Limited
18 Anning Street,
Yuci Dristrict,
Jinzhong,
Shanxi Province, China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2286 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 03. Jul 2015
Number of employees
Current staff
Staff numbers
191
Chen Xing Development Holdings employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/06 12:56
End of day share price update: 2019/12/06 00:00
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.