Flat Glass Group
Market Cap
CN¥78.2b
Last Updated
2021/01/21 17:12 UTC
Data Sources
Company Financials +
Executive Summary
Flat Glass Group Co., Ltd., together with its subsidiaries, engages in the design, development, production, and sale of glass products in the People's Republic of China, Europe, North America, and internationally. More Details
Snowflake Analysis
Exceptional growth potential with solid track record.
Similar Companies
Share Price & News
How has Flat Glass Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 601865 is more volatile than 90% of CN stocks over the past 3 months, typically moving +/- 11% a week.
Volatility Over Time: 601865's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of CN stocks.
Market Performance
7 Day Return
4.5%
601865
2.6%
CN Semiconductor
0.5%
CN Market
1 Year Return
198.0%
601865
42.8%
CN Semiconductor
25.8%
CN Market
Return vs Industry: 601865 exceeded the CN Semiconductor industry which returned 42.8% over the past year.
Return vs Market: 601865 exceeded the CN Market which returned 25.8% over the past year.
Shareholder returns
| 601865 | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.5% | 2.6% | 0.5% |
| 30 Day | 0.1% | 9.7% | 4.7% |
| 90 Day | 18.5% | 24.3% | 8.1% |
| 1 Year | 198.5%198.0% | 43.2%42.8% | 27.9%25.8% |
| 3 Year | n/a | 136.0%126.2% | 21.3%15.3% |
| 5 Year | n/a | 193.2%182.7% | 49.4%39.2% |
Long-Term Price Volatility Vs. Market
How volatile is Flat Glass Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Flat Glass Group undervalued compared to its fair value and its price relative to the market?
51.48x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: 601865 (CN¥39.1) is trading above our estimate of fair value (CN¥38.05)
Significantly Below Fair Value: 601865 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: 601865 is good value based on its PE Ratio (51.5x) compared to the CN Semiconductor industry average (79.5x).
PE vs Market: 601865 is poor value based on its PE Ratio (51.5x) compared to the CN market (35.4x).
Price to Earnings Growth Ratio
PEG Ratio: 601865 is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: 601865 is overvalued based on its PB Ratio (9.6x) compared to the CN Semiconductor industry average (6.8x).
Next Steps
Future Growth
How is Flat Glass Group forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
40.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 601865's forecast earnings growth (40.3% per year) is above the savings rate (3.3%).
Earnings vs Market: 601865's earnings (40.3% per year) are forecast to grow faster than the CN market (24.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: 601865's revenue (39% per year) is forecast to grow faster than the CN market (18.2% per year).
High Growth Revenue: 601865's revenue (39% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 601865's Return on Equity is forecast to be high in 3 years time (29.8%)
Next Steps
Past Performance
How has Flat Glass Group performed over the past 5 years?
11.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 601865 has high quality earnings.
Growing Profit Margin: 601865's current net profit margins (18.8%) are higher than last year (14.9%).
Past Earnings Growth Analysis
Earnings Trend: 601865's earnings have grown by 11.9% per year over the past 5 years.
Accelerating Growth: 601865's earnings growth over the past year (63.2%) exceeds its 5-year average (11.9% per year).
Earnings vs Industry: 601865 earnings growth over the past year (63.2%) exceeded the Semiconductor industry 27.4%.
Return on Equity
High ROE: 601865's Return on Equity (18.3%) is considered low.
Next Steps
Financial Health
How is Flat Glass Group's financial position?
Financial Position Analysis
Short Term Liabilities: 601865's short term assets (CN¥6.0B) exceed its short term liabilities (CN¥3.6B).
Long Term Liabilities: 601865's short term assets (CN¥6.0B) exceed its long term liabilities (CN¥2.7B).
Debt to Equity History and Analysis
Debt Level: 601865's debt to equity ratio (67%) is considered high.
Reducing Debt: 601865's debt to equity ratio has increased from 46.8% to 67% over the past 5 years.
Debt Coverage: 601865's debt is well covered by operating cash flow (53.1%).
Interest Coverage: 601865's interest payments on its debt are well covered by EBIT (20x coverage).
Balance Sheet
Next Steps
Dividend
What is Flat Glass Group current dividend yield, its reliability and sustainability?
0.47%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 601865's dividend (0.47%) is higher than the bottom 25% of dividend payers in the CN market (0.39%).
High Dividend: 601865's dividend (0.47%) is low compared to the top 25% of dividend payers in the CN market (1.79%).
