Is China National Gold Group Gold Jewellery Co.,Ltd. (SHSE:600916) Expensive For A Reason? A Look At Its Intrinsic Value
Jul 12
Chinese (SSE) Luxury Industry Analysis
UpdatedJul 22, 2024
DataAggregated Company Financials
Companies106
- 7D-3.3%
- 3M-16.3%
- 1Y-25.2%
- YTD-22.5%
Over the last 7 days, the Luxury industry has dropped 3.3%, driven by a pullback from Huali Industrial Group of 4.8%. In contrast, Shijiazhuang ChangShan BeiMing TechnologyLtd has gained 9.9%. Overall the industry is down 25% in 12 months. As for the next few years, earnings are expected to grow by 19% per annum.
Industry Valuation and Performance
Has the Chinese Luxury Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 22 Jul 2024 | CN¥451.9b | CN¥459.6b | CN¥21.4b | 18.8x | 21.1x | 1x |
| Wed, 19 Jun 2024 | CN¥506.2b | CN¥460.7b | CN¥21.3b | 19.7x | 23.8x | 1.1x |
| Fri, 17 May 2024 | CN¥562.4b | CN¥458.9b | CN¥20.5b | 22.1x | 27.5x | 1.2x |
| Sun, 14 Apr 2024 | CN¥566.0b | CN¥443.9b | CN¥17.5b | 23.4x | 32.3x | 1.3x |
| Tue, 12 Mar 2024 | CN¥556.2b | CN¥450.1b | CN¥16.3b | 24.3x | 34.1x | 1.2x |
| Thu, 08 Feb 2024 | CN¥491.2b | CN¥449.9b | CN¥16.3b | 20.1x | 30.2x | 1.1x |
| Sat, 06 Jan 2024 | CN¥605.7b | CN¥457.7b | CN¥16.5b | 28.3x | 36.7x | 1.3x |
| Mon, 04 Dec 2023 | CN¥600.2b | CN¥450.6b | CN¥16.0b | 28.5x | 37.6x | 1.3x |
| Wed, 01 Nov 2023 | CN¥596.5b | CN¥449.3b | CN¥15.3b | 28.2x | 38.9x | 1.3x |
| Fri, 29 Sep 2023 | CN¥603.4b | CN¥448.1b | CN¥15.0b | 29.3x | 40.3x | 1.3x |
| Sun, 27 Aug 2023 | CN¥584.1b | CN¥449.1b | CN¥15.3b | 26.7x | 38.1x | 1.3x |
| Tue, 25 Jul 2023 | CN¥620.2b | CN¥443.6b | CN¥14.5b | 29.3x | 42.8x | 1.4x |
| Thu, 22 Jun 2023 | CN¥596.2b | CN¥443.6b | CN¥14.5b | 28.7x | 41.1x | 1.3x |
| Sat, 20 May 2023 | CN¥615.2b | CN¥443.4b | CN¥14.4b | 29x | 42.8x | 1.4x |
| Mon, 17 Apr 2023 | CN¥617.7b | CN¥449.7b | CN¥16.8b | 28.9x | 36.8x | 1.4x |
| Wed, 15 Mar 2023 | CN¥615.2b | CN¥451.4b | CN¥18.2b | 28.4x | 33.8x | 1.4x |
| Fri, 10 Feb 2023 | CN¥643.9b | CN¥450.7b | CN¥18.3b | 30.1x | 35.1x | 1.4x |
| Sun, 08 Jan 2023 | CN¥606.5b | CN¥450.5b | CN¥18.3b | 27.3x | 33.1x | 1.3x |
| Tue, 06 Dec 2022 | CN¥609.2b | CN¥450.2b | CN¥18.3b | 28.6x | 33.3x | 1.4x |
| Thu, 03 Nov 2022 | CN¥549.9b | CN¥447.9b | CN¥17.1b | 25x | 32.1x | 1.2x |
| Sat, 01 Oct 2022 | CN¥537.7b | CN¥443.8b | CN¥19.2b | 19.9x | 27.9x | 1.2x |
| Mon, 29 Aug 2022 | CN¥599.6b | CN¥443.6b | CN¥21.0b | 21.2x | 28.5x | 1.4x |
| Wed, 27 Jul 2022 | CN¥613.4b | CN¥446.2b | CN¥21.5b | 21.2x | 28.6x | 1.4x |
| Fri, 24 Jun 2022 | CN¥617.1b | CN¥446.4b | CN¥22.5b | 21.6x | 27.5x | 1.4x |
