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401

Tangshan Jidong CementLtd SZSE:000401 Stock Report

Last Price

CN¥8.36

Market Cap

CN¥22.2b

7D

-0.2%

1Y

-35.0%

Updated

05 Oct, 2022

Data

Company Financials +

Tangshan Jidong CementLtd Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tangshan Jidong CementLtd
Historical stock prices
Current Share PriceCN¥8.36
52 Week HighCN¥13.29
52 Week LowCN¥8.24
Beta0.32
1 Month Change-8.83%
3 Month Change-16.82%
1 Year Change-35.04%
3 Year Change-47.65%
5 Year Change-49.06%
Change since IPO94.80%

Recent News & Updates

Shareholder Returns

401CN Basic MaterialsCN Market
7D-0.2%-3.8%-3.3%
1Y-35.0%-26.8%-19.2%

Return vs Industry: 000401 underperformed the CN Basic Materials industry which returned -26.8% over the past year.

Return vs Market: 000401 underperformed the CN Market which returned -19.2% over the past year.

Price Volatility

Is 401's price volatile compared to industry and market?
401 volatility
401 Average Weekly Movement3.4%
Basic Materials Industry Average Movement4.7%
Market Average Movement5.8%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.8%

Stable Share Price: 000401 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 000401's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199422,893Yan Lihttps://www.jdsn.com.cn

Tangshan Jidong Cement Co.,Ltd. produces and sells cement, ready-mixed concrete, and clinker in China. It also offers mineral powder, fly ash, etc., as well as involved in the mining and sales of limestone ore, gravel processing and sales; domestic waste disposal.

Tangshan Jidong CementLtd Fundamentals Summary

How do Tangshan Jidong CementLtd's earnings and revenue compare to its market cap?
401 fundamental statistics
Market CapCN¥22.22b
Earnings (TTM)CN¥2.72b
Revenue (TTM)CN¥36.87b

8.2x

P/E Ratio

0.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
401 income statement (TTM)
RevenueCN¥36.87b
Cost of RevenueCN¥29.17b
Gross ProfitCN¥7.69b
Other ExpensesCN¥4.97b
EarningsCN¥2.72b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.02
Gross Margin20.87%
Net Profit Margin7.39%
Debt/Equity Ratio50.9%

How did 401 perform over the long term?

See historical performance and comparison

Dividends

9.0%

Current Dividend Yield

60%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 401 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 401?

Other financial metrics that can be useful for relative valuation.

401 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1x
Enterprise Value/EBITDA5x
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does 401's PE Ratio compare to its peers?

401 PE Ratio vs Peers
The above table shows the PE ratio for 401 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average9x
600801 Huaxin Cement
7.7x18.8%CN¥34.7b
200012 CSG Holding
7.1x28.4%HK$18.4b
000672 Gansu Shangfeng CementLtd
6.4x12.6%CN¥11.9b
000935 Sichuan Hexie Shuangma
15x45.9%CN¥15.8b
000401 Tangshan Jidong CementLtd
8.2x20.1%CN¥22.2b

Price-To-Earnings vs Peers: 000401 is good value based on its Price-To-Earnings Ratio (8.2x) compared to the peer average (9x).


Price to Earnings Ratio vs Industry

How does 401's PE Ratio compare vs other companies in the CN Basic Materials Industry?

Price-To-Earnings vs Industry: 000401 is good value based on its Price-To-Earnings Ratio (8.2x) compared to the CN Basic Materials industry average (15.7x)


Price to Earnings Ratio vs Fair Ratio

What is 401's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

401 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.2x
Fair PE Ratio21.3x

Price-To-Earnings vs Fair Ratio: 000401 is good value based on its Price-To-Earnings Ratio (8.2x) compared to the estimated Fair Price-To-Earnings Ratio (21.3x).


Share Price vs Fair Value

What is the Fair Price of 401 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 000401 (CN¥8.36) is trading below our estimate of fair value (CN¥29)

Significantly Below Fair Value: 000401 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Tangshan Jidong CementLtd forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


20.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 000401's forecast earnings growth (20.1% per year) is above the savings rate (3.2%).

Earnings vs Market: 000401's earnings (20.1% per year) are forecast to grow slower than the CN market (25.8% per year).

High Growth Earnings: 000401's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 000401's revenue (1% per year) is forecast to grow slower than the CN market (18.1% per year).

High Growth Revenue: 000401's revenue (1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 000401's Return on Equity is forecast to be low in 3 years time (10.9%).


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Past Performance

How has Tangshan Jidong CementLtd performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


20.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 000401 has high quality earnings.

Growing Profit Margin: 000401's current net profit margins (7.4%) are lower than last year (8.2%).


Past Earnings Growth Analysis

Earnings Trend: 000401's earnings have grown significantly by 20.4% per year over the past 5 years.

Accelerating Growth: 000401's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 000401 had negative earnings growth (-11.5%) over the past year, making it difficult to compare to the Basic Materials industry average (-22.4%).


Return on Equity

High ROE: 000401's Return on Equity (10.4%) is considered low.


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Financial Health

How is Tangshan Jidong CementLtd's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 000401's short term assets (CN¥15.6B) do not cover its short term liabilities (CN¥16.8B).

Long Term Liabilities: 000401's short term assets (CN¥15.6B) exceed its long term liabilities (CN¥12.0B).


Debt to Equity History and Analysis

Debt Level: 000401's net debt to equity ratio (35.7%) is considered satisfactory.