Stability and Growth of Payments
Stable Dividend: 601865 has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: 601865's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (12.2%), 601865's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 601865's dividends in 3 years are forecast to be well covered by earnings (17.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
22.6yrs
Average management tenure
CEO
Hongliang Ruan (58 yo)
15.08yrs
Tenure
CN¥965,239
Compensation
Mr. Hongliang Ruan founded Flat Glass Group Co., Ltd. and serves as its General Manager, Chief Executive and Chairman of the Board. Mr. Ruan has experience in glass industry. He has been a Director and Gen...
CEO Compensation Analysis
Compensation vs Market: Hongliang's total compensation ($USD149.29K) is below average for companies of similar size in the CN market ($USD375.10K).
Compensation vs Earnings: Hongliang's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 15.08yrs | CN¥965.24k | 20.61% CN¥ 16.1b | |
| Deputy Chairman & Deputy GM | 15.08yrs | CN¥741.45k | 15.19% CN¥ 11.9b | |
| Co-Founder | 11.42yrs | CN¥632.83k | 0.81% CN¥ 635.4m | |
| Executive Director | 6yrs | CN¥621.05k | 0.54% CN¥ 423.6m | |
| Co-Founder & Chairman of Board of Supervisors | 6yrs | CN¥280.00k | 2.44% CN¥ 1.9b | |
| Co-Founder & Supervisor | 6yrs | CN¥280.00k | 1.62% CN¥ 1.3b | |
| Co-Founder & Supervisor | 6yrs | CN¥242.00k | 1.62% CN¥ 1.3b | |
| 22.58yrs | no data | no data | ||
| 22.58yrs | no data | no data | ||
| 22.58yrs | no data | no data | ||
| 22.58yrs | no data | no data | ||
| 22.58yrs | no data | no data |
22.6yrs
Average Tenure
58yo
Average Age
Experienced Management: 601865's management team is seasoned and experienced (22.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 15.08yrs | CN¥965.24k | 20.61% CN¥ 16.1b | |
| Deputy Chairman & Deputy GM | 15.08yrs | CN¥741.45k | 15.19% CN¥ 11.9b | |
| Co-Founder | 11.42yrs | CN¥632.83k | 0.81% CN¥ 635.4m | |
| Executive Director | 6yrs | CN¥621.05k | 0.54% CN¥ 423.6m | |
| Co-Founder & Chairman of Board of Supervisors | 6yrs | CN¥280.00k | 2.44% CN¥ 1.9b | |
| Co-Founder & Supervisor | 6yrs | CN¥280.00k | 1.62% CN¥ 1.3b | |
| Co-Founder & Supervisor | 6yrs | CN¥242.00k | 1.62% CN¥ 1.3b | |
| Independent Non-Executive Director | 6yrs | CN¥80.00k | no data | |
| Independent Non-Executive Director | 4.17yrs | CN¥80.00k | no data | |
| Independent Non-executive Director | 2.17yrs | CN¥80.00k | no data | |
| Staff Representative Supervisor | 1.33yrs | no data | no data | |
| Staff Representative Supervisor | 1.33yrs | no data | no data |
6.0yrs
Average Tenure
57yo
Average Age
Experienced Board: 601865's board of directors are considered experienced (6 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.4%.
Top Shareholders
Company Information
Flat Glass Group Co., Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Flat Glass Group Co., Ltd.
- Ticker: 601865
- Exchange: XSSC
- Founded: 1998
- Industry: Semiconductors
- Sector: Semiconductors
- Market Cap: HK$93.775b
- Listing Market Cap: HK$78.217b
- Shares outstanding: 2.13b
- Website: https://www.flatgroup.com.cn
Number of Employees
Location
- Flat Glass Group Co., Ltd.
- 1999 Yunhe Road
- Xiuzhou District
- Jiaxing
- Zhejiang Province
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 6865 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Foreign Shares- Foreign Listed | HK | HKD | Nov 2015 |
| 6865 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Foreign Shares- Foreign Listed | HK | HKD | Nov 2015 |
| FGSG.F | OTCPK (Pink Sheets LLC) | Yes | Foreign Shares- Foreign Listed | US | USD | Nov 2015 |
| 601865 | SHSE (Shanghai Stock Exchange) | Domestic Shares | CN | CNY | Feb 2019 | |
| 601865 | XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect) | Domestic Shares | CN | CNY | Feb 2019 |
Biography
Flat Glass Group Co., Ltd., together with its subsidiaries, engages in the design, development, production, and sale of glass products in the People's Republic of China, Europe, North America, and internat...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 17:12 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.