| Sun, 22 May 2022 | CN¥608.4b | CN¥446.7b | CN¥22.6b | 21.2x | 27x | 1.4x |
| Tue, 19 Apr 2022 | CN¥610.8b | CN¥444.4b | CN¥17.8b | 19.1x | 34.3x | 1.4x |
| Thu, 17 Mar 2022 | CN¥671.7b | CN¥447.6b | CN¥19.5b | 19.3x | 34.4x | 1.5x |
| Sat, 12 Feb 2022 | CN¥745.7b | CN¥439.1b | CN¥18.9b | 21.9x | 39.4x | 1.7x |
| Mon, 10 Jan 2022 | CN¥790.2b | CN¥437.5b | CN¥18.6b | 23.6x | 42.6x | 1.8x |
| Wed, 08 Dec 2021 | CN¥733.3b | CN¥432.8b | CN¥17.4b | 20.9x | 42.3x | 1.7x |
| Fri, 05 Nov 2021 | CN¥741.8b | CN¥432.8b | CN¥17.6b | 21.4x | 42.2x | 1.7x |
| Sun, 03 Oct 2021 | CN¥731.6b | CN¥412.8b | CN¥16.3b | 25.7x | 45x | 1.8x |
| Tue, 31 Aug 2021 | CN¥710.2b | CN¥410.4b | CN¥15.9b | 25.6x | 44.6x | 1.7x |
Price to Earnings Ratio
45.1x
Current Industry PE
- Investors are pessimistic on the Chinese Luxury industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 21.1x which is lower than its 3-year average PE of 35.6x.
- The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 0.98x.
Past Earnings Growth
- The earnings for companies in the Luxury industry have grown 10% per year over the last three years.
- Revenues for these companies have grown 3.8% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Chinese Consumer Discretionary industry?
| CN Market | 0.16% | |
| Consumer Discretionary | -2.63% | |
| Luxury | -3.34% | |
| Apparel, Accessories and Luxury Goods | -2.06% | |
| Textiles | -3.23% | |
| Footwear | -7.12% | |
Industry PE
- Investors are most optimistic about the Footwear industry even though it's trading below its 3-year average PE ratio of 60.6x.
- Analysts are expecting annual earnings growth of 12.8%, which is lower than the prior year's growth of 14.6% per year.
- Investors are most pessimistic about the Apparel, Accessories and Luxury Goods industry, which is trading below its 3-year average of 40.2x.
Forecasted Growth
- Analysts are most optimistic on the Textiles industry, expecting annual earnings growth of 25% over the next 5 years.
- This is better than its past earnings growth rate of 8.5% per year.
- In contrast, the Footwear industry is expected to see its earnings grow by 13% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 000158 Shijiazhuang ChangShan BeiMing TechnologyLtd | CN¥6.12 | 9.9% +CN¥879.2m | -12.1% | PS1.1x | |
| 603958 Harson Trading (China)Ltd | CN¥9.35 | 10.0% +CN¥186.5m | 19.7% | PE174.2x | |
| 002875 AnnilLtd | CN¥11.39 | 7.0% +CN¥159.3m | -13.7% | PS2.9x | |
| 603306 HMT (Xiamen) New Technical Materials | CN¥18.65 | 2.0% +CN¥120.5m | -37.2% | PE22.7x | |
| 003016 Xin HeeLtd | CN¥6.38 | 3.9% +CN¥100.8m | -36.7% | PE47.2x |