Reducing Debt: 000401's debt to equity ratio has reduced from 192.5% to 50.9% over the past 5 years.

Debt Coverage: 000401's debt is well covered by operating cash flow (23.3%).

Interest Coverage: 000401's interest payments on its debt are well covered by EBIT (14.2x coverage).


Balance Sheet


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Dividend

What is Tangshan Jidong CementLtd current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


8.97%

Current Dividend Yield

Dividend Yield vs Market

Tangshan Jidong CementLtd Dividend Yield vs Market
How does Tangshan Jidong CementLtd dividend yield compare to the market?
SegmentDividend Yield
Company (Tangshan Jidong CementLtd)9.0%
Market Bottom 25% (CN)0.5%
Market Top 25% (CN)2.2%
Industry Average (Basic Materials)3.6%
Analyst forecast in 3 Years (Tangshan Jidong CementLtd)8.0%

Notable Dividend: 000401's dividend (8.97%) is higher than the bottom 25% of dividend payers in the CN market (0.55%).

High Dividend: 000401's dividend (8.97%) is in the top 25% of dividend payers in the CN market (2.16%)


Stability and Growth of Payments

Stable Dividend: 000401 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 000401's dividend payments have increased, but the company has only paid a dividend for 9 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (60%), 000401's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (146.4%), 000401's dividend payments are not well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure


CEO

Yan Li (53 yo)

4.42yrs

Tenure

CN¥1,442,900

Compensation

Mr. Yan Li is GM & Director of Tangshan Jidong Cement Co.,Ltd. from December 2020. He joined the Tangshan Jidong Cement Co.,Ltd.on May 25, 2018. He was Deputy GM & Non-Independent Director of Tangshan Jid...


Leadership Team

Experienced Management: 000401's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: 000401's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of 401?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders1,8000.0%
Private Companies44,642,8571.7%
Institutions162,036,0616.1%
General Public770,376,48729.0%
Public Companies1,681,156,21563.2%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 88%.


Top Shareholders

Top 25 shareholders own 70.91% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
61.56%
BBMG Corporation
1,636,513,358CN¥13.7b0%no data
1.68%
China National Building Material Company Limited
44,642,857CN¥373.2m0%no data
1.68%
Beijing State-owned Capital Operation and Management Company Limited
44,642,857CN¥373.2m0%no data
1.68%
Cinda Capital Management Co., Ltd.
44,642,857CN¥373.2m0%13.71%
1.07%
Harvest Fund Management Co., Ltd.
28,328,798CN¥236.8m0%0.12%
1.02%
E Fund Management Co., Ltd.
27,154,290CN¥227.0m0%0.05%
0.72%
Central Huijin Asset Management Ltd.
19,141,000CN¥160.0m0%0.07%
0.43%
Lombarda China Fund Management Co., Ltd.
11,519,305CN¥96.3m4.54%0.05%
0.29%
China Southern Asset Management Co., Ltd.
7,779,546CN¥65.0m0%0.03%
0.26%
The Vanguard Group, Inc.
7,019,102CN¥58.7m0%no data
0.14%
GF Fund Management Co., Ltd.
3,753,332CN¥31.4m0%0.01%
0.082%
Dimensional Fund Advisors LP
2,174,026CN¥18.2m7.67%no data
0.06%
BlackRock, Inc.
1,596,250CN¥13.3m-1.56%no data
0.04%
Invesco Great Wall Fund Management Co. Ltd
1,060,917CN¥8.9m0%0.01%
0.031%
China Asset Management Co., Ltd.
830,704CN¥6.9m0%no data
0.03%
Guotai Asset Management Co., Ltd.
789,500CN¥6.6m0%0.01%
0.021%
Geode Capital Management, LLC
561,991CN¥4.7m0.09%no data
0.018%
KBC Asset Management NV
479,969CN¥4.0m-0.79%no data
0.016%
Tianhong Asset Management Co., Ltd.
420,500CN¥3.5m0%no data
0.015%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
405,600CN¥3.4m98.14%no data
0.014%
China Life AMP Asset Management Co., Ltd.
364,400CN¥3.0m0%0.03%
0.013%
ICBC Credit Suisse Asset Management Co., Ltd.
334,900CN¥2.8m0%no data
0.012%
Essence Fund Management Co., Ltd
326,100CN¥2.7m0%0.01%
0.011%
Charles Schwab Investment Management, Inc.
287,800CN¥2.4m0%no data
0.0077%
Soochow Asset Management Co., Ltd.
205,000CN¥1.7m0%0.05%

Company Information

Tangshan Jidong Cement Co.,Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Tangshan Jidong Cement Co.,Ltd.
  • Ticker: 401
  • Exchange: SZSE
  • Founded: 1994
  • Industry: Construction Materials
  • Sector: Materials
  • Implied Market Cap: CN¥22.223b
  • Shares outstanding: 2.66b
  • Website: https://www.jdsn.com.cn

Number of Employees


Location

  • Tangshan Jidong Cement Co.,Ltd.
  • Tower A, Global Trade Center
  • 22nd Floor
  • Beijing
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
401SZSE (Shenzhen Stock Exchange)YesDomestic SharesCNCNYSep 1996
401XSEC (Shenzhen Stock Exchange - Shenzhen-Hong Kong Stock Connect)YesDomestic SharesCNCNYSep 1996

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.